Telefonaktiebolaget LM Ericsson (publ) Target of Unusually Large Options Trading (NASDAQ:ERIC)

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) was the recipient of unusually large options trading on Monday. Stock traders acquired 4,293 call options on the company. This is an increase of approximately 248% compared to the typical volume of 1,233 call options.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

A number of hedge funds and other institutional investors have recently bought and sold shares of ERIC. Hexagon Capital Partners LLC boosted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 225.5% in the third quarter. Hexagon Capital Partners LLC now owns 5,664 shares of the communications equipment provider’s stock valued at $43,000 after purchasing an additional 3,924 shares during the last quarter. Vest Financial LLC purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the third quarter worth about $77,000. GAMMA Investing LLC grew its holdings in Telefonaktiebolaget LM Ericsson (publ) by 92.8% during the third quarter. GAMMA Investing LLC now owns 10,534 shares of the communications equipment provider’s stock worth $80,000 after acquiring an additional 5,070 shares during the period. Alliance Wealth Advisors LLC UT purchased a new position in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter valued at approximately $94,000. Finally, Assetmark Inc. lifted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 1,737.1% in the third quarter. Assetmark Inc. now owns 12,382 shares of the communications equipment provider’s stock valued at $94,000 after acquiring an additional 11,708 shares during the period. Hedge funds and other institutional investors own 7.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ERIC. StockNews.com cut Telefonaktiebolaget LM Ericsson (publ) from a “strong-buy” rating to a “buy” rating in a report on Friday. JPMorgan Chase & Co. increased their price objective on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the company a “neutral” rating in a research report on Monday, October 21st.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 3.7 %

Shares of ERIC stock traded up $0.29 during trading hours on Monday, reaching $7.91. 5,480,056 shares of the stock were exchanged, compared to its average volume of 17,084,969. The company has a current ratio of 1.19, a quick ratio of 0.95 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $26.34 billion, a price-to-earnings ratio of -263.50 and a beta of 0.79. Telefonaktiebolaget LM Ericsson has a 12-month low of $4.77 and a 12-month high of $8.90. The company’s 50-day moving average price is $8.23 and its 200-day moving average price is $7.73.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last issued its earnings results on Friday, January 24th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 13.31% and a negative net margin of 0.47%. As a group, equities analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.47 earnings per share for the current year.

Telefonaktiebolaget LM Ericsson (publ) Company Profile

Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides mobile connectivity solutions for telcom operators and enterprise customers in various sectors in North America, Europe, Latin America, the Middle East, Africa, North East Asia, South East Asia, Oceania, and India. It operates in four segments: Networks; Cloud Software and Services; Enterprise; and Other.