Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Shares Gap Up – Should You Buy?

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) shares gapped up before the market opened on Monday . The stock had previously closed at $7.62, but opened at $7.81. Telefonaktiebolaget LM Ericsson (publ) shares last traded at $7.93, with a volume of 4,949,470 shares traded.

Wall Street Analyst Weigh In

ERIC has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their price target on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the company a “neutral” rating in a research note on Monday, October 21st. StockNews.com lowered Telefonaktiebolaget LM Ericsson (publ) from a “strong-buy” rating to a “buy” rating in a report on Friday.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 2.8 %

The stock has a market cap of $26.11 billion, a price-to-earnings ratio of -261.17 and a beta of 0.79. The business’s 50 day simple moving average is $8.23 and its 200 day simple moving average is $7.73. The company has a quick ratio of 0.95, a current ratio of 1.19 and a debt-to-equity ratio of 0.39.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last announced its quarterly earnings results on Friday, January 24th. The communications equipment provider reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates 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%. On average, research analysts expect that Telefonaktiebolaget LM Ericsson will post 0.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Several hedge funds have recently added to or reduced their stakes in ERIC. Two Sigma Advisers LP boosted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 17,266.7% in the 3rd quarter. Two Sigma Advisers LP now owns 2,031,900 shares of the communications equipment provider’s stock valued at $15,402,000 after purchasing an additional 2,020,200 shares during the period. Marshall Wace LLP boosted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 39.3% in the second quarter. Marshall Wace LLP now owns 1,898,019 shares of the communications equipment provider’s stock valued at $11,711,000 after buying an additional 535,933 shares during the period. Squarepoint Ops LLC acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) during the second quarter worth approximately $3,027,000. Millennium Management LLC bought a new position in Telefonaktiebolaget LM Ericsson (publ) during the 2nd quarter worth $2,896,000. Finally, FMR LLC raised its holdings in Telefonaktiebolaget LM Ericsson (publ) by 23.8% in the 3rd quarter. FMR LLC now owns 2,412,480 shares of the communications equipment provider’s stock valued at $18,287,000 after acquiring an additional 463,415 shares in the last quarter. Institutional investors and hedge funds own 7.99% of the company’s stock.

About Telefonaktiebolaget LM Ericsson (publ)

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.