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 trading hands.

Wall Street Analysts Forecast Growth

ERIC has been the topic of a number of recent analyst reports. StockNews.com cut shares of Telefonaktiebolaget LM Ericsson (publ) from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 24th. JPMorgan Chase & Co. raised 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 note on Monday, October 21st.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

The company has a fifty day moving average price of $8.21 and a two-hundred day moving average price of $7.74. The firm has a market cap of $25.66 billion, a price-to-earnings ratio of -256.67 and a beta of 0.79. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.19 and a quick ratio of 0.95.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last issued its quarterly earnings results on Friday, January 24th. The communications equipment provider reported $0.17 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 research analysts expect that Telefonaktiebolaget LM Ericsson will post 0.47 EPS for the current year.

Institutional Trading of Telefonaktiebolaget LM Ericsson (publ)

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC increased its stake 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 worth $18,287,000 after purchasing an additional 463,415 shares in the last quarter. Two Sigma Advisers LP increased its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 17,266.7% in the third quarter. Two Sigma Advisers LP now owns 2,031,900 shares of the communications equipment provider’s stock worth $15,402,000 after acquiring an additional 2,020,200 shares in the last quarter. Verition Fund Management LLC increased its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 6.9% in the third quarter. Verition Fund Management LLC now owns 1,142,228 shares of the communications equipment provider’s stock worth $8,658,000 after acquiring an additional 73,320 shares in the last quarter. Gateway Investment Advisers LLC raised its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 35.9% during the third quarter. Gateway Investment Advisers LLC now owns 857,213 shares of the communications equipment provider’s stock valued at $6,498,000 after acquiring an additional 226,672 shares during the period. Finally, Quantinno Capital Management LP lifted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 35.9% in the 3rd quarter. Quantinno Capital Management LP now owns 579,054 shares of the communications equipment provider’s stock valued at $4,389,000 after acquiring an additional 153,084 shares in the last quarter. 7.99% of the stock is owned by institutional investors and hedge funds.

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.