Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Sets New 12-Month High – Here’s What Happened

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $8.25 and last traded at $8.25, with a volume of 519080 shares trading hands. The stock had previously closed at $7.54.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ERIC shares. JPMorgan Chase & Co. raised their price target on Telefonaktiebolaget LM Ericsson (publ) from $5.58 to $5.90 and gave the company a “neutral” rating in a research report on Monday, July 15th. StockNews.com raised Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, one has issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $5.90.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

The firm’s 50 day simple moving average is $7.40 and its two-hundred day simple moving average is $6.41. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.90. The firm has a market capitalization of $28.26 billion, a P/E ratio of -8.57 and a beta of 0.83.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its stake in Telefonaktiebolaget LM Ericsson (publ) by 131.2% in the 2nd quarter. GAMMA Investing LLC now owns 5,464 shares of the communications equipment provider’s stock worth $34,000 after purchasing an additional 3,101 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the first quarter worth approximately $36,000. BOKF NA purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the second quarter worth $41,000. Hexagon Capital Partners LLC raised its holdings in Telefonaktiebolaget LM Ericsson (publ) by 225.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 5,664 shares of the communications equipment provider’s stock valued at $43,000 after buying an additional 3,924 shares during the last quarter. Finally, NBC Securities Inc. boosted its position in Telefonaktiebolaget LM Ericsson (publ) by 258.1% during the 1st quarter. NBC Securities Inc. now owns 10,744 shares of the communications equipment provider’s stock valued at $59,000 after buying an additional 7,744 shares during the period. 7.99% of the stock is currently owned by hedge funds and other institutional investors.

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.