Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) from a buy rating to a strong-buy rating in a research report sent to investors on Wednesday.

Separately, JPMorgan Chase & Co. upped their target price 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. Two investment 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $5.90.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Shares of ERIC opened at $8.50 on Wednesday. The company has a current ratio of 1.14, a quick ratio of 0.90 and a debt-to-equity ratio of 0.39. The firm’s fifty day simple moving average is $7.46 and its two-hundred day simple moving average is $6.45. Telefonaktiebolaget LM Ericsson has a 12 month low of $4.33 and a 12 month high of $8.62. The stock has a market capitalization of $28.33 billion, a P/E ratio of -8.59 and a beta of 0.83.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 50,747.2% in the 2nd quarter. Bank of Montreal Can now owns 13,557,885 shares of the communications equipment provider’s stock valued at $83,788,000 after buying an additional 13,531,221 shares during the period. DigitalBridge Group Inc. increased its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 18.6% during the second quarter. DigitalBridge Group Inc. now owns 5,018,017 shares of the communications equipment provider’s stock valued at $30,961,000 after acquiring an additional 785,261 shares in the last quarter. Hsbc Holdings PLC bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the second quarter valued at approximately $17,940,000. Acadian Asset Management LLC acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the second quarter worth approximately $11,869,000. Finally, Marshall Wace LLP lifted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 39.3% in the 2nd quarter. Marshall Wace LLP now owns 1,898,019 shares of the communications equipment provider’s stock worth $11,711,000 after purchasing an additional 535,933 shares in the last quarter. 7.99% of the stock is owned by 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.