Ericsson Target of Unusually High Options Trading (NASDAQ:ERIC)

Ericsson (NASDAQ:ERICGet Free Report) saw some unusual options trading on Tuesday. Traders acquired 2,030 call options on the company. This represents an increase of 162% compared to the typical daily volume of 775 call options.

Ericsson Price Performance

Shares of NASDAQ:ERIC opened at $7.22 on Wednesday. Ericsson has a 12 month low of $6.41 and a 12 month high of $9.00. The firm has a market capitalization of $24.17 billion, a P/E ratio of 144.40, a P/E/G ratio of 5.64 and a beta of 0.93. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.09 and a quick ratio of 0.88. The company’s fifty day moving average price is $8.42 and its 200 day moving average price is $8.14.

Ericsson (NASDAQ:ERICGet Free Report) last posted its earnings results on Tuesday, April 15th. The communications equipment provider reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. Ericsson had a return on equity of 16.45% and a net margin of 0.67%. The business had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $55.83 billion. As a group, sell-side analysts predict that Ericsson will post 0.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its stake in Ericsson by 401.1% in the fourth quarter. Renaissance Technologies LLC now owns 13,607,012 shares of the communications equipment provider’s stock valued at $109,673,000 after buying an additional 10,891,451 shares during the last quarter. Millennium Management LLC raised its position in Ericsson by 234.6% in the 4th quarter. Millennium Management LLC now owns 6,744,940 shares of the communications equipment provider’s stock valued at $54,364,000 after purchasing an additional 4,729,207 shares during the last quarter. ABC Arbitrage SA acquired a new stake in Ericsson during the 1st quarter worth $24,146,000. National Bank of Canada FI acquired a new stake in Ericsson during the 4th quarter worth $23,440,000. Finally, Northern Trust Corp grew its position in Ericsson by 106.6% during the 1st quarter. Northern Trust Corp now owns 3,659,696 shares of the communications equipment provider’s stock worth $28,399,000 after purchasing an additional 1,888,375 shares during the last quarter. Hedge funds and other institutional investors own 7.99% of the company’s stock.

Analyst Upgrades and Downgrades

ERIC has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price objective on Ericsson from $8.90 to $9.80 and gave the stock a “neutral” rating in a research report on Friday, April 11th. Kepler Capital Markets upgraded Ericsson from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 16th. Finally, Wall Street Zen upgraded shares of Ericsson from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 17th.

View Our Latest Research Report on Ericsson

About Ericsson

(Get Free Report)

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.

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