Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Reaches New 52-Week High at $7.49

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) reached a new 52-week high during trading on Wednesday . The company traded as high as $7.49 and last traded at $7.44, with a volume of 11747509 shares. The stock had previously closed at $7.36.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. boosted their price target on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.58 to $5.90 and gave the stock a “neutral” rating in a report on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.90.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 0.9 %

The firm has a market capitalization of $25.10 billion, a P/E ratio of -7.54 and a beta of 0.83. The firm has a fifty day simple moving average of $7.02 and a two-hundred day simple moving average of $6.13. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.90.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last announced its quarterly earnings data on Friday, July 12th. The communications equipment provider reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.04). The firm had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.29 billion. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 11.39% and a negative net margin of 14.13%. On average, equities research analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC purchased a new position in Telefonaktiebolaget LM Ericsson (publ) during the 2nd quarter valued at about $81,000. Millennium Management LLC bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the second quarter valued at approximately $2,896,000. DigitalBridge Group Inc. grew its stake in 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. AQR Capital Management LLC bought a new stake in Telefonaktiebolaget LM Ericsson (publ) during the 2nd quarter worth approximately $592,000. Finally, Squarepoint Ops LLC purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) in the 2nd quarter worth approximately $3,027,000. 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.