Tidal Investments LLC Acquires 3,026 Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Tidal Investments LLC lifted its stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 11.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,197 shares of the communications equipment provider’s stock after purchasing an additional 3,026 shares during the period. Tidal Investments LLC’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $229,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Bank of Montreal Can boosted its position in 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. Hsbc Holdings PLC purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the second quarter valued at approximately $17,940,000. Two Sigma Advisers LP grew its stake in 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 purchasing an additional 2,020,200 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Telefonaktiebolaget LM Ericsson (publ) during the 2nd quarter worth $11,869,000. Finally, DigitalBridge Group Inc. raised its position in Telefonaktiebolaget LM Ericsson (publ) by 18.6% during the 2nd quarter. DigitalBridge Group Inc. now owns 5,018,017 shares of the communications equipment provider’s stock valued at $30,961,000 after purchasing an additional 785,261 shares in the last quarter. 7.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ERIC shares. StockNews.com upgraded Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price target on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the company a “neutral” rating in a report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $6.70.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 0.7 %

Shares of NASDAQ ERIC opened at $8.17 on Thursday. The business has a fifty day moving average price of $8.25 and a 200 day moving average price of $7.38. Telefonaktiebolaget LM Ericsson has a 1-year low of $4.77 and a 1-year high of $8.62. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.19 and a quick ratio of 0.95. The stock has a market capitalization of $27.23 billion, a P/E ratio of -272.33 and a beta of 0.79.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last released its quarterly earnings results on Tuesday, October 15th. The communications equipment provider reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The business had revenue of $5.93 billion for the quarter, compared to analysts’ expectations of $5.73 billion. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 0.47% and a positive return on equity of 13.31%. Equities research analysts expect that Telefonaktiebolaget LM Ericsson will post 0.44 EPS for the current fiscal year.

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.