Stock Traders Purchase High Volume of Telefonaktiebolaget LM Ericsson (publ) Put Options (NASDAQ:ERIC)

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) was the target of unusually large options trading on Thursday. Stock traders acquired 2,152 put options on the stock. This is an increase of 204% compared to the average daily volume of 707 put options.

Hedge Funds Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Several hedge funds and other institutional investors have recently modified their holdings of ERIC. Hexagon Capital Partners LLC lifted its position in shares of 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 worth $43,000 after buying an additional 3,924 shares during the last quarter. BOKF NA acquired a new position in Telefonaktiebolaget LM Ericsson (publ) during the second quarter worth about $41,000. Allspring Global Investments Holdings LLC raised its stake in Telefonaktiebolaget LM Ericsson (publ) by 37.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 9,029 shares of the communications equipment provider’s stock worth $56,000 after acquiring an additional 2,458 shares in the last quarter. Vest Financial LLC bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the third quarter worth about $77,000. Finally, GAMMA Investing LLC boosted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 92.8% in the 3rd quarter. GAMMA Investing LLC now owns 10,534 shares of the communications equipment provider’s stock valued at $80,000 after purchasing an additional 5,070 shares in the last quarter. Institutional investors own 7.99% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 0.1 %

Shares of Telefonaktiebolaget LM Ericsson (publ) stock opened at $8.07 on Friday. The firm’s 50-day moving average price is $8.21 and its two-hundred day moving average price is $7.46. The company has a market capitalization of $26.89 billion, a price-to-earnings ratio of -269.00 and a beta of 0.79. The company has a quick ratio of 0.95, a current ratio of 1.19 and a debt-to-equity ratio of 0.39. Telefonaktiebolaget LM Ericsson has a 12-month low of $4.77 and a 12-month high of $8.62.

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

Wall Street Analyst Weigh In

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

About Telefonaktiebolaget LM Ericsson (publ)

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.