Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Shares Gap Up – Here’s What Happened

Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) gapped up prior to trading on Monday . The stock had previously closed at $7.62, but opened at $7.81. Telefonaktiebolaget LM Ericsson (publ) shares last traded at $7.93, with a volume of 4,949,470 shares changing hands.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ERIC shares. JPMorgan Chase & Co. increased their price target on Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the company a “neutral” rating in a research note on Monday, October 21st. StockNews.com cut Telefonaktiebolaget LM Ericsson (publ) from a “strong-buy” rating to a “buy” rating in a report on Friday.

Telefonaktiebolaget LM Ericsson (publ) Stock Up 2.8 %

The company has a current ratio of 1.19, a quick ratio of 0.95 and a debt-to-equity ratio of 0.39. The firm’s fifty day moving average price is $8.23 and its 200-day moving average price is $7.73. The company has a market cap of $26.11 billion, a price-to-earnings ratio of -261.17 and a beta of 0.79.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last posted its earnings results on Friday, January 24th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 0.47% and a positive return on equity of 13.31%. Sell-side analysts predict that Telefonaktiebolaget LM Ericsson will post 0.47 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. First Affirmative Financial Network lifted its position in Telefonaktiebolaget LM Ericsson (publ) by 4.7% in the 4th quarter. First Affirmative Financial Network now owns 40,182 shares of the communications equipment provider’s stock valued at $324,000 after acquiring an additional 1,798 shares in the last quarter. D.A. Davidson & CO. boosted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 5.7% during the third quarter. D.A. Davidson & CO. now owns 34,866 shares of the communications equipment provider’s stock worth $264,000 after buying an additional 1,866 shares during the period. Aaron Wealth Advisors LLC boosted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 8.3% during the fourth quarter. Aaron Wealth Advisors LLC now owns 28,345 shares of the communications equipment provider’s stock worth $228,000 after buying an additional 2,172 shares during the period. Pitcairn Co. grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 14.7% during the third quarter. Pitcairn Co. now owns 17,806 shares of the communications equipment provider’s stock worth $135,000 after buying an additional 2,279 shares in the last quarter. Finally, Tidal Investments LLC raised its position in Telefonaktiebolaget LM Ericsson (publ) by 11.1% in the 3rd quarter. Tidal Investments LLC now owns 30,197 shares of the communications equipment provider’s stock valued at $229,000 after buying an additional 3,026 shares during the last quarter. Institutional investors own 7.99% of the company’s stock.

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.