Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Shares Gap Up to $5.36

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $5.36, but opened at $5.63. Telefonaktiebolaget LM Ericsson (publ) shares last traded at $5.66, with a volume of 3,671,447 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. UBS Group downgraded Telefonaktiebolaget LM Ericsson (publ) from a "neutral" rating to a "sell" rating in a report on Wednesday, January 31st. Barclays downgraded Telefonaktiebolaget LM Ericsson (publ) from an "equal weight" rating to an "underweight" rating in a report on Friday, January 19th. JPMorgan Chase & Co. decreased their price objective on Telefonaktiebolaget LM Ericsson (publ) from $5.81 to $5.58 and set a "neutral" rating for the company in a report on Wednesday, April 17th. Finally, StockNews.com upgraded Telefonaktiebolaget LM Ericsson (publ) from a "hold" rating to a "buy" rating in a report on Friday, April 19th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $5.58.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

The business has a fifty day simple moving average of $5.31 and a 200-day simple moving average of $5.42. The company has a quick ratio of 0.94, a current ratio of 1.22 and a debt-to-equity ratio of 0.30. The firm has a market cap of $18.85 billion, a P/E ratio of -8.06 and a beta of 0.76.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 16th. The communications equipment provider reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.02. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 11.93% and a negative net margin of 9.75%. The firm had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.33 billion. On average, sell-side analysts predict that Telefonaktiebolaget LM Ericsson will post 0.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Several institutional investors and hedge funds have recently modified their holdings of ERIC. Allspring Global Investments Holdings LLC bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the first quarter valued at $36,000. Planned Solutions Inc. purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter valued at $38,000. NBC Securities Inc. boosted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 258.1% during the first quarter. NBC Securities Inc. now owns 10,744 shares of the communications equipment provider's stock valued at $59,000 after buying an additional 7,744 shares during the last quarter. Lake Street Advisors Group LLC purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter valued at $64,000. Finally, Dorsey & Whitney Trust CO LLC boosted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 31.2% during the third quarter. Dorsey & Whitney Trust CO LLC now owns 13,457 shares of the communications equipment provider's stock valued at $65,000 after buying an additional 3,201 shares during the last quarter. 7.99% of the stock is currently 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.