Ericsson Sees Unusually Large Options Volume (NASDAQ:ERIC)

Ericsson (NASDAQ:ERIC) was the recipient of unusually large options trading on Tuesday. Stock investors purchased 2,030 call options on the company. This is an increase of 162% compared to the typical volume of 775 call options.

Analyst Ratings Changes

A number of research firms have commented on ERIC. Wall Street Zen raised shares of Ericsson from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 17th. JPMorgan Chase & Co. upped their price objective on shares of Ericsson from $8.90 to $9.80 and gave the stock a “neutral” rating in a report on Friday, April 11th. Finally, Kepler Capital Markets raised shares of Ericsson from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 16th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ERIC. Federated Hermes Inc. acquired a new stake in Ericsson in the 1st quarter valued at about $27,000. Pinnacle Bancorp Inc. acquired a new stake in Ericsson in the first quarter valued at approximately $31,000. Minot DeBlois Advisors LLC purchased a new position in Ericsson in the fourth quarter worth approximately $35,000. GeoWealth Management LLC acquired a new position in Ericsson during the 4th quarter worth approximately $36,000. Finally, Diametric Capital LP purchased a new stake in shares of Ericsson in the 4th quarter valued at approximately $85,000. 7.99% of the stock is owned by institutional investors and hedge funds.

Ericsson Price Performance

ERIC stock opened at $7.22 on Wednesday. The business’s fifty day moving average price is $8.42 and its 200 day moving average price is $8.14. Ericsson has a 12-month low of $6.41 and a 12-month high of $9.00. The company has a current ratio of 1.09, a quick ratio of 0.88 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $24.17 billion, a PE ratio of 144.40, a P/E/G ratio of 5.64 and a beta of 0.93.

Ericsson (NASDAQ:ERIC) last released its earnings results on Tuesday, April 15th. The communications equipment provider reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.03. The company had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $55.83 billion. Ericsson had a return on equity of 16.45% and a net margin of 0.67%. On average, sell-side analysts anticipate that Ericsson will post 0.48 EPS for the current year.

Ericsson 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.