Ericsson (NASDAQ:ERIC) Share Price Passes Above 200 Day Moving Average – Time to Sell?

Ericsson (NASDAQ:ERIC) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $8.93 and traded as high as $11.15. Ericsson shares last traded at $11.11, with a volume of 8,406,873 shares traded.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ERIC shares. Cfra Research raised Ericsson to a “hold” rating in a research note on Wednesday, October 15th. Citigroup reiterated a “neutral” rating on shares of Ericsson in a report on Friday, January 16th. Argus raised shares of Ericsson to a “hold” rating in a report on Monday, January 26th. Barclays restated an “underweight” rating on shares of Ericsson in a research report on Wednesday, October 15th. Finally, Danske downgraded shares of Ericsson to a “hold” rating in a research note on Wednesday, October 15th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ericsson currently has an average rating of “Reduce” and an average target price of $9.80.

Ericsson Stock Up 1.6%

The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.08 and a current ratio of 1.29. The stock’s 50-day moving average price is $9.78 and its two-hundred day moving average price is $8.93. The stock has a market capitalization of $37.45 billion, a PE ratio of 12.63, a P/E/G ratio of 1.96 and a beta of 0.94.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ERIC. AQR Capital Management LLC raised its stake in Ericsson by 7.5% during the 1st quarter. AQR Capital Management LLC now owns 134,891 shares of the communications equipment provider’s stock worth $1,049,000 after acquiring an additional 9,362 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Ericsson in the first quarter worth approximately $126,000. Yousif Capital Management LLC increased its stake in shares of Ericsson by 17.0% in the second quarter. Yousif Capital Management LLC now owns 55,228 shares of the communications equipment provider’s stock worth $468,000 after purchasing an additional 8,010 shares in the last quarter. FNY Investment Advisers LLC raised its position in shares of Ericsson by 1,050.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 575,000 shares of the communications equipment provider’s stock valued at $4,876,000 after purchasing an additional 525,000 shares during the period. Finally, RNC Capital Management LLC raised its position in shares of Ericsson by 13.7% during the 2nd quarter. RNC Capital Management LLC now owns 58,360 shares of the communications equipment provider’s stock valued at $495,000 after purchasing an additional 7,050 shares during the period. 7.99% of the stock is currently owned by institutional investors.

Ericsson Company Profile

Ericsson AB is a Swedish multinational telecommunications equipment and services company headquartered in Stockholm. Founded in 1876 by Lars Magnus Ericsson, the company designs, develops and sells infrastructure, software and services that enable mobile and fixed-line networks worldwide. Ericsson serves a global customer base that includes mobile network operators, enterprise customers and public-sector organizations across Europe, the Americas, Asia-Pacific, the Middle East and Africa.

The company’s core activities center on building and modernizing network infrastructure, with a particular focus on radio access networks (RAN), core network software, cloud-native solutions and network management systems.