Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC – Get Free Report) saw a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 19,370,000 shares, a growth of 5.5% from the August 15th total of 18,360,000 shares. Based on an average daily volume of 16,700,000 shares, the days-to-cover ratio is presently 1.2 days. Approximately 0.6% of the shares of the company are short sold.
Telefonaktiebolaget LM Ericsson (publ) Stock Performance
Shares of NASDAQ:ERIC traded up $0.15 during trading hours on Thursday, hitting $7.50. The stock had a trading volume of 5,890,722 shares, compared to its average volume of 16,722,113. The stock’s fifty day simple moving average is $7.00 and its 200 day simple moving average is $6.12. The firm has a market capitalization of $25.00 billion, a price-to-earnings ratio of -7.57 and a beta of 0.83. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.90 and a current ratio of 1.14. Telefonaktiebolaget LM Ericsson has a 1-year low of $4.33 and a 1-year high of $7.51.
Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC – Get Free Report) last posted its earnings results on Friday, July 12th. The communications equipment provider reported $0.01 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 14.13% and a positive return on equity of 11.39%. The business had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.29 billion. Sell-side analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.41 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)
Wall Street Analysts Forecast Growth
Separately, JPMorgan Chase & Co. increased their target price on Telefonaktiebolaget LM Ericsson (publ) from $5.58 to $5.90 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Telefonaktiebolaget LM Ericsson (publ) has a consensus rating of “Hold” and an average price target of $5.90.
View Our Latest Analysis on ERIC
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.
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