Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Sees Significant Increase in Short Interest

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) saw a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 39,320,000 shares, a growth of 9.1% from the January 15th total of 36,040,000 shares. Based on an average daily volume of 17,180,000 shares, the short-interest ratio is currently 2.3 days. Approximately 1.3% of the company’s stock are short sold.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Large investors have recently made changes to their positions in the company. Diversified Trust Co raised its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 68.7% during the fourth quarter. Diversified Trust Co now owns 343,965 shares of the communications equipment provider’s stock valued at $2,772,000 after acquiring an additional 140,116 shares during the period. Sanctuary Advisors LLC raised its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 80.2% during the third quarter. Sanctuary Advisors LLC now owns 23,662 shares of the communications equipment provider’s stock valued at $193,000 after acquiring an additional 10,530 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 99.8% during the third quarter. BNP Paribas Financial Markets now owns 479,894 shares of the communications equipment provider’s stock valued at $3,638,000 after acquiring an additional 239,651 shares during the period. US Bancorp DE raised its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 415.6% during the third quarter. US Bancorp DE now owns 181,305 shares of the communications equipment provider’s stock valued at $1,374,000 after acquiring an additional 146,141 shares during the period. Finally, Paloma Partners Management Co acquired a new position in Telefonaktiebolaget LM Ericsson (publ) in the 3rd quarter valued at approximately $3,032,000. Institutional investors and hedge funds own 7.99% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

NASDAQ ERIC traded down $0.04 on Friday, hitting $7.87. The stock had a trading volume of 7,777,501 shares, compared to its average volume of 17,897,474. Telefonaktiebolaget LM Ericsson has a one year low of $4.77 and a one year high of $8.90. The company has a quick ratio of 0.96, a current ratio of 1.17 and a debt-to-equity ratio of 0.34. The stock has a market cap of $26.23 billion, a price-to-earnings ratio of -787,000.00, a P/E/G ratio of 3.65 and a beta of 0.77. The company’s 50-day moving average is $8.07 and its two-hundred day moving average is $7.83.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last issued its quarterly earnings results on Friday, January 24th. The communications equipment provider reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a return on equity of 13.70% and a net margin of 0.06%. On average, analysts expect that Telefonaktiebolaget LM Ericsson will post 0.48 earnings per share for the current year.

Analyst Ratings Changes

ERIC has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the company a “neutral” rating in a research report on Monday, October 21st. StockNews.com downgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 24th.

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.