Stock Traders Buy High Volume of Telefonaktiebolaget LM Ericsson (publ) Put Options (NASDAQ:ERIC)

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) saw some unusual options trading on Thursday. Investors acquired 2,152 put options on the company. This represents an increase of 204% compared to the typical volume of 707 put options.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the stock a “neutral” rating in a research note on Monday, October 21st. StockNews.com upgraded Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a strong buy rating to the company. According to MarketBeat, Telefonaktiebolaget LM Ericsson (publ) has an average rating of “Hold” and an average target price of $6.70.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Shares of Telefonaktiebolaget LM Ericsson (publ) stock opened at $8.15 on Friday. The firm has a fifty day moving average of $8.21 and a two-hundred day moving average of $7.46. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.95 and a current ratio of 1.19. The stock has a market capitalization of $27.16 billion, a price-to-earnings ratio of -271.67 and a beta of 0.79. Telefonaktiebolaget LM Ericsson has a 52 week low of $4.77 and a 52 week high of $8.62.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last released its earnings results on Tuesday, October 15th. The communications equipment provider reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. The firm had revenue of $5.93 billion for the quarter, compared to analyst estimates of $5.73 billion. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 13.31% and a negative net margin of 0.47%. As a group, equities research analysts predict that Telefonaktiebolaget LM Ericsson will post 0.44 EPS for the current year.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Several large investors have recently bought and sold shares of the company. Sanctuary Advisors LLC raised its stake in Telefonaktiebolaget LM Ericsson (publ) by 80.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 23,662 shares of the communications equipment provider’s stock worth $193,000 after buying an additional 10,530 shares during the period. BNP Paribas Financial Markets lifted its stake in Telefonaktiebolaget LM Ericsson (publ) by 99.8% in 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 buying an additional 239,651 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 415.6% in the third quarter. US Bancorp DE now owns 181,305 shares of the communications equipment provider’s stock valued at $1,374,000 after buying an additional 146,141 shares during the period. Paloma Partners Management Co bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the third quarter worth $3,032,000. Finally, Verition Fund Management LLC lifted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 6.9% in the third quarter. Verition Fund Management LLC now owns 1,142,228 shares of the communications equipment provider’s stock valued at $8,658,000 after purchasing an additional 73,320 shares in the last quarter. Institutional investors own 7.99% of the company’s stock.

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.