Investors Buy Large Volume of Put Options on Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) saw unusually large options trading activity on Thursday. Traders acquired 2,152 put options on the stock. This is an increase of approximately 204% compared to the typical volume of 707 put options.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ERIC. BOKF NA acquired a new position in Telefonaktiebolaget LM Ericsson (publ) in the second quarter valued at about $41,000. Hexagon Capital Partners LLC grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 225.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 5,664 shares of the communications equipment provider’s stock worth $43,000 after acquiring an additional 3,924 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Telefonaktiebolaget LM Ericsson (publ) by 37.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 9,029 shares of the communications equipment provider’s stock valued at $56,000 after purchasing an additional 2,458 shares in the last quarter. Vest Financial LLC acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the third quarter valued at about $77,000. Finally, Choreo LLC acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the 2nd quarter worth approximately $78,000. 7.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Telefonaktiebolaget LM Ericsson (publ) Trading Up 0.1 %

Shares of ERIC opened at $8.07 on Friday. The stock’s fifty day simple moving average is $8.21 and its 200-day simple moving average is $7.46. The company has a quick ratio of 0.95, a current ratio of 1.19 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $26.89 billion, a PE ratio of -269.00 and a beta of 0.79. Telefonaktiebolaget LM Ericsson has a 12-month low of $4.77 and a 12-month high of $8.62.

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

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.