Ericsson Target of Unusually Large Options Trading (NASDAQ:ERIC)

Ericsson (NASDAQ:ERIC) saw unusually large options trading on Tuesday. Stock traders purchased 2,369 call options on the stock. This is an increase of approximately 55% compared to the average daily volume of 1,531 call options.

Ericsson Trading Up 4.4%

Shares of ERIC traded up $0.48 during midday trading on Tuesday, hitting $11.16. The stock had a trading volume of 10,140,144 shares, compared to its average volume of 11,903,354. The business has a 50-day simple moving average of $9.59 and a two-hundred day simple moving average of $8.79. The firm has a market cap of $37.60 billion, a P/E ratio of 12.68, a price-to-earnings-growth ratio of 1.97 and a beta of 0.92. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.29. Ericsson has a fifty-two week low of $6.64 and a fifty-two week high of $11.17.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ERIC shares. Jefferies Financial Group raised shares of Ericsson to a “hold” rating in a report on Monday, October 13th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ericsson in a research note on Monday, December 29th. Barclays reiterated an “underweight” rating on shares of Ericsson in a report on Wednesday, October 15th. Cfra Research raised Ericsson to a “hold” rating in a report on Wednesday, October 15th. Finally, Danske cut Ericsson to a “hold” rating in a research report on Wednesday, October 15th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Ericsson presently has a consensus rating of “Reduce” and an average target price of $9.80.

Institutional Trading of Ericsson

Large investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its position in shares of Ericsson by 7.5% in the first quarter. AQR Capital Management LLC now owns 134,891 shares of the communications equipment provider’s stock worth $1,049,000 after buying an additional 9,362 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Ericsson during the first quarter valued at $126,000. Cromwell Holdings LLC lifted its stake in Ericsson by 72.8% in the 2nd quarter. Cromwell Holdings LLC now owns 10,276 shares of the communications equipment provider’s stock worth $87,000 after acquiring an additional 4,330 shares in the last quarter. Yousif Capital Management LLC boosted its position in Ericsson by 17.0% during the 2nd quarter. Yousif Capital Management LLC now owns 55,228 shares of the communications equipment provider’s stock worth $468,000 after acquiring an additional 8,010 shares during the period. Finally, FNY Investment Advisers LLC grew its stake in 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 acquiring an additional 525,000 shares in the last quarter. 7.99% of the stock is owned by institutional investors and hedge funds.

About Ericsson

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.