Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) saw some unusual options trading on Tuesday. Investors acquired 953 put options on the stock. This represents an increase of 1,462% compared to the typical volume of 61 put options.

Shares of Telefonaktiebolaget LM Ericsson opened at $7.62 on Wednesday, MarketBeat reports. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.46. Telefonaktiebolaget LM Ericsson has a one year low of $5.52 and a one year high of $8.05.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last issued its quarterly earnings results on Friday, April 20th. The communications equipment provider reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.04. Telefonaktiebolaget LM Ericsson had a negative net margin of 12.75% and a negative return on equity of 4.58%. The business had revenue of $43.40 billion for the quarter, compared to analysts’ expectations of $43.59 billion. During the same quarter last year, the company posted ($2.42) earnings per share. The company’s quarterly revenue was down 9.2% compared to the same quarter last year. analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.17 earnings per share for the current fiscal year.

Several analysts have recently weighed in on the company. ValuEngine upgraded Telefonaktiebolaget LM Ericsson from a “hold” rating to a “buy” rating in a research note on Thursday, June 21st. BMO Capital Markets restated a “hold” rating on shares of Telefonaktiebolaget LM Ericsson in a research note on Friday, April 20th. Charter Equity upgraded Telefonaktiebolaget LM Ericsson from a “market perform” rating to a “buy” rating in a research note on Monday, April 23rd. Cowen raised shares of Telefonaktiebolaget LM Ericsson from an “underperform” rating to a “market perform” rating and increased their price target for the stock from $3.00 to $7.00 in a research report on Friday, April 20th. Finally, BidaskClub raised shares of Telefonaktiebolaget LM Ericsson from a “sell” rating to a “hold” rating in a research report on Friday, June 22nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $6.43.

Several hedge funds have recently modified their holdings of the company. Financial Gravity Companies Inc. lifted its holdings in Telefonaktiebolaget LM Ericsson by 62.9% in the first quarter. Financial Gravity Companies Inc. now owns 18,492 shares of the communications equipment provider’s stock worth $138,000 after acquiring an additional 7,141 shares during the last quarter. Natixis Advisors L.P. lifted its holdings in Telefonaktiebolaget LM Ericsson by 4.2% in the first quarter. Natixis Advisors L.P. now owns 212,801 shares of the communications equipment provider’s stock worth $1,362,000 after acquiring an additional 8,644 shares during the last quarter. Stifel Financial Corp lifted its holdings in Telefonaktiebolaget LM Ericsson by 7.2% in the first quarter. Stifel Financial Corp now owns 178,785 shares of the communications equipment provider’s stock worth $1,138,000 after acquiring an additional 12,057 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Telefonaktiebolaget LM Ericsson by 37.4% in the first quarter. PNC Financial Services Group Inc. now owns 55,269 shares of the communications equipment provider’s stock worth $354,000 after acquiring an additional 15,033 shares during the last quarter. Finally, Eventide Asset Management LLC lifted its holdings in Telefonaktiebolaget LM Ericsson by 21.1% in the first quarter. Eventide Asset Management LLC now owns 115,000 shares of the communications equipment provider’s stock worth $736,000 after acquiring an additional 20,000 shares during the last quarter. 8.72% of the stock is currently owned by institutional investors and hedge funds.

About Telefonaktiebolaget LM Ericsson

Telefonaktiebolaget LM Ericsson (publ) provides information and communications technology solutions for networks, IT and cloud, and media markets worldwide. It operates through four segments: Networks, Digital Services, Managed Services, and Other. The Networks segment provides mobile radio access networks, transport solutions, and site solutions, as well as related services, such as network rollout, network tuning, and customer support.

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