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Shares of Ericsson (NASDAQ:ERIC) saw a significant growth in short interest in May. As of May 30th, there was short interest totalling 9,077,070 shares, a growth of 47.2% from the May 15th total of 6,164,430 shares, Stock Ratings News reports. Based on an average trading volume of 2,725,148 shares, the short-interest ratio is currently 3.3 days. Approximately 0.0% of the company’s stock are short sold.

A number of analysts have recently weighed in on ERIC shares. Analysts at Zacks reiterated a “neutral” rating on shares of Ericsson in a research note on Thursday, May 15th. They now have a $13.00 price target on the stock. Separately, analysts at Argus downgraded shares of Ericsson from a “buy” rating to a “hold” rating in a research note on Friday, April 25th. Finally, analysts at Evercore Partners cut their price target on shares of Ericsson from $17.00 to $15.00 in a research note on Thursday, April 24th. They now have an “overweight” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $14.50.

Shares of Ericsson (NASDAQ:ERIC) opened at 12.30 on Friday. Ericsson has a one year low of $10.67 and a one year high of $14.22. The stock’s 50-day moving average is $12.25 and its 200-day moving average is $12.42. The company has a market cap of $39.776 billion and a price-to-earnings ratio of 20.79.

Ericsson (NASDAQ:ERIC) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by $0.03. The company had revenue of $47.50 billion for the quarter, compared to the consensus estimate of $51.40 billion. During the same quarter in the previous year, the company posted $0.99 earnings per share. The company’s revenue for the quarter was down 8.7% on a year-over-year basis. Analysts expect that Ericsson will post $0.76 EPS for the current fiscal year.

Ericsson is a Sweden-based company that provides communications networks, telecom services and support solutions.

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