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Shares of Ericsson (NASDAQ:ERIC) were the recipient of a large decrease in short interest in the month of July. As of July 31st, there was short interest totalling 8,688,046 shares, a decrease of 32.2% from the July 15th total of 12,807,097 shares, reports. Approximately 0.0% of the company’s stock are short sold. Based on an average daily trading volume, of 5,145,841 shares, the days-to-cover ratio is presently 1.7 days.

A number of analysts have recently weighed in on ERIC shares. Analysts at SEB upgraded shares of Ericsson to a “buy” rating in a research note on Monday, July 21st. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Ericsson in a research note on Monday, July 21st. They now have a $14.00 price target on the stock, up previously from $13.50. Finally, analysts at JPMorgan Chase & Co. downgraded shares of Ericsson to a “focus list” rating in a research note on Wednesday, July 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $13.14.

Ericsson (NASDAQ:ERIC) opened at 12.37 on Tuesday. Ericsson has a one year low of $11.50 and a one year high of $14.22. The stock’s 50-day moving average is $12. and its 200-day moving average is $12.46. The company has a market cap of $40.029 billion and a P/E ratio of 19.54.

Ericsson (NASDAQ:ERIC) last issued its quarterly earnings data on Friday, July 18th. The company reported $1.07 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.02 by $0.05. The company had revenue of $54.80 billion for the quarter, compared to the consensus estimate of $52.60 billion. During the same quarter last year, the company posted $0.88 earnings per share. Ericsson’s revenue was down .9% compared to the same quarter last year. On average, analysts predict that Ericsson will post $0.76 earnings per share for the current fiscal year.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) is an information and communications technology (ICT) solutions provider.

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