Stock Traders Buy High Volume of Call Options on Ericsson (NASDAQ:ERIC)

Ericsson (NASDAQ:ERIC) was the target of some unusual options trading activity on Tuesday. Investors acquired 2,369 call options on the stock. This is an increase of approximately 55% compared to the average volume of 1,531 call options.

Wall Street Analyst Weigh In

A number of brokerages have commented on ERIC. Citigroup reissued a “neutral” rating on shares of Ericsson in a report on Friday, January 16th. Danske downgraded Ericsson to a “hold” rating in a report on Wednesday, October 15th. Barclays reissued an “underweight” rating on shares of Ericsson in a research report on Wednesday, October 15th. Cfra Research upgraded Ericsson to a “hold” rating in a research note on Wednesday, October 15th. Finally, Wall Street Zen lowered shares of Ericsson from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 18th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $9.80.

Institutional Investors Weigh In On Ericsson

Large investors have recently modified their holdings of the stock. Brown Brothers Harriman & Co. purchased a new position in Ericsson in the third quarter valued at approximately $28,000. Cromwell Holdings LLC raised its stake in shares of Ericsson by 72.8% in the second quarter. Cromwell Holdings LLC now owns 10,276 shares of the communications equipment provider’s stock valued at $87,000 after buying an additional 4,330 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Ericsson by 12.4% in the third quarter. Jones Financial Companies Lllp now owns 13,017 shares of the communications equipment provider’s stock valued at $107,000 after buying an additional 1,441 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Ericsson during the 1st quarter valued at $126,000. Finally, Hennessy Advisors Inc. grew its stake in shares of Ericsson by 10.3% during the 4th quarter. Hennessy Advisors Inc. now owns 16,324 shares of the communications equipment provider’s stock worth $158,000 after acquiring an additional 1,518 shares during the period. Hedge funds and other institutional investors own 7.99% of the company’s stock.

Ericsson Stock Down 2.1%

Shares of NASDAQ:ERIC opened at $10.88 on Thursday. The company has a market capitalization of $36.68 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 1.99 and a beta of 0.92. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.29 and a quick ratio of 0.94. The business has a fifty day moving average price of $9.65 and a two-hundred day moving average price of $8.82. Ericsson has a 1 year low of $6.64 and a 1 year high of $11.22.

Ericsson Company Profile

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.