Ericsson (NASDAQ:ERIC) Upgraded at Argus

Argus upgraded shares of Ericsson (NASDAQ:ERIC) to a hold rating in a report issued on Monday morning,Zacks.com reports.

Other analysts also recently issued research reports about the stock. Jefferies Financial Group upgraded shares of Ericsson to a “hold” rating in a report on Monday, October 13th. Citigroup reissued a “neutral” rating on shares of Ericsson in a research note on Friday, January 16th. Wall Street Zen lowered Ericsson from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 18th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ericsson in a report on Monday, December 29th. Finally, Danske lowered shares of Ericsson to a “hold” rating in a report on Wednesday, October 15th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $9.80.

Ericsson Trading Down 2.1%

Shares of ERIC opened at $10.88 on Monday. Ericsson has a 12-month low of $6.64 and a 12-month high of $11.22. The firm has a market capitalization of $36.68 billion, a P/E ratio of 12.36, a P/E/G ratio of 1.99 and a beta of 0.92. The firm has a 50-day moving average price of $9.65 and a 200 day moving average price of $8.82. The company has a current ratio of 1.29, a quick ratio of 0.94 and a debt-to-equity ratio of 0.26.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ERIC. Jones Financial Companies Lllp lifted its holdings in Ericsson by 12.4% during the 3rd quarter. Jones Financial Companies Lllp now owns 13,017 shares of the communications equipment provider’s stock worth $107,000 after buying an additional 1,441 shares in the last quarter. Hennessy Advisors Inc. grew its stake in shares of Ericsson by 10.3% in the fourth 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 in the last quarter. Geode Capital Management LLC increased its position in shares of Ericsson by 0.7% during the second quarter. Geode Capital Management LLC now owns 250,389 shares of the communications equipment provider’s stock worth $2,123,000 after acquiring an additional 1,658 shares during the period. Brown Brothers Harriman & Co. purchased a new stake in shares of Ericsson during the third quarter worth $28,000. Finally, 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 acquiring an additional 4,330 shares in the last quarter. Institutional investors and hedge funds own 7.99% of the company’s stock.

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.