Ericsson (NASDAQ:ERIC) shares gapped up prior to trading on Thursday . The stock had previously closed at $5.69, but opened at $5.87. Ericsson shares last traded at $6.09, with a volume of 2622357 shares trading hands.

Several research analysts have recently issued reports on ERIC shares. BidaskClub lowered shares of Ericsson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 27th. Canaccord Genuity reduced their target price on shares of Ericsson from $5.75 to $5.25 and set a “hold” rating on the stock in a research note on Monday, October 23rd. ValuEngine raised shares of Ericsson from a “sell” rating to a “hold” rating in a research note on Saturday, October 21st. BMO Capital Markets reaffirmed a “hold” rating and issued a $6.00 target price on shares of Ericsson in a research note on Friday, October 20th. Finally, Danske lowered shares of Ericsson from a “buy” rating to a “hold” rating in a research note on Thursday, August 31st. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. Ericsson presently has a consensus rating of “Hold” and an average price target of $5.34.

The company has a debt-to-equity ratio of 0.24, a current ratio of 1.72 and a quick ratio of 1.35.

Ericsson (NASDAQ:ERIC) last released its quarterly earnings data on Friday, October 20th. The communications equipment provider reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.07). Ericsson had a negative return on equity of 5.67% and a negative net margin of 8.60%. The firm had revenue of $47.80 billion for the quarter, compared to the consensus estimate of $47.21 billion. During the same period in the previous year, the business earned $0.34 EPS. The firm’s revenue was down 6.5% compared to the same quarter last year. research analysts forecast that Ericsson will post -0.13 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the stock. GenTrust LLC bought a new position in Ericsson during the 2nd quarter worth approximately $120,000. Ronald Blue & Co. LLC lifted its stake in Ericsson by 7.0% in the second quarter. Ronald Blue & Co. LLC now owns 19,716 shares of the communications equipment provider’s stock valued at $141,000 after buying an additional 1,283 shares in the last quarter. Advisor Group Inc. lifted its stake in Ericsson by 14.4% in the second quarter. Advisor Group Inc. now owns 19,964 shares of the communications equipment provider’s stock valued at $143,000 after buying an additional 2,520 shares in the last quarter. Regal Investment Advisors LLC lifted its stake in Ericsson by 121.2% in the third quarter. Regal Investment Advisors LLC now owns 26,271 shares of the communications equipment provider’s stock valued at $151,000 after buying an additional 14,397 shares in the last quarter. Finally, Well Done LLC bought a new position in Ericsson in the third quarter valued at approximately $173,000. 7.94% of the stock is currently owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY NOTICE: “Ericsson (ERIC) Shares Gap Up to $5.87” was published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of U.S. & international copyright laws. The legal version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/11/17/ericsson-eric-shares-gap-up-to-5-87.html.

About Ericsson

Telefonaktiebolaget LM Ericsson (Ericsson) provides infrastructure, services and software to the telecommunication industry and other sectors. The Company’s segments include Networks, IT & Cloud and Media. The Networks segment consists of two business units: Network Products and Network Services. The overall focus is on evolving and managing access networks, including the development of hardware and software for radio access and transport networks.

Receive News & Stock Ratings for Ericsson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ericsson and related stocks with our FREE daily email newsletter.