Stock Traders Purchase High Volume of Put Options on Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC)

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) was the target of unusually large options trading activity on Friday. Traders purchased 1,238 put options on the company. This is an increase of 1,508% compared to the average daily volume of 77 put options.

Several equities analysts recently weighed in on ERIC shares. Zacks Investment Research lowered shares of Telefonaktiebolaget LM Ericsson from a “hold” rating to a “strong sell” rating in a research report on Friday, October 6th. Citigroup downgraded shares of Telefonaktiebolaget LM Ericsson from a “buy” rating to a “neutral” rating in a research note on Thursday, November 9th. BidaskClub upgraded shares of Telefonaktiebolaget LM Ericsson from a “strong sell” rating to a “sell” rating in a research note on Tuesday, January 16th. ValuEngine upgraded shares of Telefonaktiebolaget LM Ericsson from a “sell” rating to a “hold” rating in a research note on Saturday, October 21st. Finally, Canaccord Genuity reissued a “hold” rating and set a $6.50 price objective on shares of Telefonaktiebolaget LM Ericsson in a report on Thursday, December 21st. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $5.59.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Advisor Group Inc. lifted its stake in Telefonaktiebolaget LM Ericsson by 14.4% in the 2nd quarter. Advisor Group Inc. now owns 19,964 shares of the communications equipment provider’s stock valued at $143,000 after acquiring an additional 2,520 shares in the last quarter. First Allied Advisory Services Inc. raised its stake in shares of Telefonaktiebolaget LM Ericsson by 14.1% during the 2nd quarter. First Allied Advisory Services Inc. now owns 24,841 shares of the communications equipment provider’s stock worth $176,000 after purchasing an additional 3,064 shares in the last quarter. Regal Investment Advisors LLC raised its stake in shares of Telefonaktiebolaget LM Ericsson by 121.2% during the 3rd quarter. Regal Investment Advisors LLC now owns 26,271 shares of the communications equipment provider’s stock worth $151,000 after purchasing an additional 14,397 shares in the last quarter. Well Done LLC bought a new stake in shares of Telefonaktiebolaget LM Ericsson during the 3rd quarter worth approximately $173,000. Finally, Mackenzie Financial Corp raised its stake in shares of Telefonaktiebolaget LM Ericsson by 30.2% during the 3rd quarter. Mackenzie Financial Corp now owns 36,015 shares of the communications equipment provider’s stock worth $207,000 after purchasing an additional 8,351 shares in the last quarter. Hedge funds and other institutional investors own 8.07% of the company’s stock.

Telefonaktiebolaget LM Ericsson (ERIC) opened at $7.29 on Monday. The company has a current ratio of 1.72, a quick ratio of 1.35 and a debt-to-equity ratio of 0.24. Telefonaktiebolaget LM Ericsson has a 12-month low of $5.52 and a 12-month high of $7.47. The stock has a market capitalization of $24,305.95, a PE ratio of -11.95, a PEG ratio of 30.65 and a beta of 1.10.

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

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About Telefonaktiebolaget LM 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.

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