It is currently trading at $6.44 which is significantly higher than $5.80, the stock’s 50 day moving average and which is just over the 200 day moving average of $6.41. The 50 day moving average was up $0.64 or +11.13% whereas the 200 day moving average was up $0.03 or +0.45%. (NASDAQ:ERIC) shares saw heavy trading volume with 14,033K shares changing hands on Tuesday. Volume was up 85.77% over the stocks average daily volume.
Traders are a little more bearish on shares of Ericsson – ADS each representin of late if you consider the increase in short interest. The company experienced a rise in short interest between September 15, 2017 and September 29, 2017 of 25.59%. Short shares increased 5,685,193 over that period. With short interest at 27,900,979 and short average daily volume at 10,788,053, days to cover is 3.0 and the percentage of shorted shares was 0.01% on September 29.
These firms have modified their investment in ERIC. Quadrant Capital Group LLC downsized its position by shedding 19 shares a decrease of 20.9%. Quadrant Capital Group LLC now controls 72 shares worth $0. The value of the position overall is down by nan%. As of the end of the quarter Bank Of Montreal /can/ had disposed of a total of 1,098 shares trimming its stake by 88.7%. The value of the total investment in Ericsson – ADS each representin decreased from $9,000 to $1,000 a change of $8,000 quarter to quarter.
As of quarter end Boyd Watterson Asset Management LLC/oh had sold 1,174 shares trimming its holdings by 6.5%. The value of the investment in ERIC went from $130,000 to $97,000 a change of 25.4% for the reporting period. Howe & Rusling Inc divested its holdings by selling 1,394 shares a decrease of 41.6% as of 09/30/2017. Howe & Rusling Inc currently owns 1,955 shares with a value of $11,000. The total value of its holdings decreased 54.2%.
On October 3, 2017 the stock rating was rated “Underperform” by Credit Suisse which is down from the previous “Neutral” rating.
As of the last earnings report the EPS was $-0.53 and is expected to be $0.04 for the current year with 3,276,003,000 shares currently outstanding. Analysts expect next quarter’s EPS to be $-0.01 with next year’s EPS projected to be $0.23.
Telefonaktiebolaget LM Ericsson (Ericsson) provides infrastructure, services and software to the telecommunication industry and other sectors. The Business’s segments include Networks, IT & Cloud and Media. The Company operates in various geographical areas, including North America, Latin America, Northern Europe and Central Asia, Western and Central Europe, Mediterranean, the Middle East, Sub-Saharan Africa, India, North East Asia, South East Asia and Oceania, and other..