Ericsson (ERIC) : During the past 4 weeks, traders have been relatively bearish on Ericsson (ERIC), hence the stock is down -7.39% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -0.6% relative to the S&P 500. The 4-week change in the price of the stock is -6.44% and the stock has fallen -0.55% in the past 1 week.
The stock has recorded a 20-day Moving Average of 1.3% and the 50-Day Moving Average is 3.32%. Ericsson (NASDAQ:ERIC): On Fridays trading session , Opening price of the stock was $7.33 with an intraday high of $7.33. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $7.26. However, the stock managed to close at $7.27, a loss of 0.82% for the day. On the previous day, the stock had closed at $7.33. The total traded volume of the day was 1,203,567 shares.
Institutional Investors own 7.5% of Ericsson shares. Also, UBS downgrades its rating on Ericsson (NASDAQ:ERIC). Analysts at the UBS have a current rating of Neutral on the shares. The shares were previously rated Buy. The rating by the firm was issued on July 21, 2016.
Telefonaktiebolaget LM Ericsson (Ericsson) is a provider of communications technology and services. Ericsson offers services, software and infrastructure for mobility, broadband and the cloud in telecom industry and other sectors. Its two core businesses are Radio, Core and Transmission and Telecom Services. Ericsson operates in four business segments: Networks, Global Services, Support Solutions and Modems. It invests in five targeted areas: Internet protocol (IP) Networks; Cloud; operations and business support systems (OSS) and business support systems (BSS); TV and Media, and Industry and Society. Radio, Core and Transmission, as well as IP Networks and Cloud report into Networks segment and Telecom Services report into Global Services segment. The product and software deliveries of OSS and BSS, TV & Media, report into Support Solutions segment, while services related to these areas report into Global Services segment. Industry and Society reports into Global Services segment.