Ericsson (ERIC) has been under a strong bear grip, hence the stock is down -2.94% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 1.26% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.78% in the last 1 week, and is up 1.3% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock. The stock has recorded a 20-day Moving Average of 1.68% and the 50-Day Moving Average is 1.82%.
Ericsson (NASDAQ:ERIC): The stock opened at $7.82 on Friday but the bulls could not build on the opening and the stock topped out at $7.82 for the day. The stock traded down to $7.77 during the day, due to lack of any buying support eventually closed down at $7.77 with a loss of -0.64% for the day. The stock had closed at $7.82 on the previous day. The total traded volume was 2,311,366 shares.
Institutional Investors own 7.33% of Ericsson shares.
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.