Taking this into account, UBS downgraded its Telefonaktiebolaget L M Ericsson ADR [ERIC] rating to a Sell from a a Neutral in a research note published recently. A number of analysts have revised their coverage, including Barclays’s analysts, who decreased its forecast for the stock in mid January from “an Equal weight” to “an Underweight”. Jefferies also remained covering ERIC and has increased its forecast on December 08, 2023 with a “Buy” recommendation from previously “Hold” rating. JP Morgan revised its rating on November 30, 2023. It rated ERIC as “a Neutral” which previously was an “an Overweight”.
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Price Performance Review of ERIC
On Tuesday, Telefonaktiebolaget L M Ericsson ADR [NASDAQ:ERIC] saw its stock fall -0.35% to $8.43. Over the last five days, the stock has lost -1.17%. Telefonaktiebolaget L M Ericsson ADR shares have risen nearly 33.81% since the year began. Nevertheless, the stocks have risen 87.75% over the past one year. While a 52-week high of $8.62 was reached on 10/15/24, a 52-week low of $4.33 was recorded on 04/15/24. SMA at 50 days reached $7.52, while 200 days put it at $6.22.
Levels Of Support And Resistance For ERIC Stock
The 24-hour chart illustrates a support level at 8.38, which if violated will result in even more drops to 8.33. On the upside, there is a resistance level at 8.48. A further resistance level may holdings at 8.53. The Relative Strength Index (RSI) on the 14-day chart is 69.33, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.57, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 14.50%. Stochastics %K at 88.05% indicates the stock is a selling.
How much short interest is there in Telefonaktiebolaget L M Ericsson ADR?
A steep rise in short interest was recorded in Telefonaktiebolaget L M Ericsson ADR stocks on 2024-09-30, growing by 11.4 million shares to a total of 30.78 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 19.37 million shares. There was a rise of 37.05%, which implies that there is a positive sentiment for the stock.
