In the meantime, UBS downgraded its Telefonaktiebolaget L M Ericsson ADR [ERIC] rating to a Sell from a a Neutral in a research note published on 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 jump 3.10% to $8.31. Over the last five days, the stock has gained 2.85%. Telefonaktiebolaget L M Ericsson ADR shares have risen nearly 31.90% since the year began. Nevertheless, the stocks have risen 68.90% over the past one year. While a 52-week high of $8.62 was reached on 10/15/24, a 52-week low of $4.77 was recorded on 04/15/24. SMA at 50 days reached $7.93, while 200 days put it at $6.47.
Levels Of Support And Resistance For ERIC Stock
The 24-hour chart illustrates a support level at 8.02, which if violated will result in even more drops to 7.73. On the upside, there is a resistance level at 8.56. A further resistance level may holdings at 8.81. The Relative Strength Index (RSI) on the 14-day chart is 57.20, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.08, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 38.71%. Stochastics %K at 29.30% indicates the stock is a holding.
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 2024-10-31, dropping by -1.0 million shares to a total of 29.77 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 30.78 million shares. There was a decline of -3.37%, which implies that there is a negative sentiment for the stock.
