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Ericsson (ERIC) Surges: Stock Moves 9.3% Higher

Zacks Equity Research
Updated

Telefonaktiebolaget LM Ericsson (publ) ERIC was a big mover last session, as the company saw its shares rise more than 9% on Friday. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $5.60 to $5.98 in the past one-month time frame.

The company has seen one negative estimate revision in the past one month, while its Zacks Consensus Estimate has also moved lower in the said time period, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.

Ericsson currently has a Zacks Rank #5 (Strong Sell) while its Earnings ESP is negative. 

Ericsson Price

Ericsson Price | Ericsson Quote

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A better-ranked stock in the Wireless Equipment industry is Sonus Networks, Inc. SONS, which currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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Ericsson (ERIC) : Free Stock Analysis Report
 
Sonus Networks, Inc. (SONS) : Free Stock Analysis Report
 
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Zacks Investment Research