LM Ericsson Telephone Rises On Unusually High Volume (ERIC)
LM Ericsson Telephone Company (Nasdaq:ERIC) is trading at unusually high volume Wednesday with 10.2 million shares changing hands. It is currently at 2.1 times its average daily volume and trading up 48 cents (+4.1%).
Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model. NEW YORK ( TheStreet) -- LM Ericsson Telephone Company (Nasdaq: ERIC) is trading at unusually high volume Wednesday with 10.2 million shares changing hands. It is currently at 2.1 times its average daily volume and trading up 48 cents (+4.1%) at $12.02 as of 2:36 p.m. ET.
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LM Ericsson Telephone has a market cap of $38.6 billion and is part of the technology sector and telecommunications industry. Shares are up 15.6% year to date as of the close of trading on Tuesday. Ericsson provides telecommunications equipment and services to mobile and fixed network operators worldwide. It operates in four segments: Networks, Global Services, Support Solutions, and ST-Ericsson. The company has a P/E ratio of 15.8, below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates LM Ericsson Telephone as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full LM Ericsson Telephone Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Exclusive Offer: Jim Cramer's 'go-to' small/mid-cap guru Bryan Ashenberg only buys stocks he thinks could return 50-100% See his top picks for 14-days FREE.