Is It Right Time to Be Bullish on Transocean Ltd. (RIG), Telefonaktiebolaget LM Ericsson (publ) (ERIC)?

    The shares of Transocean Ltd. (NYSE:RIG) has been pegged with a rating of Neutral by Citigroup in its latest research note that was published on June 14th, 2019. Citigroup wasn’t the only research firm that published a report of Transocean Ltd., with other equities research analysts also giving their opinion on the stock. BofA/Merrill advised investors in its research note published on June 10th, 2019, to Neutral the RIG stock. The stock had earned Buy rating from Goldman when it published its report on March 11th, 2019. That day the Goldman set price target on the stock to $11. The stock was given Outperform rating by Credit Suisse in its report released on December 13th, 2018, the day when the price target on the stock was placed at $14. Johnson Rice was of a view that RIG is Hold in its latest report on October 17th, 2018. RBC Capital Mkts thinks that RIG is worth Outperform rating. This was contained in the firm’s report on September 20th, 2018.

    The consensus currently stands at a Hold while its average price target is $10.31. The price of the stock the last time has raised by 24.73% from its Week high price while it is raised higher than its 52-Week low price. A look at the stock’s other technical shows that its 14-day RSI now stands at 48.56.

    The shares of the company added by 4.69% during the trading session on Thursday, reaching a low of $4.55 while ending the day at $4.69. During the trading session, a total of 17.03 million shares were traded which represents a 12.38% incline from the average session volume which is 19.44M shares. RIG had ended its last session trading at 4.48. Transocean Ltd. currently has a market cap of $2.89B while its P/E earnings growth sits at 0.94, with a beta of 1.85. Transocean Ltd. debt-to-equity ratio currently stands at 0.76, while its quick ratio hovers at 2.50. RIG 52-week low price stands at $3.76 while its 52-week high price is $14.47.

    Investment analysts at Credit Suisse published a research note on May 24th, 2019 where it informed investors and clients that Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) is now rated as Outperform. BofA/Merrill also rated ERIC as Resumed on June 10th, 2019, with its price target of $51 suggesting that ERIC could surge by 26.23% from its current share price. Even though the stock has been trading at $7.70/share, analysts expect it to surge higher by 1.17% to reach $10.56/share. It started the day trading at $7.79 and traded between $7.70 and $7.79 throughout the trading session.

    A look at its technical shows that ERIC’s 50-day SMA is 8.77 while its 200-day SMA stands at 9.10. The stock has a high of $10.46 for the year while the low is $7.58. The company’s P/E ratio currently sits at 1298.33, while the P/B ratio is 2.97. At the moment, only of Telefonaktiebolaget LM Ericsson (publ) shares were sold short. The company’s average trading volume currently stands at 6.16M shares, which means that the short-interest ratio is just 1.23 days. Over the past seven days, the company moved, with its shift of -1.39%. Looking further, the stock has dropped -20.10% over the past 90 days while it lost -15.69% over the last six months.

    The change in the stock’s fortunes has led to several institutional investors altering their holdings of the stock. PRIMECAP Management Co sold more ERIC shares, decreasing its portfolio by -0.48% during the last quarter. This move now sees PRIMECAP Management Co selling -634,460 shares in the last quarter, thus it now holds 132,176,786 shares of ERIC, with a total valuation of $1,151,259,806. Hotchkis Wiley Capital Manageme meanwhile bought more ERIC shares in the recently filed quarter, changing its stake to $223,937,767 worth of shares. Renaissance Technologies LLC followed the path by increasing its ERIC portfolio by +10.70% in the quarter. This means that Renaissance Technologies LLC bought 2,259,100 shares in the last quarter and now controls 23,362,900 shares of the ERIC stock, with the valuation hitting $203,490,859.

    Similarly, Arrowstreet Capital LP decreased its Telefonaktiebolaget LM Ericsson (publ) shares by -26.76% during the recently filed quarter. Following these latest developments, around 0.90% of Telefonaktiebolaget LM Ericsson (publ) stocks are owned by institutional investors and hedge funds.