BlackBerry (TSE:BB) Shares Cross Above 200-Day Moving Average - Time to Sell?

Key Points

• BlackBerry shares have surged above their 200-day moving average of C$5.40, reaching a high of C$6.93 before closing at C$6.28.
• TD Securities upgraded BlackBerry's rating to "hold" as of October 3rd, with a consensus price target of C$4.75 among analysts.
• The company reported earnings of C$0.02 per share for the last quarter, surpassing expectations, but continues to face challenges with a negative net margin of 21.16%.

BlackBerry Limited (TSE:BB - Get Free Report) NASDAQ: BBRY shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$5.40 and traded as high as C$6.93. BlackBerry shares last traded at C$6.28, with a volume of 3,343,928 shares trading hands.

Analyst Ratings Changes

Separately, TD Securities raised shares of BlackBerry to a "hold" rating in a research note on Friday, October 3rd. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of C$4.75.

BlackBerry Trading Down 7.4%

The firm has a market capitalization of C$3.71 billion, a PE ratio of 112.50, a price-to-earnings-growth ratio of 0.06 and a beta of 0.98. The company's 50-day simple moving average is C$5.64 and its 200 day simple moving average is C$5.40. The company has a quick ratio of 1.49, a current ratio of 1.37 and a debt-to-equity ratio of 30.90.

BlackBerry (TSE:BB - Get Free Report) NASDAQ: BBRY last posted its quarterly earnings data on Thursday, September 25th. The company reported C$0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.01 by C$0.01. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 17.21%. As a group, sell-side analysts expect that BlackBerry Limited will post 0.0551903 EPS for the current year.

BlackBerry Company Profile

BlackBerry, once known for being the world's largest smartphone manufacturer, is now exclusively a software provider with a stated goal of end-to-end secure communication for enterprises. The firm provides endpoint management and protection to enterprises, specializing in regulated industries like government, as well as embedded software to the automotive, medical, and industrial markets.

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