BlackBerry (TSE:BB) Stock Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• BlackBerry shares crossed above their 200-day moving average, reaching C$11.54 before closing at C$11.28, compared with a 200-day average of C$9.15.
• Stifel Nicolaus assigned BlackBerry a “buy” rating and a C$12.00 price target; analysts overall gave the stock a “Moderate Buy” consensus rating with the same average target.
• BlackBerry reported quarterly revenue of C$210.94 million and earnings of C$0.06 per share, while insiders sold 90,901 shares worth approximately $1.47 million over the past three months.

Shares of BlackBerry Limited (TSE:BB - Get Free Report) NASDAQ: BBRY crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$9.15 and traded as high as C$11.54. BlackBerry shares last traded at C$11.28, with a volume of 1,758,085 shares traded.

Analysts Set New Price Targets

Separately, Stifel Nicolaus set a C$12.00 price target on shares of BlackBerry and gave the company a "buy" rating in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of C$12.00.

BlackBerry Price Performance

The company has a 50-day moving average of C$13.40 and a 200 day moving average of C$9.15. The company has a quick ratio of 1.49, a current ratio of 2.20 and a debt-to-equity ratio of 29.45. The stock has a market capitalization of C$6.61 billion, a PE ratio of 112.80, a PEG ratio of 0.06 and a beta of 1.17.

BlackBerry (TSE:BB - Get Free Report) NASDAQ: BBRY last announced its quarterly earnings data on Thursday, June 25th. The company reported C$0.06 earnings per share for the quarter. BlackBerry had a return on equity of 8.10% and a net margin of 10.32%.The company had revenue of C$210.94 million for the quarter. Sell-side analysts predict that BlackBerry Limited will post 0.0551903 EPS for the current year.

Insider Buying and Selling at BlackBerry

In other news, insider Tim Foote sold 16,597 shares of the firm's stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of C$17.21, for a total value of C$285,634.37. Following the transaction, the insider directly owned 68,896 shares of the company's stock, valued at approximately C$1,185,700.16. This trade represents a 19.41% decrease in their ownership of the stock. Also, insider John Joseph Giamatteo sold 28,272 shares of the business's stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of C$15.39, for a total transaction of C$435,106.08. Following the transaction, the insider owned 937,246 shares in the company, valued at C$14,424,215.94. The trade was a 2.93% decrease in their ownership of the stock. In the last three months, insiders sold 90,901 shares of company stock valued at $1,473,162. Corporate insiders own 1.70% of the company's stock.

About BlackBerry

BlackBerry NYSE: BBTSX: BB provides enterprises and governments the intelligent software and services that power the world around us. Based in Waterloo, Ontario, the company's high-performance foundational software enables major automakers and industrial giants alike to unlock transformative applications, drive new revenue streams and launch innovative business models, all without sacrificing safety, security, and reliability. With a deep heritage in Secure Communications, BlackBerry delivers operational resiliency with a comprehensive, highly secure, and extensively certified portfolio for mobile fortification, mission-critical communications, and critical events management.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source