BlackBerry (TSE:BB) Stock Price Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• Shares of BlackBerry passed above its 200‑day moving average, trading as high as C$6.47 and last at C$6.42 versus the 200‑day MA of C$5.49, on volume of about 5.04 million shares and a roughly 13.6% intraday gain.
• TD Securities upgraded BlackBerry to a "hold" on Dec. 22, and the MarketBeat consensus rating is currently Hold (based on one analyst).
• BlackBerry, now focused on enterprise security and embedded software for regulated industries, has a market cap of C$3.77B, a high P/E of 71.33, solid liquidity (current ratio 2.12, quick ratio 1.49) and a debt/equity of 2.52.

BlackBerry Limited (TSE:BB - Get Free Report) NASDAQ: BBRY shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$5.49 and traded as high as C$6.47. BlackBerry shares last traded at C$6.42, with a volume of 5,036,850 shares.

Wall Street Analyst Weigh In

Separately, TD Securities upgraded BlackBerry to a "hold" rating in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of "Hold".

BlackBerry Stock Up 13.6%

The company has a quick ratio of 1.49, a current ratio of 2.12 and a debt-to-equity ratio of 2.52. The company has a fifty day simple moving average of C$4.77 and a 200-day simple moving average of C$5.49. The firm has a market cap of C$3.77 billion, a P/E ratio of 71.33, a price-to-earnings-growth ratio of 0.06 and a beta of 0.04.

About BlackBerry

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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