BlackBerry (TSE:BB) Stock Price Passes Above 200-Day Moving Average - Should You Sell?

Key Points

• BlackBerry shares rose above their 200-day moving average, reaching as high as C$16.04 before last trading around C$15.47. The move comes as the stock continues to trade well above its longer-term average of C$7.83.
• Wall Street sentiment remains cautiously positive, with Stifel Nicolaus assigning a C$12 target and a “buy” rating. Overall, MarketBeat data shows a consensus rating of Moderate Buy with an average target price of C$12.00.
• The company recently reported C$0.06 EPS on revenue of C$210.94 million, while insiders have also been selling shares. Over the last 90 days, insiders sold 60,901 shares, including notable sales by John Joseph Giamatteo and Philip Simon Kurtz.

BlackBerry Limited (TSE:BB - Get Free Report) NASDAQ: BBRY's stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$7.83 and traded as high as C$16.04. BlackBerry shares last traded at C$15.47, with a volume of 5,233,956 shares.

Wall Street Analysts Forecast Growth

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

BlackBerry Stock Performance

The business's fifty day moving average price is C$12.63 and its two-hundred day moving average price is C$7.83. The company has a debt-to-equity ratio of 29.45, a quick ratio of 1.49 and a current ratio of 2.20. The stock has a market capitalization of C$9.07 billion, a P/E ratio of 154.70, a P/E/G ratio of 0.06 and a beta of 1.16.

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

Insider Buying and Selling

In other BlackBerry news, insider John Joseph Giamatteo sold 28,272 shares of the company's stock in a transaction that occurred on 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 sale, the insider directly owned 937,246 shares in the company, valued at C$14,424,215.94. This represents a 2.93% decrease in their ownership of the stock. Also, insider Philip Simon Kurtz sold 4,195 shares of the firm's stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of C$16.39, for a total value of C$68,756.05. Following the completion of the sale, the insider directly owned 120,664 shares of the company's stock, valued at C$1,977,682.96. The trade was a 3.36% decrease in their ownership of the stock. Over the last ninety days, insiders sold 60,901 shares of company stock valued at $995,562. 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.

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