BlackBerry (TSE:BB) Trading Down 3.7% - Time to Sell?

Key Points

• BlackBerry shares fell 3.7% to C$11.44 during Tuesday trading, with about 3.69 million shares changing hands. The stock remains below its 50-day moving average of C$13.39 but above its 200-day average of C$8.29.
• Analysts maintain a cautiously positive outlook, with a consensus “Moderate Buy” rating and a C$12.00 price target. Stifel Nicolaus separately reiterated a Buy rating at the same target.
• BlackBerry reported quarterly EPS of C$0.06 on revenue of C$210.94 million, while insiders sold 90,901 shares worth approximately C$1.47 million over the past 90 days.

Shares of BlackBerry Limited (TSE:BB - Get Free Report) NASDAQ: BBRY were down 3.7% during trading on Tuesday . The stock traded as low as C$10.88 and last traded at C$11.44. Approximately 3,693,708 shares changed hands during mid-day trading, a decline of 9% from the average daily volume of 4,079,468 shares. The stock had previously closed at C$11.88.

Analysts Set New Price Targets

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

BlackBerry Trading Down 3.7%

The business has a 50 day simple moving average of C$13.39 and a 200 day simple moving average of C$8.29. The company has a debt-to-equity ratio of 29.45, a current ratio of 2.20 and a quick ratio of 1.49. The company has a market cap of C$6.70 billion, a price-to-earnings ratio of 114.40, a price-to-earnings-growth ratio of 0.06 and a beta of 1.16.

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

Insider Activity at BlackBerry

In other news, insider Tim Foote sold 16,597 shares of BlackBerry stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of C$17.21, for a total value of C$285,634.37. Following the completion of the sale, 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 position. Also, insider Philip Simon Kurtz sold 30,000 shares of the company's stock in a transaction on Tuesday, July 14th. The shares were sold at an average price of C$15.92, for a total value of C$477,600.00. Following the transaction, the insider directly owned 95,158 shares in the company, valued at C$1,514,915.36. This trade represents a 23.97% decrease in their position. Insiders have sold a total of 90,901 shares of company stock valued at $1,473,162 over the last ninety days. Company 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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