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

Key Points

• BlackBerry shares crossed above their 200-day moving average, reaching C$12.43 before closing at C$12.27, compared with the C$10.27 long-term average.
• Analyst sentiment is cautiously positive: Stifel Nicolaus assigned a “Buy” rating and a C$12.00 price target, while the overall consensus is “Moderate Buy” from one Buy and one Hold rating.
• Recent results included C$0.07 in quarterly earnings per share and C$226.23 million in revenue, while insiders sold 90,901 shares worth about C$1.47 million over the past three months.

Shares of BlackBerry Limited (TSE:BB - Get Free Report) NASDAQ: BBRY crossed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of C$10.27 and traded as high as C$12.43. BlackBerry shares last traded at C$12.27, with a volume of 6,886,175 shares traded.

Wall Street Analyst Weigh In

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

BlackBerry Stock Performance

The company has a current ratio of 2.20, a quick ratio of 1.49 and a debt-to-equity ratio of 29.45. The firm has a market cap of C$7.19 billion, a PE ratio of 122.70, a P/E/G ratio of 0.06 and a beta of 1.31. The stock's 50 day moving average price is C$11.59 and its 200 day moving average price is C$10.27.

BlackBerry (TSE:BB - Get Free Report) NASDAQ: BBRY last announced its quarterly earnings results on Thursday, September 24th. The company reported C$0.07 earnings per share 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$226.23 million during the quarter. As a group, equities analysts forecast that BlackBerry Limited will post 0.0551903 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider John Joseph Giamatteo sold 28,272 shares of the firm'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 sale, the insider directly owned 937,246 shares in the company, valued at approximately C$14,424,215.94. This trade represents a 2.93% decrease in their position. Also, insider Philip Simon Kurtz sold 30,000 shares of the business's stock in a transaction that occurred on Tuesday, July 14th. The stock was 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 ownership of the stock. Insiders sold 90,901 shares of company stock worth $1,473,162 over the last three months. 1.70% of the stock is currently owned by corporate insiders.

BlackBerry Company Profile

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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