BlackBerry (TSE:BB) Share Price Crosses Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• BlackBerry shares rose above their 200-day moving average, reaching C$11.03 and last trading at C$10.81, compared with the 200-day average of C$9.72.
• Analysts maintain a cautiously positive outlook: Stifel Nicolaus assigned a C$12.00 price target and a “Buy” rating, while the overall consensus is “Moderate Buy.”
• Recent insider selling may concern investors, with insiders selling 90,901 shares worth about C$1.47 million over the past three months; the company reported C$0.06 quarterly EPS and C$210.94 million in revenue.

Shares of BlackBerry Limited (TSE:BB - Get Free Report) NASDAQ: BBRY passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$9.72 and traded as high as C$11.03. BlackBerry shares last traded at C$10.81, with a volume of 2,765,063 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus set a C$12.00 price target on BlackBerry and gave the stock a "buy" rating in a research report on Wednesday, June 24th. One research 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 has a consensus rating of "Moderate Buy" and a consensus target price of C$12.00.

BlackBerry Price Performance

The stock has a market capitalization of C$6.34 billion, a price-to-earnings ratio of 108.10, a P/E/G ratio of 0.06 and a beta of 1.31. 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 business's 50 day simple moving average is C$12.67 and its 200-day simple moving average is C$9.72.

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

Insider Activity

In other news, insider Philip Simon Kurtz sold 30,000 shares of BlackBerry stock in a transaction 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 owned 95,158 shares in the company, valued at approximately C$1,514,915.36. This trade represents a 23.97% decrease in their position. Also, insider Jennifer Mary Armstrong-Owen sold 2,556 shares of BlackBerry stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of C$15.39, for a total value of C$39,336.84. Following the completion of the transaction, the insider owned 101,751 shares in the company, valued at approximately C$1,565,947.89. The trade was a 2.45% decrease in their position. Insiders have sold 90,901 shares of company stock valued at $1,473,162 in the last three months. 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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