BlackBerry (TSE:BB) Shares Cross Above 200 Day Moving Average - Time to Sell?

Key Points

• BlackBerry shares moved above their 200-day moving average, reaching C$11.04 before closing at C$10.70, compared with the long-term average of C$9.97.
• Stifel Nicolaus assigned BlackBerry a “Buy” rating and a C$12.00 price target; overall analyst sentiment was “Moderate Buy,” based on one Buy and one Hold rating.
• Recent results included C$0.06 in quarterly EPS and C$210.94 million in revenue, while insiders sold 90,901 shares over the prior 90 days.

Shares of BlackBerry Limited (TSE:BB - Get Free Report) NASDAQ: BBRY crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$9.97 and traded as high as C$11.04. BlackBerry shares last traded at C$10.70, with a volume of 2,494,281 shares trading hands.

Analyst Upgrades and Downgrades

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

BlackBerry Stock Performance

The business has a 50-day moving average of C$11.99 and a two-hundred day moving average of C$9.97. The company has a market cap of C$6.27 billion, a P/E ratio of 107.00, a P/E/G ratio of 0.06 and a beta of 1.31. The company has a debt-to-equity ratio of 29.45, a current ratio of 2.20 and a quick ratio of 1.49.

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

Insider Activity

In other news, insider Philip Simon Kurtz sold 30,000 shares of BlackBerry stock in a transaction that occurred 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 owned 95,158 shares of the company's stock, valued at C$1,514,915.36. The trade was a 23.97% decrease in their position. Also, insider John Joseph Giamatteo sold 28,272 shares of the business'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 transaction, the insider owned 937,246 shares of the company's stock, valued at approximately C$14,424,215.94. This trade represents a 2.93% decrease in their position. Insiders have sold a total of 90,901 shares of company stock valued at $1,473,162 over the last 90 days. 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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