BlackBerry (TSE:BB) Stock Price Passes Above 200-Day Moving Average - Here's What Happened

Key Points

• BlackBerry shares moved above their 200-day moving average of C$9.39, reaching C$12.23 before last trading at C$11.35 on heavy volume.
• Analyst sentiment is moderately positive: Stifel Nicolaus assigned a “buy” rating and C$12.00 price target, while overall coverage consists of one Buy and one Hold rating.
• BlackBerry reported quarterly EPS of C$0.06 on revenue of C$210.94 million, while insiders sold 90,901 shares worth about C$1.47 million over the past 90 days.

BlackBerry Limited (TSE:BB - Get Free Report) NASDAQ: BBRY's share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$9.39 and traded as high as C$12.23. BlackBerry shares last traded at C$11.35, with a volume of 2,654,320 shares changing hands.

Analyst Upgrades and Downgrades

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

BlackBerry Stock Down 5.2%

The company has a market cap of C$6.65 billion, a P/E ratio of 113.50, a P/E/G ratio of 0.06 and a beta of 1.17. 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's 50-day moving average is C$13.23 and its two-hundred day moving average is C$9.39.

BlackBerry (TSE:BB - Get Free Report) NASDAQ: BBRY last announced its quarterly earnings results on Thursday, June 25th. The company reported C$0.06 earnings per share (EPS) for the quarter. The firm 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%. As a group, equities analysts predict that BlackBerry Limited will post 0.0551903 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Tim Foote sold 3,066 shares of BlackBerry stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of C$15.39, for a total transaction of C$47,185.74. Following the sale, the insider owned 85,493 shares in the company, valued at C$1,315,737.27. This trade represents a 3.46% decrease in their ownership of the stock. Also, 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 transaction of C$477,600.00. Following the sale, the insider owned 95,158 shares in the company, valued at approximately C$1,514,915.36. The trade was a 23.97% decrease in their position. Insiders have sold 90,901 shares of company stock valued at $1,473,162 over the last 90 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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