BlackBerry (TSE:BB) Stock Price Down 3.7% – Here’s What Happened

BlackBerry Limited (TSE:BB) (NASDAQ:BBRY)’s stock price fell 3.7% during trading on Tuesday . The company 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 target price on shares of BlackBerry and gave the company 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 issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$12.00.

BlackBerry Stock Performance

The company has a market cap of C$6.95 billion, a P/E ratio of 118.50, a P/E/G ratio of 0.06 and a beta of 1.16. 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 has a fifty day simple moving average of C$13.50 and a two-hundred day simple moving average of C$8.38.

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

Insider Buying and Selling at BlackBerry

In other BlackBerry news, insider Tim Foote sold 16,597 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of C$17.21, for a total transaction 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 represents a 19.41% decrease in their ownership of the stock. Also, insider John Joseph Giamatteo sold 28,272 shares of the 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 completion of the transaction, the insider owned 937,246 shares in the company, valued at C$14,424,215.94. The trade was a 2.93% decrease in their ownership of the stock. In the last ninety days, insiders sold 90,901 shares of company stock worth $1,473,162. 1.70% of the stock is owned by corporate insiders.

About BlackBerry

BlackBerry (NYSE:BB)(TSX: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.