BlackBerry (NYSE:BB) Share Price Crosses Above 50-Day Moving Average – Time to Sell?

BlackBerry Limited (NYSE:BB) crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $8.45 and traded as high as $8.77. BlackBerry shares last traded at $8.7610, with a volume of 19,187,990 shares trading hands.

Wall Street Analyst Weigh In

BB has been the topic of several research analyst reports. Royal Bank Of Canada reissued a “sector perform” rating and set a $9.00 target price on shares of BlackBerry in a research note on Monday, September 21st. Weiss Ratings upgraded shares of BlackBerry from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, September 25th. Wall Street Zen raised shares of BlackBerry from a “hold” rating to a “buy” rating in a research note on Saturday, August 29th. Canaccord Genuity Group decreased their price objective on shares of BlackBerry from $10.30 to $9.50 and set a “hold” rating for the company in a report on Friday, September 25th. Finally, Zacks Research cut shares of BlackBerry from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Two equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $9.86.

BlackBerry Trading Up 7.0%

The business has a fifty day moving average of $8.45 and a 200-day moving average of $6.91. The stock has a market capitalization of $5.13 billion, a price-to-earnings ratio of 73.01 and a beta of 2.23. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.38 and a quick ratio of 2.38.

BlackBerry (NYSE:BB) last posted its quarterly earnings data on Thursday, September 24th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.03. BlackBerry had a net margin of 13.09% and a return on equity of 13.71%. The company had revenue of $166.56 million during the quarter, compared to analyst estimates of $144.22 million. During the same quarter last year, the firm posted $0.04 EPS. The business’s revenue for the quarter was up 26.0% on a year-over-year basis. BlackBerry has set its FY 2027 guidance at 0.190-0.220 EPS and its Q3 2027 guidance at 0.040-0.050 EPS. On average, equities analysts anticipate that BlackBerry Limited will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling at BlackBerry

In other BlackBerry news, insider John Christopher Wall sold 3,474 shares of BlackBerry stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $9.18, for a total value of $31,891.32. Following the transaction, the insider owned 13,924 shares in the company, valued at approximately $127,822.32. The trade was a 19.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO John Giamatteo sold 99,000 shares of BlackBerry stock in a transaction that occurred on Thursday, October 22nd. The stock was sold at an average price of $8.74, for a total transaction of $865,260.00. Following the completion of the transaction, the chief executive officer owned 542,494 shares in the company, valued at approximately $4,741,397.56. This trade represents a 15.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 384,433 shares of company stock valued at $3,481,255. Corporate insiders own 0.51% of the company’s stock.

Institutional Investors Weigh In On BlackBerry

Institutional investors and hedge funds have recently modified their holdings of the stock. M&G PLC boosted its stake in shares of BlackBerry by 10.8% during the 3rd quarter. M&G PLC now owns 1,608,963 shares of the company’s stock worth $14,481,000 after acquiring an additional 157,424 shares in the last quarter. Palacios Wealth Management LLC acquired a new stake in shares of BlackBerry during the third quarter worth $109,000. 180 Wealth Advisors LLC acquired a new stake in shares of BlackBerry during the third quarter worth $98,000. Commonwealth Equity Services LLC acquired a new stake in shares of BlackBerry during the third quarter worth $330,000. Finally, Ascent Group LLC purchased a new stake in shares of BlackBerry during the third quarter valued at $119,000. Institutional investors and hedge funds own 54.48% of the company’s stock.

BlackBerry Company Profile

BlackBerry Limited (NYSE:BB) is a Canadian software company headquartered in Waterloo, Ontario. Once best known for its BlackBerry smartphones and secure mobile messaging, the company has transitioned away from manufacturing smartphones and now focuses on cybersecurity and Internet of Things (IoT) software.

BlackBerry’s cybersecurity business provides endpoint security, unified endpoint management, secure communications and other tools designed to protect devices, applications and data.