BlackBerry (TSE:BB) Shares Cross Above 200 Day Moving Average – Here’s Why

BlackBerry Limited (TSE:BB) (NASDAQ:BBRY)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$9.15 and traded as high as C$11.54. BlackBerry shares last traded at C$11.28, with a volume of 1,758,085 shares trading hands.

Analyst Ratings Changes

Separately, Stifel Nicolaus set a C$12.00 target price 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 stock. Based on data from MarketBeat, BlackBerry 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$6.50 billion, a P/E ratio of 110.90, a price-to-earnings-growth ratio of 0.06 and a beta of 1.17. The stock has a 50 day moving average price of C$13.37 and a two-hundred day moving average price of C$9.16. The company has a quick ratio of 1.49, a current ratio of 2.20 and a debt-to-equity ratio of 29.45.

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. The business had revenue of C$210.94 million during the quarter. BlackBerry had a return on equity of 8.10% and a net margin of 10.32%. On average, research analysts predict that BlackBerry Limited will post 0.0551903 earnings per share for the current fiscal year.

Insider Buying and Selling at BlackBerry

In other BlackBerry news, insider Jennifer Mary Armstrong-Owen sold 2,556 shares of the business’s stock in a transaction dated 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 sale, the insider owned 101,751 shares of the company’s stock, valued at C$1,565,947.89. The trade was a 2.45% decrease in their position. Also, insider John Joseph Giamatteo sold 28,272 shares of the business’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of C$15.39, for a total transaction of C$435,106.08. Following the completion of the sale, the insider directly owned 937,246 shares of the company’s stock, valued at C$14,424,215.94. This represents a 2.93% decrease in their position. Over the last ninety days, insiders have sold 90,901 shares of company stock valued at $1,473,162. 1.70% of the stock is currently owned by 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.