BlackBerry Sees Unusually High Options Volume (BBRY)
BlackBerry (NASDAQ:BBRY) saw some unusual options trading activity on Monday. Stock investors acquired 259,226 put options on the company, AR Network reports. This represents an increase of approximately 582% compared to the typical daily volume of 38,021 put options.
Several analysts have recently commented on the stock. Analysts at Citigroup Inc. cut their price target on shares of BlackBerry (NASDAQ:BBRY) to $7.00 in a research note to investors on Monday. They now have a “hold” rating on the stock. Separately, analysts at Paradigm Capital downgraded shares of BlackBerry (NASDAQ:BBRY) from a “buy” rating to a “hold” rating in a research note to investors on Monday. They now have a $10.50 price target on the stock, down previously from $15.00. Finally, analysts at Raymond James reiterated a “market perform” rating on shares of BlackBerry (NASDAQ:BBRY) in a research note to investors on Monday.
Nineteen investment analysts have rated the stock with a sell rating, twenty-three have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $9.33.
Shares of BlackBerry (NASDAQ:BBRY) traded up 1.09% during mid-day trading on Monday, hitting $8.82. The stock had a trading volume of 110,684,784 shares. BlackBerry has a one year low of $6.22 and a one year high of $18.32. The stock has a 50-day moving average of $10.29 and a 200-day moving average of $12.58. The company’s market cap is $4.546 billion.
BlackBerry (NASDAQ:BBRY) last posted its quarterly earnings results on Friday, June 28th. The company reported ($0.13) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.04 by $0.17. The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $2.81 billion. The company’s quarterly revenue was up 9.4% on a year-over-year basis. On average, analysts predict that BlackBerry will post $-0.68 earnings per share for the current fiscal year.
Research In Motion Limited is a designer, manufacturer, and marketer of wireless solutions for the worldwide mobile communications market.
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