Stock Traders Purchase High Volume of Call Options on BlackBerry (BBRY)
BlackBerry (NASDAQ:BBRY) saw unusually large options trading activity on Tuesday. Investors acquired 115,501 call options on the company, AnalystRatingsNetwork.com reports. This represents an increase of 107% compared to the average daily volume of 55,714 call options.
BBRY has been the subject of a number of recent research reports. Analysts at TD Securities cut their price target on shares of BlackBerry (NASDAQ:BBRY) to $9.00 in a research note to investors on Tuesday. Separately, analysts at Cormark downgraded shares of BlackBerry (NASDAQ:BBRY) to a “market perform” rating in a research note to investors on Tuesday. Finally, analysts at National Bank Financial upgraded shares of BlackBerry (NASDAQ:BBRY) from an “underperform” rating to a “sector perform” rating in a research note to investors on Tuesday. They now have a $9.00 price target on the stock, up previously from $5.00.
Sixteen research analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $9.28.
BlackBerry (NASDAQ:BBRY) traded down 3.29% on Tuesday, hitting $8.53. The stock had a trading volume of 43,967,400 shares. BlackBerry has a 1-year low of $6.25 and a 1-year high of $18.32. The stock’s 50-day moving average is $10.28 and its 200-day moving average is $12.54. The company’s market cap is $4.397 billion.
BlackBerry (NASDAQ:BBRY) last posted its quarterly earnings results on Friday, June 28th. The company reported ($0.13) earnings per share for the quarter, missing the analysts’ 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. BlackBerry’s revenue was up 9.4% compared to the same quarter last year. Analysts expect that BlackBerry will post $-0.68 EPS 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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