BlackBerry Target of Unusually High Options Trading (BBRY)
Shares of BlackBerry (NASDAQ:BBRY) saw unusually large options trading activity on Wednesday. Traders acquired 116,108 put options on the stock, AnalystRatings.Net reports. This represents an increase of 145% compared to the average daily volume of 47,486 put options.
BBRY has been the subject of a number of recent research reports. Analysts at Sanford C. Bernstein reiterated an “underperform” rating on shares of BlackBerry (NASDAQ:BBRY) in a research note to investors on Wednesday. Separately, 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. Finally, analysts at Cormark downgraded shares of BlackBerry (NASDAQ:BBRY) to a “market perform” rating in a research note to investors on Tuesday.
Sixteen equities research analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $9.26.
BlackBerry (NASDAQ:BBRY) traded down 6.15% on Wednesday, hitting $8.005. 45,717,680 shares of the company’s stock traded hands. BlackBerry has a 1-year low of $6.75 and a 1-year high of $18.32. The stock’s 50-day moving average is $10.21 and its 200-day moving average is $12.47. The company’s market cap is $4.126 billion.
BlackBerry (NASDAQ:BBRY) last released its earnings data 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. On average, analysts predict that BlackBerry will post $-1.07 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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