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BlackBerry (NASDAQ:BBRY) was downgraded by analysts at Hudson Square Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday, reports. They currently have a $5.00 target price on the stock. Hudson Square Research’s price target would indicate a potential downside of 30.75% from the stock’s previous close.

The analysts wrote, “On Friday 12/20 Blackberry reported significantly worse than expected results, while the shares rose on positive response for plans to focus more on enterprise and offload consumer/emerging market hardware design to new manufacturing partner Foxconn. However, with service revenues (down 36% Y/Y) accounting for the majority of profit potential, and with an uncertain path for converting enterprise customers to a material per user recurring fee, and with continued cash burn, we are less convinced, and return our rating to Sell from Hold.”

BlackBerry (NASDAQ:BBRY) traded down 0.28% on Monday, hitting $7.20. The stock had a trading volume of 6,268,512 shares. BlackBerry has a 52-week low of $5.44 and a 52-week high of $18.32. The stock’s 50-day moving average is $6.31 and its 200-day moving average is $9.17. The company’s market cap is $3.789 billion. BlackBerry also was the recipient of some unusual options trading activity on Friday. Investors acquired 143,326 put options on the stock. This represents an increase of approximately 263% compared to the average volume of 39,534 put options.

BlackBerry (NASDAQ:BBRY) last released its earnings data on Friday, December 20th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by $0.24. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.59 billion. The company’s quarterly revenue was down 56.3% on a year-over-year basis. On average, analysts predict that BlackBerry will post $-1.47 earnings per share for the current fiscal year.

A number of other firms have also recently commented on BBRY. Analysts at Evercore Partners raised their price target on shares of BlackBerry to $7.00 in a research note to investors on Friday. Separately, analysts at MKM Partners raised their price target on shares of BlackBerry from $6.00 to $6.75 in a research note to investors on Friday. They now have a “neutral” rating on the stock. Finally, analysts at JPMorgan Chase & Co. initiated coverage on shares of BlackBerry in a research note to investors on Thursday. They set a “neutral” rating on the stock. Fourteen research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $7.46.

Research In Motion Limited is a designer, manufacturer, and marketer of wireless solutions for the worldwide mobile communications market.

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