Traders Buy Large Volume of Put Options on BlackBerry (BBRY)
Shares of BlackBerry (NASDAQ:BBRY) saw some unusual options trading on Wednesday. Stock traders bought 67,284 put options on the company, AR Network reports. This represents an increase of 139% compared to the typical volume of 28,165 put options.
A number of analysts have recently weighed in on BBRY shares. Analysts at Oppenheimer downgraded shares of BlackBerry from a “market perform” rating to an “underperform” rating in a research note to investors on Monday, January 13th. Separately, analysts at RBC Capital upgraded shares of BlackBerry from an “underperform” rating to a “sector perform” rating in a research note to investors on Friday, January 10th. They now have a $10.00 price target on the stock, up previously from $6.00. Finally, analysts at Wells Fargo & Co. reiterated a “market perform” rating on shares of BlackBerry in a research note to investors on Thursday, January 9th. They now have a $9.00 price target on the stock. Fourteen research analysts have rated the stock with a sell rating, twenty-three have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. BlackBerry has a consensus rating of “Hold” and a consensus target price of $7.79.
BlackBerry (NASDAQ:BBRY) traded up 8.56% during mid-day trading on Wednesday, hitting $10.78. 81,844,736 shares of the company’s stock traded hands. BlackBerry has a 1-year low of $5.44 and a 1-year high of $18.32. The stock has a 50-day moving average of $7.29 and a 200-day moving average of $8.35. The company’s market cap is $5.588 billion.
BlackBerry (NASDAQ:BBRY) last posted its quarterly earnings results on Friday, December 20th. The company reported ($0.67) earnings per share for the quarter, missing the analysts’ 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 revenue for the quarter was down 56.3% on a year-over-year basis. On average, analysts predict that BlackBerry will post $-1.82 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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