Investors Purchase Large Volume of Call Options on BlackBerry (BBRY)
BlackBerry (NASDAQ:BBRY) was the target of unusually large options trading on Monday. Stock investors purchased 109,393 call options on the company, Analyst Ratings Net reports. This is an increase of approximately 142% compared to the average daily volume of 45,167 call options.
A number of analysts have recently weighed in on BBRY shares. Analysts at Macquarie reiterated an “underperform” rating on shares of BlackBerry in a research note on Wednesday, June 25th. They now have a $7.25 price target on the stock, up previously from $7.07. Separately, analysts at Citigroup Inc. raised their price target on shares of BlackBerry from $6.00 to $10.00 in a research note on Monday, June 23rd. They now have an “equal weight” rating on the stock. Finally, analysts at Evercore Partners upgraded shares of BlackBerry from an “underweight” rating to an “equal weight” rating in a research note on Monday, June 23rd. They now have a $10.00 price target on the stock, up previously from $6.00. Eight investment analysts have rated the stock with a sell rating, twenty have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $9.12.
Shares of BlackBerry (NASDAQ:BBRY) traded up 5.66% during mid-day trading on Monday, hitting $11.21. The stock had a trading volume of 38,089,968 shares. BlackBerry has a 1-year low of $5.44 and a 1-year high of $12.18. The stock’s 50-day moving average is $8.37 and its 200-day moving average is $8.52. The company’s market cap is $5.822 billion.
BlackBerry (NASDAQ:BBRY) last announced its earnings results on Thursday, June 19th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by $0.74. The company had revenue of $966.00 million for the quarter, compared to the consensus estimate of $976.25 million. During the same quarter in the previous year, the company posted ($0.13) earnings per share. The company’s revenue for the quarter was down 68.5% on a year-over-year basis. On average, analysts predict that BlackBerry will post $-0.62 earnings per share for the current fiscal year.
BlackBerry Limited, formerly Research In Motion Limited is a designer, manufacturer and marketer of wireless solutions for the worldwide mobile communications market.
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