BlackBerry Ltd. (BBRY) Trading 2.6% Higher
BlackBerry Ltd. (NASDAQ:BBRY) traded up 2.6% during mid-day trading on Tuesday . The company traded as high as $7.56 and last traded at $7.54, with a volume of 2,179,765 shares trading hands. The stock had previously closed at $7.35.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of BlackBerry from a “hold” rating to a “buy” rating and set a $9.00 price objective for the company in a research report on Tuesday, August 23rd. JPMorgan Chase & Co. boosted their price objective on shares of BlackBerry from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Monday, August 29th. TD Securities reaffirmed a “buy” rating and issued a $9.00 target price on shares of BlackBerry in a report on Monday, August 29th. Wells Fargo & Co. reaffirmed a “positive” rating and issued a $7.62 target price on shares of BlackBerry in a report on Tuesday, August 30th. Finally, Raymond James Financial Inc. raised shares of BlackBerry from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $8.00 to $10.50 in a report on Friday, August 12th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $7.58.
The stock’s 50 day moving average is $7.78 and its 200 day moving average is $7.31. The firm’s market cap is $3.95 billion.
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Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new position in BlackBerry during the fourth quarter valued at approximately $41,371,000. Acadian Asset Management LLC purchased a new position in BlackBerry during the first quarter valued at approximately $7,679,000. Commonwealth Equity Services Inc boosted its position in BlackBerry by 19.5% in the first quarter. Commonwealth Equity Services Inc now owns 42,279 shares of the smartphone producer’s stock valued at $342,000 after buying an additional 6,889 shares during the period. Virginia Retirement System purchased a new position in BlackBerry during the first quarter valued at approximately $3,298,000. Finally, Exane Derivatives purchased a new position in BlackBerry during the first quarter valued at approximately $221,000. Institutional investors own 58.37% of the company’s stock.
BlackBerry Limited (BlackBerry) provides mobile communications solutions. The Company is engaged in the sale of smartphones and enterprise software and services. The Company’s products and services include Enterprise Solutions and Services, Devices, BlackBerry Technology Solutions and Messaging. It is engaged in providing enterprise mobility management (EMM) and mobile security, and offers a portfolio of enterprise software solutions and services that can be deployed across a range of ecosystems and devices, including BlackBerry Enterprise Service (BES) 12 and Good Platforms, BES12 Cloud, enterprise file-sync-and-share (EFSS), SecuSUITE for Enterprise, Enhanced subscriber identity module (SIM)-Based Licensing (ESBL), WorkLife by BlackBerry solution and Professional Cybersecurity Services.
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