BlackBerry (TSE:BB) Shares Pass Above 200 Day Moving Average – Here’s What Happened

BlackBerry Limited (TSE:BB) (NASDAQ:BBRY) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$7.83 and traded as high as C$16.04. BlackBerry shares last traded at C$15.47, with a volume of 5,233,956 shares traded.

Analysts Set New Price Targets

Separately, Stifel Nicolaus set a C$12.00 target price on shares of BlackBerry and gave the company a “buy” rating in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, BlackBerry currently has a consensus rating of “Moderate Buy” and a consensus target price of C$12.00.

BlackBerry Stock Up 2.0%

The firm has a market cap of C$9.07 billion, a PE ratio of 154.70, a price-to-earnings-growth ratio of 0.06 and a beta of 1.16. The company has a 50-day simple moving average of C$12.63 and a 200-day simple moving average of C$7.83. The company has a debt-to-equity ratio of 29.45, a current ratio of 2.20 and a quick ratio of 1.49.

BlackBerry (TSE:BB) (NASDAQ:BBRY) last issued its quarterly earnings results on Thursday, June 25th. The company reported C$0.06 earnings per share for the quarter. BlackBerry had a return on equity of 8.10% and a net margin of 10.32%.The firm had revenue of C$210.94 million for the quarter. Analysts expect that BlackBerry Limited will post 0.0551903 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Philip Simon Kurtz sold 4,195 shares of BlackBerry stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of C$16.39, for a total transaction of C$68,756.05. Following the completion of the sale, the insider directly owned 120,664 shares in the company, valued at approximately C$1,977,682.96. This trade represents a 3.36% decrease in their ownership of the stock. Also, insider Jennifer Mary Armstrong-Owen sold 2,556 shares of the business’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of C$15.39, for a total transaction of C$39,336.84. Following the sale, the insider directly owned 101,751 shares of the company’s stock, valued at C$1,565,947.89. This represents a 2.45% decrease in their ownership of the stock. Over the last quarter, insiders sold 60,901 shares of company stock worth $995,562. Insiders own 1.70% of the company’s stock.

About BlackBerry

BlackBerry (NYSE:BB)(TSX:BB) provides enterprises and governments the intelligent software and services that power the world around us. Based in Waterloo, Ontario, the company’s high-performance foundational software enables major automakers and industrial giants alike to unlock transformative applications, drive new revenue streams and launch innovative business models, all without sacrificing safety, security, and reliability. With a deep heritage in Secure Communications, BlackBerry delivers operational resiliency with a comprehensive, highly secure, and extensively certified portfolio for mobile fortification, mission-critical communications, and critical events management.