BlackBerry (TSE:BB) Shares Cross Above 200-Day Moving Average – What’s Next?

BlackBerry Limited (TSE:BB) (NASDAQ:BBRY)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$8.86 and traded as high as C$12.80. BlackBerry shares last traded at C$12.26, with a volume of 3,207,104 shares traded.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus set a C$12.00 target price on shares of BlackBerry and gave the stock 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 company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$12.00.

BlackBerry Price Performance

The stock’s 50-day simple moving average is C$13.49 and its 200 day simple moving average is C$8.91. The company has a quick ratio of 1.49, a current ratio of 2.20 and a debt-to-equity ratio of 29.45. The company has a market cap of C$7.23 billion, a price-to-earnings ratio of 123.40, a PEG ratio of 0.06 and a beta of 1.17.

BlackBerry (TSE:BB) (NASDAQ:BBRY) last announced its earnings results on Thursday, June 25th. The company reported C$0.06 earnings per share for the quarter. The company had revenue of C$210.94 million during the quarter. BlackBerry had a net margin of 10.32% and a return on equity of 8.10%. On average, equities research analysts anticipate that BlackBerry Limited will post 0.0551903 EPS for the current fiscal year.

Insider Activity at BlackBerry

In related news, insider John Joseph Giamatteo sold 28,272 shares of the stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of C$15.39, for a total transaction of C$435,106.08. Following the completion of the transaction, the insider owned 937,246 shares of the company’s stock, valued at approximately C$14,424,215.94. This trade represents a 2.93% decrease in their position. Also, insider Jennifer Mary Armstrong-Owen sold 2,556 shares of BlackBerry stock in a transaction that occurred 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 completion of the sale, the insider owned 101,751 shares of the company’s stock, valued at C$1,565,947.89. This trade represents a 2.45% decrease in their position. Over the last 90 days, insiders sold 90,901 shares of company stock worth $1,473,162. Company 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.