BlackBerry (TSE:BB) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

BlackBerry Limited (TSE:BB) (NASDAQ:BBRY)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$9.39 and traded as high as C$12.23. BlackBerry shares last traded at C$11.35, with a volume of 2,654,320 shares changing hands.

Analysts Set New Price Targets

Separately, Stifel Nicolaus set a C$12.00 price objective on BlackBerry and gave the stock a “buy” rating in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, BlackBerry presently has an average rating of “Moderate Buy” and a consensus target price of C$12.00.

BlackBerry Price Performance

The company has a market capitalization of C$6.65 billion, a PE ratio of 113.50, a PEG ratio of 0.06 and a beta of 1.17. The company has a current ratio of 2.20, a quick ratio of 1.49 and a debt-to-equity ratio of 29.45. The company’s 50 day moving average price is C$13.23 and its 200-day moving average price is C$9.39.

BlackBerry (TSE:BB) (NASDAQ:BBRY) last released its quarterly earnings data 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 business had revenue of C$210.94 million for the quarter. On average, sell-side analysts forecast that BlackBerry Limited will post 0.0551903 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Philip Simon Kurtz sold 30,000 shares of the firm’s stock in a transaction on Tuesday, July 14th. The shares were sold at an average price of C$15.92, for a total transaction of C$477,600.00. Following the completion of the sale, the insider directly owned 95,158 shares of the company’s stock, valued at approximately C$1,514,915.36. This trade represents a 23.97% decrease in their position. Also, insider Tim Foote sold 16,597 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of C$17.21, for a total value of C$285,634.37. Following the sale, the insider owned 68,896 shares of the company’s stock, valued at C$1,185,700.16. This represents a 19.41% decrease in their ownership of the stock. In the last ninety days, insiders have 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.