BlackBerry (TSE:BB) Stock Jumps 6.3% – Here’s Why

Shares of BlackBerry Limited (TSE:BB) (NASDAQ:BBRY) shot up 6.3% on Monday. The company traded as high as C$12.33 and last traded at C$12.30. 4,212,824 shares were traded during trading, an increase of 10% from the average session volume of 3,825,112 shares. The stock had previously closed at C$11.57.

Wall Street Analyst Weigh In

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

BlackBerry Stock Performance

The firm has a fifty day simple moving average of C$11.57 and a 200-day simple moving average of C$10.43. The company has a current ratio of 2.38, a quick ratio of 1.49 and a debt-to-equity ratio of 27.92. The stock has a market cap of C$7.24 billion, a price-to-earnings ratio of 94.92, a P/E/G ratio of 0.06 and a beta of 1.31.

BlackBerry (TSE:BB) (NASDAQ:BBRY) last released its earnings results on Thursday, September 24th. The company reported C$0.10 EPS for the quarter. The company had revenue of C$219.02 million during the quarter. BlackBerry had a return on equity of 10.66% and a net margin of 13.11%. Analysts forecast that BlackBerry Limited will post 0.0551903 EPS for the current fiscal year.

Insider Transactions at BlackBerry

In other BlackBerry news, insider Jennifer Mary Armstrong-Owen sold 2,556 shares of the business’s stock in a transaction dated Thursday, July 2nd. The stock was 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 directly owned 101,751 shares of the company’s stock, valued at approximately C$1,565,947.89. The trade was a 2.45% decrease in their position. Also, insider Tim Foote sold 16,597 shares of the business’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of C$17.21, for a total value of C$285,634.37. Following the sale, the insider directly 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. Insiders have sold 90,901 shares of company stock worth $1,473,162 in the last ninety days. 1.70% of the stock is currently owned by insiders.

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.