BlackBerry (TSE:BB) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of BlackBerry Limited (TSE:BB) (NASDAQ:BBRY) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$4.87 and traded as high as C$6.23. BlackBerry shares last traded at C$5.91, with a volume of 1,971,180 shares trading hands.

Wall Street Analysts Forecast Growth

BB has been the topic of a number of analyst reports. TD Securities raised shares of BlackBerry from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 20th. Canaccord Genuity Group upped their target price on BlackBerry from C$3.00 to C$4.75 and gave the stock a “hold” rating in a research report on Tuesday, March 11th.

BlackBerry Trading Down 5.0 %

The firm has a fifty day moving average price of C$6.75 and a 200-day moving average price of C$4.87. The company has a market capitalization of C$2.45 billion, a P/E ratio of -19.04, a price-to-earnings-growth ratio of 0.06 and a beta of 1.07. The company has a debt-to-equity ratio of 30.90, a current ratio of 1.37 and a quick ratio of 1.49.

Insider Buying and Selling

In other BlackBerry news, Senior Officer Marjorie Jill Dickman sold 5,558 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of C$5.26, for a total value of C$29,248.42. 1.70% of the stock is owned by insiders.

About BlackBerry

BlackBerry Limited provides intelligent security software and services to enterprises and governments worldwide. The company operates through three segments: Cybersecurity, IoT, and Licensing and Other. The company offers CylanceENDPOINT, an integrated endpoint security solution; CylanceGUARD, a managed detection and response solution; CylanceEDGE, an AI-powered continuous authentication zero trust network access solution; CylanceINTELLIGENCE, a contextual cyber threat intelligence service; BlackBerry Dynamics offers a development platform and secure container for mobile applications; BlackBerry Workspaces a secure Enterprise File Sync and Share (EFSS) solution; BlackBerry Messenger (BBM) Enterprise, an enterprise-grade secure instant messaging solution for messaging, voice and video; BlackBerry SecuSUITE is a certified, multi-OS voice and text messaging solution; BlackBerry AtHoc, a secure networked critical event management solution; and BlackBerry unified endpoint management (UEM) solutions.