BlackBerry Ltd (NASDAQ:BBRY) Surges 16.75% in Early Trade

Apr 13, 2017, 01:22
BlackBerry Ltd (NASDAQ:BBRY) Surges 16.75% in Early Trade

BlackBerry Limited (BBRY) stock price tumbled -0.13% to finalize at $7.70 throughout previous buying and selling session. Stock has got OUTPERFORM rating from 3 analysts of Thomson Reuters, 1 analyst given HOLD rating to the stock and 0 given UNDERPERFORM rating. BlackBerry has a 1-year low of $6.23 and a 1-year high of $8.46. Finally, Norges Bank bought a new position in BlackBerry during the fourth quarter worth approximately $24,556,000.

The difference of 52 week low value as well as 52 week high value and the current price of the stock suggests the next move of the shares. BlackBerry also saw some unusual options trading on Wednesday. The company has a 50-day moving average of $7.18 and a 200 day moving average of $7.33. The company's revenue was down 39.0% on a year-over-year basis. Presently, it has a Return on Equity (ROE) of -54.20% and Return on Investment (ROI) of -44.50%.

BlackBerry Limited (BBRY) stock price distance from twenty day simple moving average surged at 4.77% while its distance from fifty day simple moving average raised 7.09% along with 4.75% above distance from two hundred simple moving averages. Stock investors bought 779 put options on the company. Finally, First Trust Advisors LP raised its position in BlackBerry by 4.4% in the third quarter. In most recent quarter, LT Debt/Equity ratio was listed at 0.29 and Total Debt/Equity ratio was noted at 0.00. The company now has an average rating of "Hold" and a consensus price target of $8.37. Analysts predict that BlackBerry will post $0.03 EPS for the current year. Public Sector Pension Investment Board now owns 837,319 shares of the smartphone producer's stock worth $5,769,000 after buying an additional 34,100 shares in the last quarter. Revenue still declined 39% year over year, but at least this decline in revenue is lessening, so things are moving in the right direction. They now have a $12.50 price target on the smartphone producer's stock. Iridian Asset Management LLC CT now owns 20,935,089 shares of the smartphone producer's stock valued at $144,243,000 after buying an additional 6,525,809 shares during the period.

BlackBerry Limited (NASDAQ:BBRY)'s market cap, the total dollar value of all of their outstanding shares, is 4142.45m.

BlackBerry Limited (BBRY) has a market capitalization of 4.19 Billion.

BBRY has been the topic of a number of other reports.

Other equities research analysts have also recently issued research reports about the stock. The Company's services and products include Enterprise Solutions and Services, Devices, BlackBerry Technology Solutions and Messaging. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. It is engaged in providing enterprise mobility management (EMM) and mobile security, and offers a portfolio of enterprise software solutions and services that can be deployed across a range of ecosystems and devices, including BlackBerry Enterprise Service (BES) 12 and Good Platforms, BES12 Cloud, enterprise file-sync-and-share (EFSS), SecuSUITE for Enterprise, Enhanced subscriber identity module (SIM)-Based Licensing (ESBL), WorkLife by BlackBerry solution and Professional Cybersecurity Services.