BlackBerry Ltd. (BBRY) Trading Up 2.8%
BlackBerry Ltd. (NASDAQ:BBRY) was up 2.8% during mid-day trading on Monday . The stock traded as high as $7.07 and last traded at $7.07, with a volume of 2,930,357 shares. The stock had previously closed at $6.88.
Several equities research analysts have issued reports on BBRY shares. TD Securities restated a “buy” rating and set a $9.00 price objective on shares of BlackBerry in a report on Thursday, March 31st. Vetr upgraded BlackBerry from a “buy” rating to a “strong-buy” rating and set a $8.00 price objective on the stock in a report on Monday, May 2nd. Zacks Investment Research upgraded BlackBerry from a “hold” rating to a “buy” rating and set a $7.50 target price for the company in a research report on Tuesday, July 19th. Royal Bank Of Canada initiated coverage on BlackBerry in a research report on Monday, April 4th. They issued a “sector perform” rating and a $8.00 target price for the company. Finally, Deutsche Bank AG decreased their target price on BlackBerry from $7.00 to $6.50 and set a “hold” rating for the company in a research report on Monday, April 4th. Four research analysts have rated the stock with a sell rating, twenty have given a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $7.37.
The stock has a 50 day moving average price of $6.84 and a 200 day moving average price of $7.17. The company’s market cap is $3.70 billion.
Other hedge funds and institutional investors have added to or reduced their stakes in the company. Quantitative Investment Management LLC acquired a new position in BlackBerry during the fourth quarter valued at approximately $1,571,000. Marshall Wace LLP increased its position in BlackBerry by 145.5% in the fourth quarter. Marshall Wace LLP now owns 267,935 shares of the smartphone producer’s stock valued at $2,486,000 after buying an additional 158,805 shares during the period. State of Wisconsin Investment Board increased its position in BlackBerry by 67.6% in the fourth quarter. State of Wisconsin Investment Board now owns 432,358 shares of the smartphone producer’s stock valued at $3,996,000 after buying an additional 174,400 shares during the period. Finally, Sabal Capital Management LLC acquired a new position in BlackBerry during the fourth quarter valued at approximately $5,081,000.
BlackBerry Limited (BlackBerry) provides mobile communications solutions. The Company is engaged in the sale of smartphones and enterprise software and services. The Company’s products and services include Enterprise Solutions and Services, Devices, BlackBerry Technology Solutions and Messaging. 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.
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