BlackBerry Ltd. (NASDAQ:BBRY) shot up 2.9% on Monday . The company traded as high as $7.85 and last traded at $7.82, with a volume of 3,139,440 shares trading hands. The stock had previously closed at $7.60.

A number of research firms have recently weighed in on BBRY. MKM Partners reiterated a “hold” rating on shares of BlackBerry in a research report on Sunday, June 26th. Wells Fargo & Co. reiterated a “market perform” rating and issued a $7.62 price target on shares of BlackBerry in a research report on Monday, June 13th. Zacks Investment Research downgraded shares of BlackBerry from a “buy” rating to a “hold” rating in a research report on Monday, June 6th. Deutsche Bank AG reiterated a “hold” rating on shares of BlackBerry in a research report on Monday, June 27th. Finally, Imperial Capital reiterated an “in-line” rating and issued a $7.00 price target on shares of BlackBerry in a research report on Tuesday, June 28th. Four analysts have rated the stock with a sell rating, twenty have issued a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $7.37.

The stock’s market capitalization is $4.14 billion. The company’s 50 day moving average is $6.87 and its 200-day moving average is $7.14.

An institutional investor recently raised its position in BlackBerry stock. Marshall Wace LLP boosted its position in shares of BlackBerry Ltd. (NASDAQ:BBRY) by 145.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 267,935 shares of the smartphone producer’s stock after buying an additional 158,805 shares during the period. Marshall Wace LLP owned about 0.05% of BlackBerry worth $2,486,000 as of its most recent SEC filing.

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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