Truist Financial Issues Positive Forecast for BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) Stock Price

BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) had its target price raised by investment analysts at Truist Financial from $12.00 to $17.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target indicates a potential upside of 13.71% from the company’s previous close.

A number of other research analysts also recently weighed in on the stock. KeyCorp raised shares of BlackRock Short-Term California Muni Bond ETF from a “sector weight” rating to an “overweight” rating and set a $17.00 target price for the company in a research report on Friday, January 16th. Zacks Research downgraded BlackRock Short-Term California Muni Bond ETF from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Finally, B. Riley Financial upgraded BlackRock Short-Term California Muni Bond ETF from a “neutral” rating to a “buy” rating and boosted their target price for the company from $11.00 to $19.00 in a research note on Thursday, January 22nd.

BlackRock Short-Term California Muni Bond ETF Stock Performance

Shares of NASDAQ:CALY opened at $14.95 on Tuesday. The company has a market capitalization of $2.75 billion, a P/E ratio of -1.83 and a beta of 0.96. The company’s 50-day moving average is $38.40 and its 200 day moving average is $46.28. BlackRock Short-Term California Muni Bond ETF has a fifty-two week low of $5.42 and a fifty-two week high of $16.65.

Insider Buying and Selling

In other news, major shareholder Pep Tg Investments Gp Llc sold 10,000,000 shares of the business’s stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $14.70, for a total transaction of $147,000,000.00. Following the completion of the transaction, the insider directly owned 11,175,226 shares in the company, valued at $164,275,822.20. The trade was a 47.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.49% of the stock is currently owned by insiders.

BlackRock Short-Term California Muni Bond ETF Company Profile

The BlackRock Short-Term California Muni Bond ETF (CALY) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed fund that primarily invests in municipal securities exempt from federal income taxes. It will hold short-term, investment grade Muni bonds issued in California while aiming for an effective portfolio duration equal to or less than 1.5 years. CALY was launched on Jul 11, 2023 and is issued by BlackRock.