BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) Issues Earnings Results

BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) issued its earnings results on Thursday. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.20, Briefing.com reports. During the same quarter last year, the business posted ($0.33) EPS. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year.

BlackRock Short-Term California Muni Bond ETF Stock Down 2.1%

NASDAQ CALY traded down $0.32 during trading on Thursday, hitting $14.74. The company’s stock had a trading volume of 5,559,343 shares, compared to its average volume of 3,178,995. BlackRock Short-Term California Muni Bond ETF has a 52 week low of $5.42 and a 52 week high of $16.65. The firm has a market cap of $2.71 billion, a P/E ratio of -1.80 and a beta of 0.96. The firm has a 50 day moving average price of $36.97 and a 200 day moving average price of $45.81.

Insider Buying and Selling at BlackRock Short-Term California Muni Bond ETF

In other news, major shareholder Pep Tg Investments Gp Llc sold 10,000,000 shares of the firm’s stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $14.70, for a total value of $147,000,000.00. Following the sale, the insider owned 11,175,226 shares in the company, valued at approximately $164,275,822.20. This trade represents a 47.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CALY. B. Riley Financial upgraded BlackRock Short-Term California Muni Bond ETF from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $11.00 to $19.00 in a report on Thursday, January 22nd. Truist Financial upped their target price on BlackRock Short-Term California Muni Bond ETF from $12.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday. Zacks Research lowered BlackRock Short-Term California Muni Bond ETF from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Finally, KeyCorp raised BlackRock Short-Term California Muni Bond ETF from a “sector weight” rating to an “overweight” rating and set a $17.00 price target for the company in a research note on Friday, January 16th.

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.