BlackBerry (TSE:BB) Shares Up 19.9% – Here’s What Happened

BlackBerry Limited (TSE:BB) (NASDAQ:BBRY)’s share price was up 19.9% during trading on Thursday . The stock traded as high as C$15.16 and last traded at C$14.70. Approximately 6,745,398 shares were traded during trading, an increase of 83% from the average session volume of 3,682,519 shares. The stock had previously closed at C$12.26.

Analyst Ratings Changes

Separately, Stifel Nicolaus set a C$12.00 price objective on shares of BlackBerry and gave the stock a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, BlackBerry has a consensus rating of “Moderate Buy” and a consensus target price of C$12.00.

BlackBerry Price Performance

The company has a debt-to-equity ratio of 29.45, a current ratio of 2.20 and a quick ratio of 1.49. The company has a 50-day simple moving average of C$10.43 and a 200-day simple moving average of C$6.93. The stock has a market cap of C$9.45 billion, a PE ratio of 179.22, a PEG ratio of 0.06 and a beta of 1.19.

BlackBerry (TSE:BB) (NASDAQ:BBRY) last posted its quarterly earnings results on Thursday, June 25th. The company reported C$0.06 earnings per share for the quarter. The business had revenue of C$210.94 million for the quarter. BlackBerry had a net margin of 10.32% and a return on equity of 8.10%. Sell-side analysts anticipate that BlackBerry Limited will post 0.0551903 EPS for the current fiscal year.

BlackBerry Company Profile

BlackBerry, once known for being the world’s largest smartphone manufacturer, is now exclusively a software provider with a stated goal of end-to-end secure communication for enterprises. The firm provides endpoint management and protection to enterprises, specializing in regulated industries like government, as well as embedded software to the automotive, medical, and industrial markets.