BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) Director Erik Anderson Sells 10,000 Shares

BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) Director Erik Anderson sold 10,000 shares of the firm’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $13.82, for a total value of $138,200.00. Following the completion of the sale, the director owned 680,459 shares of the company’s stock, valued at approximately $9,403,943.38. This represents a 1.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

BlackRock Short-Term California Muni Bond ETF Stock Up 1.5%

NASDAQ:CALY traded up $0.21 on Thursday, hitting $14.00. The stock had a trading volume of 1,467,388 shares, compared to its average volume of 3,386,989. BlackRock Short-Term California Muni Bond ETF has a 52 week low of $5.42 and a 52 week high of $16.65. The business’s fifty day moving average is $29.61 and its 200 day moving average is $43.24. The company has a market cap of $2.57 billion, a PE ratio of -43.75 and a beta of 0.96.

BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) last issued its earnings results on Thursday, February 12th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.20. The firm had revenue of $367.50 million during the quarter, compared to the consensus estimate of $785.31 million. BlackRock Short-Term California Muni Bond ETF’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.33) earnings per share.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CALY shares. Truist Financial lifted their price target on BlackRock Short-Term California Muni Bond ETF from $12.00 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. B. Riley Financial raised BlackRock Short-Term California Muni Bond ETF from a “neutral” rating to a “buy” rating and lifted their target price for the company from $11.00 to $19.00 in a research report on Thursday, January 22nd. 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 report on Friday, January 16th. Zacks Research raised shares of BlackRock Short-Term California Muni Bond ETF from a “hold” rating to a “strong-buy” rating in a report on Monday, February 16th. Finally, JPMorgan Chase & Co. lowered their target price on shares of BlackRock Short-Term California Muni Bond ETF from $16.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday, February 18th.

About BlackRock Short-Term California Muni Bond ETF

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.