BlackBerry Limited (BBRY) has risen sharply, recording gains of 16.72% in the past 4 weeks. However, the stock has corrected -0.62% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 16.27% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
BlackBerry Limited is up 17.91% in the last 3-month period. Year-to-Date the stock performance stands at -13.47%. The stock has recorded a 20-day Moving Average of 3.58% and the 50-Day Moving Average is 12.14%.
BlackBerry Limited (NASDAQ:BBRY): The stock opened at $8.16 on Friday but the bulls could not build on the opening and the stock topped out at $8.16 for the day. The stock traded down to $7.99 during the day, due to lack of any buying support eventually closed down at $8.03 with a loss of -1.59% for the day. The stock had closed at $8.16 on the previous day. The total traded volume was 2,542,779 shares.
Also, Raymond James upgrades its view on BlackBerry Limited (NASDAQ:BBRY) according to the research report released by the firm to its investors. The shares have now been rated Outperform by the stock experts at the ratings house. Earlier, the shares had a rating of Market Perform. Raymond James raises the price target from $8 per share to $10.5 per share on BlackBerry Limited. The rating by the firm was issued on August 12, 2016.
BlackBerry Limited (BlackBerry) is a provider of mobile communications and services. The Company is engaged primarily in the provision of the BlackBerry wireless solution, consisting of smartphones, service and software. The Companys four areas of business are Devices business, Enterprise Services, BlackBerry Technology Solutions (BTS) business and Messaging. The Companys Devices business is focused on delivering smartphone products. BlackBerrys Enterprise Services business offers enterprise products and services. The Companys BTS business consists of five units: QNX Software Systems Limited (QNX), Certicom, Paratek, the BlackBerry Internet of Things (IoT) Platform, and Intellectual Property and Patent Licensing (IPPL). The Companys Messaging business is engaged in providing BlackBerry Messenger (BBM), the Companys instant mobile to mobile private messaging service. The Company offers a portfolio of smartphone products to both the enterprise and consumer markets.