RIMM Displays Notable Strength ; Breaks Through the $50 Level

Research in Motion (RIMM) has broken through the $50 level in midday trade, printing currently the tape at $50.36. The shares of the Blackberry maker have gained 2.73% so far into the session. Over the last month, RIMM has gained over 13%, but ticker still remains at depressed levels. The stock has a negative 52-week change of  nearly 29%. RIM is trading approx. 3.8% above its 50 day moving average of $48.37 and 17.2% lower than the 200 day moving average of $60.72. The ticker’s 52 week high is $76.95.

From a key ratio perspective it’s easy to find favorable trends occurring in the co.’s numbers. RIMM’s profit and operating margin currently stand at 17.20% and 25.18 %, respectively. Quarterly revenue growth, on a y/y basis, stands at more than 31% while quarterly earnings growth y/y prints at 67.50%. RIMM raked in nearly $17 billion in revs during its trailing twelve period with a gross profit of more than $6.4 billion. The stock currently trades at a trailing P/E of 9.66, a forward multiple of 8.07 and a price/earnings to growth ratio of 0.61.

At last check shares of RIM were trading at $50.23, a gain of $1.26 (+2.57%), on volume of 7.5 million shares trading hands.

About Ron Haruni 1036 Articles
Ron is the Co-Founder & Editor in Chief of Wall Street Pit. Web Site: Wall Street Pit

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