Shares of Research In Motion (RIMM) hit a new 52-week low on Tuesday. The stock traded as low as $19.00 during mid-day trading and last traded at $19.59. The stock previously closed at $20.20.
A number of equities research firms have also recently weighed in on the stock. Analysts at JPMorgan Chase & Co. (NYSE: JPM) reiterated a “neutral” rating on shares of Research In Motion in a research note to investors on Wednesday, October 19th. Analysts at Wunderlich cut their price target on shares of Research In Motion from $31.00 to $24.00 in a research note to investors on Friday, October 14th. They now have a “hold” rating on the stock. Also, analysts at Sterne Agee cut their price target on shares of Research In Motion from $35.00 to $31.00 in a research note to investors on Thursday, October 13rd. They now have a “buy” rating on the stock.
Research In Motion Limited (RIM) is a designer, manufacturer and marketer of wireless solutions for the worldwide mobile communications market. Through the development of integrated hardware, software and services that support multiple wireless network standards, RIM provides platforms and solutions for seamless access to time-sensitive information, including e-mail, phone, short message service (SMS), Internet and intranet-based applications. RIM’s portfolio of products, services and embedded technologies are used by organizations worldwide and include the BlackBerry wireless solution, the RIM Wireless Handheld product line, software development tools and other software and hardware. Its subsidiaries include Research In Motion Corporation, Research In Motion UK Limited and RIM Finance, LLC. On June 2, 2010, Harman International sold its software operating systems unit, QNX Software Systems, to the Company.
Research In Motion has a 52 week low of $20.14 and a 52 week high of $70.54. The stock’s 50-day moving average is $23.22 and its 200-day moving average is $31.94. The company has a market cap of $10.122 billion and a price-to-earnings ratio of 3.69.
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