BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) Price Target Lowered to $15.00 at JPMorgan Chase & Co.

BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) had its price target decreased by JPMorgan Chase & Co. from $16.00 to $15.00 in a research note issued to investors on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other brokerages have also commented on CALY. Zacks Research upgraded shares of BlackRock Short-Term California Muni Bond ETF from a “hold” rating to a “strong-buy” rating in a report on Monday. KeyCorp raised BlackRock Short-Term California Muni Bond ETF from a “sector weight” rating to an “overweight” rating and set a $17.00 target price on the stock in a research report on Friday, January 16th. B. Riley Financial upgraded BlackRock Short-Term California Muni Bond ETF from a “neutral” rating to a “buy” rating and raised their price target for the stock from $11.00 to $19.00 in a research report on Thursday, January 22nd. Finally, Truist Financial boosted their price objective on BlackRock Short-Term California Muni Bond ETF from $12.00 to $17.00 and gave the company a “buy” rating in a report on Tuesday, February 10th.

BlackRock Short-Term California Muni Bond ETF Trading Up 0.5%

NASDAQ CALY opened at $13.49 on Wednesday. The stock has a fifty day simple moving average of $33.26 and a 200-day simple moving average of $44.52. The stock has a market cap of $2.48 billion, a PE ratio of -42.16 and a beta of 0.96. BlackRock Short-Term California Muni Bond ETF has a twelve month low of $5.42 and a twelve month high of $16.65.

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

Insider Activity

In related news, major shareholder Pep Tg Investments Gp Llc sold 10,000,000 shares of the company’s stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $14.70, for a total value of $147,000,000.00. Following the completion of the sale, the insider owned 11,175,226 shares in the company, valued at $164,275,822.20. This represents a 47.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.49% of the company’s stock.

BlackRock Short-Term California Muni Bond ETF Company Profile

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.