BlackBerry Limited (NYSE:BB – Get Free Report)’s stock price traded down 3.6% on Monday . The stock traded as low as $2.93 and last traded at $2.94. 1,009,264 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 9,760,327 shares. The stock had previously closed at $3.05.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on the company. CIBC cut their target price on BlackBerry from $4.25 to $3.50 and set a “neutral” rating on the stock in a research note on Wednesday, February 14th. Robert W. Baird dropped their price target on BlackBerry from $4.50 to $3.50 and set a “neutral” rating on the stock in a research report on Wednesday, February 14th. Canaccord Genuity Group dropped their price target on BlackBerry from $5.00 to $4.25 and set a “hold” rating on the stock in a research report on Thursday, December 21st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $3.00 price target on shares of BlackBerry in a research report on Thursday, April 4th. Finally, TD Securities dropped their price target on BlackBerry from $4.00 to $3.75 and set a “hold” rating on the stock in a research report on Thursday, December 21st. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat.com, BlackBerry currently has an average rating of “Hold” and an average price target of $4.08.
BlackBerry Stock Performance
The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $1.62 billion, a P/E ratio of -11.92 and a beta of 1.41. The stock has a fifty day moving average of $2.79 and a 200-day moving average of $3.33.
BlackBerry (NYSE:BB – Get Free Report) last posted its quarterly earnings results on Wednesday, April 3rd. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.06. The firm had revenue of $173.00 million during the quarter, compared to the consensus estimate of $150.47 million. BlackBerry had a negative return on equity of 0.24% and a negative net margin of 15.24%. The business’s revenue was up 14.6% compared to the same quarter last year. During the same period last year, the company earned ($0.04) earnings per share. On average, research analysts anticipate that BlackBerry Limited will post -0.09 EPS for the current year.
Insider Buying and Selling at BlackBerry
In other BlackBerry news, Director Philip G. Brace bought 35,000 shares of BlackBerry stock in a transaction dated Wednesday, February 14th. The stock was bought at an average cost of $2.79 per share, for a total transaction of $97,650.00. Following the purchase, the director now owns 35,000 shares of the company’s stock, valued at approximately $97,650. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.94% of the company’s stock.
Institutional Trading of BlackBerry
Hedge funds have recently added to or reduced their stakes in the company. Citigroup Inc. raised its holdings in shares of BlackBerry by 8.1% during the 3rd quarter. Citigroup Inc. now owns 282,592 shares of the company’s stock worth $1,344,000 after buying an additional 21,100 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of BlackBerry by 2.9% during the 3rd quarter. Vanguard Group Inc. now owns 19,224,723 shares of the company’s stock worth $90,548,000 after buying an additional 534,772 shares in the last quarter. Hudson Bay Capital Management LP acquired a new position in shares of BlackBerry during the 3rd quarter worth $2,016,000. Public Sector Pension Investment Board raised its holdings in shares of BlackBerry by 0.8% during the 3rd quarter. Public Sector Pension Investment Board now owns 1,134,077 shares of the company’s stock worth $5,394,000 after buying an additional 9,248 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of BlackBerry by 59.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,695,900 shares of the company’s stock worth $41,164,000 after buying an additional 3,245,600 shares in the last quarter. 54.48% of the stock is owned by institutional investors and hedge funds.
BlackBerry Company Profile
BlackBerry Limited provides intelligent security software and services to enterprises and governments worldwide. The company operates through three segments: Cybersecurity, IoT, and Licensing and Other. The company offers CylancePROTECT, an endpoint protection platform and mobile threat defense solution; CylanceOPTICS, an endpoint detection and response solution; CylanceGUARD, a managed detection and response solution; CylanceGATEWAY, an AI-empowered zero-trust network access solution; CylancePERSONA, a user and entity behavior analytics solution; BlackBerry unified endpoint management, a central software component for secure communications platform; BlackBerry Dynamics, a development platform and secure container for mobile applications; and BlackBerry Workspaces solutions.