BlackBerry (NYSE:BB) Shares Down 4.5% – What’s Next?

BlackBerry Limited (NYSE:BB) shares fell 4.5% during mid-day trading on Friday . The company traded as low as $3.64 and last traded at $3.65. 8,991,507 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 13,513,541 shares. The stock had previously closed at $3.82.

Analyst Ratings Changes

BB has been the topic of a number of research reports. TD Securities raised BlackBerry from a “hold” rating to a “buy” rating and raised their price objective for the company from $3.25 to $4.00 in a report on Friday, December 20th. Royal Bank of Canada lifted their price target on shares of BlackBerry from $3.00 to $3.25 and gave the stock a “sector perform” rating in a research note on Tuesday, December 17th. Robert W. Baird boosted their price objective on shares of BlackBerry from $3.00 to $3.50 and gave the stock a “neutral” rating in a report on Friday, December 20th. CIBC lifted their target price on shares of BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, StockNews.com upgraded shares of BlackBerry from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. Six research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $3.60.

BlackBerry Price Performance

The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.27. The business’s 50-day simple moving average is $2.80 and its 200-day simple moving average is $2.53. The stock has a market cap of $2.17 billion, a PE ratio of -14.64 and a beta of 1.43.

BlackBerry (NYSE:BB) last announced its quarterly earnings results on Thursday, December 19th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. BlackBerry had a negative return on equity of 3.38% and a negative net margin of 21.66%. The company had revenue of $143.00 million for the quarter, compared to the consensus estimate of $144.84 million. During the same quarter in the previous year, the business earned $0.01 EPS. BlackBerry’s revenue was down 5.9% compared to the same quarter last year. On average, research analysts expect that BlackBerry Limited will post -0.06 EPS for the current fiscal year.

Institutional Trading of BlackBerry

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Intact Investment Management Inc. raised its holdings in BlackBerry by 25.7% in the 3rd quarter. Intact Investment Management Inc. now owns 1,439,240 shares of the company’s stock worth $3,789,000 after purchasing an additional 294,250 shares in the last quarter. Capstone Investment Advisors LLC purchased a new position in shares of BlackBerry during the third quarter valued at about $1,285,000. State Street Corp raised its stake in BlackBerry by 1.9% in the third quarter. State Street Corp now owns 1,309,606 shares of the company’s stock worth $3,431,000 after buying an additional 24,309 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in BlackBerry by 7.6% in the third quarter. BNP Paribas Financial Markets now owns 163,531 shares of the company’s stock worth $428,000 after buying an additional 11,488 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its position in BlackBerry by 815.6% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 548,884 shares of the company’s stock valued at $1,361,000 after acquiring an additional 488,934 shares in the last quarter. Hedge funds and other institutional investors own 54.48% of the company’s stock.

About BlackBerry

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 CylanceENDPOINT, an integrated endpoint security solution; CylanceGUARD, a managed detection and response solution; CylanceEDGE, an AI-powered continuous authentication zero trust network access solution; CylanceINTELLIGENCE, a contextual cyber threat intelligence service; BlackBerry Dynamics offers a development platform and secure container for mobile applications; BlackBerry Workspaces a secure Enterprise File Sync and Share (EFSS) solution; BlackBerry Messenger (BBM) Enterprise, an enterprise-grade secure instant messaging solution for messaging, voice and video; BlackBerry SecuSUITE is a certified, multi-OS voice and text messaging solution; BlackBerry AtHoc, a secure networked critical event management solution; and BlackBerry unified endpoint management (UEM) solutions.