BlackBerry Limited (NYSE:BB – Get Free Report) traded down 5.1% during mid-day trading on Thursday . The stock traded as low as $2.63 and last traded at $2.63. 3,486,179 shares changed hands during trading, a decline of 64% from the average session volume of 9,745,587 shares. The stock had previously closed at $2.77.
Analysts Set New Price Targets
Several analysts recently issued reports on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $3.00 price objective on shares of BlackBerry in a research note on Thursday, April 4th. StockNews.com cut shares of BlackBerry from a “hold” rating to a “sell” rating in a research note on Wednesday, February 21st. CIBC decreased their price objective on shares of BlackBerry from $4.25 to $3.50 and set a “neutral” rating on the stock in a report on Wednesday, February 14th. Finally, Robert W. Baird decreased their price objective on shares of BlackBerry from $4.50 to $3.50 and set a “neutral” rating on the stock in a report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat.com, BlackBerry presently has a consensus rating of “Hold” and a consensus target price of $4.08.
BlackBerry Price Performance
The stock’s fifty day moving average price is $2.89 and its two-hundred day moving average price is $3.08. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of -10.88 and a beta of 1.37. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.25.
BlackBerry (NYSE:BB – Get Free Report) last announced its quarterly earnings data 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. BlackBerry had a negative net margin of 15.24% and a negative return on equity of 0.24%. The business had revenue of $173.00 million for the quarter, compared to analyst estimates of $150.47 million. During the same period last year, the business earned ($0.04) EPS. The company’s revenue was up 14.6% on a year-over-year basis. Equities research analysts expect that BlackBerry Limited will post -0.09 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of BB. First Trust Advisors LP boosted its holdings in shares of BlackBerry by 70.1% in the fourth quarter. First Trust Advisors LP now owns 33,801,506 shares of the company’s stock valued at $119,657,000 after acquiring an additional 13,925,510 shares in the last quarter. FIFTHDELTA Ltd boosted its holdings in shares of BlackBerry by 2.3% in the first quarter. FIFTHDELTA Ltd now owns 31,499,858 shares of the company’s stock valued at $86,940,000 after acquiring an additional 710,015 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of BlackBerry by 0.8% in the first quarter. Vanguard Group Inc. now owns 19,505,300 shares of the company’s stock valued at $53,835,000 after acquiring an additional 149,444 shares in the last quarter. Norges Bank purchased a new stake in shares of BlackBerry in the fourth quarter valued at about $48,775,000. Finally, EdgePoint Investment Group Inc. boosted its holdings in shares of BlackBerry by 25.6% in the first quarter. EdgePoint Investment Group Inc. now owns 12,443,225 shares of the company’s stock valued at $34,343,000 after acquiring an additional 2,536,966 shares in the last quarter. 54.48% of the stock is owned by hedge funds and other institutional investors.
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 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.