BlackBerry Ltd (BB) Short Interest Update

BlackBerry Ltd (NYSE:BB) saw a significant decrease in short interest in November. As of November 15th, there was short interest totalling 30,892,490 shares, a decrease of 11.4% from the October 31st total of 34,885,377 shares. Based on an average daily volume of 3,543,346 shares, the short-interest ratio is currently 8.7 days.

Shares of NYSE:BB opened at $8.41 on Wednesday. The company has a quick ratio of 6.43, a current ratio of 6.43 and a debt-to-equity ratio of 0.30. BlackBerry has a 1 year low of $8.23 and a 1 year high of $14.55. The firm has a market cap of $4.75 billion, a P/E ratio of 168.20 and a beta of 1.80.

BlackBerry (NYSE:BB) last announced its quarterly earnings data on Friday, September 28th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.03. BlackBerry had a positive return on equity of 0.61% and a negative net margin of 34.24%. The business had revenue of $214.00 million during the quarter, compared to analyst estimates of $209.41 million. During the same period last year, the company earned $0.05 earnings per share. BlackBerry’s quarterly revenue was down 14.1% compared to the same quarter last year.

Several large investors have recently made changes to their positions in BB. Robotti Robert acquired a new position in BlackBerry during the third quarter worth $114,000. Gabelli Funds LLC acquired a new position in BlackBerry during the third quarter worth $114,000. US Bancorp DE acquired a new position in BlackBerry during the third quarter worth $119,000. King Luther Capital Management Corp acquired a new position in BlackBerry during the third quarter worth $127,000. Finally, Atlas Capital Advisors LLC acquired a new position in BlackBerry during the third quarter worth $128,000. Institutional investors and hedge funds own 53.72% of the company’s stock.

Several brokerages recently issued reports on BB. Zacks Investment Research upgraded BlackBerry from a “hold” rating to a “strong-buy” rating and set a $12.00 price objective for the company in a report on Thursday, October 4th. Raymond James increased their price objective on BlackBerry from $11.00 to $11.50 and gave the stock a “market perform” rating in a report on Monday, October 1st. CIBC upgraded BlackBerry from a “neutral” rating to an “outperform” rating and set a $14.00 price objective for the company in a report on Monday, November 19th. They noted that the move was a valuation call. Finally, Canaccord Genuity reiterated a “hold” rating on shares of BlackBerry in a report on Friday, November 16th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $12.13.

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About BlackBerry

BlackBerry Limited operates as an enterprise software and services company focused on securing and managing endpoints in the Internet of Things. It offers BlackBerry Enterprise Mobility Suite, which combines and integrates mobile security, management, productivity, and collaboration solutions, such as BlackBerry UEM, BlackBerry Dynamics, and BlackBerry Workspaces; BlackBerry AtHoc, a secure and networked crisis communications solution; SecuSUITE for Government, a voice encryption software solution; BlackBerry Enterprise Consulting and BlackBerry Cybersecurity Consulting; and BBM Enterprise, an enterprise-grade secure instant messaging solution, as well as Communications Platform as a Service.

See Also: Systematic Risk

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