Short Interest in BlackBerry Limited (NYSE:BB) Increases By 7.1%

BlackBerry Limited (NYSE:BBGet Free Report) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 29,500,000 shares, a growth of 7.1% from the December 15th total of 27,540,000 shares. Approximately 5.1% of the company’s shares are sold short. Based on an average daily trading volume, of 13,000,000 shares, the short-interest ratio is currently 2.3 days.

Analyst Upgrades and Downgrades

BB has been the topic of a number of research reports. TD Securities raised BlackBerry from a “hold” rating to a “buy” rating and upped their price target for the stock from $3.25 to $4.00 in a research note on Friday, December 20th. TD Cowen upgraded BlackBerry from a “hold” rating to a “buy” rating and increased their target price for the stock from $3.25 to $4.00 in a report on Friday, December 20th. Royal Bank of Canada boosted their price target on shares of BlackBerry from $3.25 to $4.00 and gave the company a “sector perform” rating in a research note on Friday, January 10th. Canaccord Genuity Group raised their price objective on shares of BlackBerry from $2.80 to $3.00 and gave the company a “hold” rating in a research note on Friday, December 20th. Finally, CIBC boosted 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. Six investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $3.69.

Read Our Latest Report on BB

Insider Buying and Selling

In related news, insider Mattias Eriksson sold 12,680 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $4.00, for a total transaction of $50,720.00. Following the transaction, the insider now directly owns 278,306 shares of the company’s stock, valued at $1,113,224. This represents a 4.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John Joseph Giamatteo sold 155,815 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $3.68, for a total transaction of $573,399.20. Following the completion of the sale, the chief executive officer now owns 385,552 shares of the company’s stock, valued at $1,418,831.36. The trade was a 28.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 219,796 shares of company stock valued at $823,314 over the last quarter. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. EP Wealth Advisors LLC bought a new stake in shares of BlackBerry during the 2nd quarter worth $28,000. Northwestern Mutual Wealth Management Co. increased its holdings in BlackBerry by 83.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock worth $29,000 after buying an additional 5,349 shares during the last quarter. Quantinno Capital Management LP bought a new stake in BlackBerry in the third quarter worth about $38,000. Ballentine Partners LLC purchased a new position in BlackBerry in the fourth quarter valued at about $65,000. Finally, International Assets Investment Management LLC boosted its stake in BlackBerry by 60.7% in the third quarter. International Assets Investment Management LLC now owns 20,769 shares of the company’s stock valued at $540,000 after acquiring an additional 7,842 shares during the last quarter. Institutional investors own 54.48% of the company’s stock.

BlackBerry Stock Down 5.3 %

Shares of BB stock traded down $0.23 on Monday, hitting $3.99. The stock had a trading volume of 17,287,846 shares, compared to its average volume of 16,549,552. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.37 and a quick ratio of 1.37. The business has a 50 day moving average of $3.17 and a 200 day moving average of $2.66. BlackBerry has a 12-month low of $2.01 and a 12-month high of $4.35. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of -18.11 and a beta of 1.30.

BlackBerry (NYSE:BBGet Free Report) last posted its earnings results on Thursday, December 19th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.03. The firm had revenue of $143.00 million for the quarter, compared to analysts’ expectations of $144.84 million. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. The company’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.01 EPS. As a group, analysts expect that BlackBerry will post -0.03 EPS for the current year.

About BlackBerry

(Get Free Report)

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.

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