BlackBerry (NYSE:BB) Stock Price Down 3.6%

BlackBerry Limited (NYSE:BB)’s stock price traded down 3.6% during mid-day trading on Monday . The stock traded as low as $2.93 and last traded at $2.94. 1,009,264 shares were traded during trading, a decline of 90% from the average session volume of 9,760,327 shares. The stock had previously closed at $3.05.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BB. StockNews.com downgraded BlackBerry from a “hold” rating to a “sell” rating in a research note on Wednesday, February 21st. CIBC reduced their price objective on shares of BlackBerry from $4.25 to $3.50 and set a “neutral” rating for the company in a research report on Wednesday, February 14th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $3.00 price objective on shares of BlackBerry in a research note on Thursday, April 4th. Robert W. Baird cut their target price on shares of BlackBerry from $4.50 to $3.50 and set a “neutral” rating on the stock in a research note on Wednesday, February 14th. Finally, Raymond James decreased their price target on shares of BlackBerry from $7.00 to $6.50 and set a “market perform” rating for the company in a research note on Thursday, December 21st. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $4.08.

BlackBerry Price Performance

The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of -11.92 and a beta of 1.41. The business’s fifty day moving average price is $2.79 and its 200-day moving average price is $3.33. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.43 and a quick ratio of 1.43.

BlackBerry (NYSE:BB) last announced its earnings results on Wednesday, April 3rd. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.06. The firm had revenue of $173.00 million for 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 company’s revenue was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.04) EPS. On average, research analysts forecast that BlackBerry Limited will post -0.09 EPS for the current year.

Insider Activity at BlackBerry

In related news, Director Philip G. Brace purchased 35,000 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were bought at an average price of $2.79 per share, with a total value of $97,650.00. Following the acquisition, the director now owns 35,000 shares of the company’s stock, valued at approximately $97,650. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.94% of the stock is owned by company insiders.

Institutional Trading of BlackBerry

Several institutional investors and hedge funds have recently bought and sold shares of BB. Optiver Holding B.V. bought a new stake in shares of BlackBerry during the 3rd quarter worth $25,000. GHP Investment Advisors Inc. bought a new stake in BlackBerry during the third quarter worth about $28,000. Highlander Capital Management LLC boosted its holdings in shares of BlackBerry by 77.8% in the 4th quarter. Highlander Capital Management LLC now owns 8,000 shares of the company’s stock worth $28,000 after purchasing an additional 3,500 shares in the last quarter. Virtu Financial LLC bought a new position in shares of BlackBerry during the 4th quarter valued at about $36,000. Finally, Creative Planning purchased a new position in shares of BlackBerry during the 4th quarter valued at about $37,000. 54.48% of the stock is currently 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 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.