Shares of BlackBerry Limited (NYSE:BB - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the nine ratings firms that are covering the company, Marketbeat reports. Five analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $3.91.
BB has been the topic of several analyst reports. Robert W. Baird lifted their target price on BlackBerry from $3.00 to $3.50 and gave the company a "neutral" rating in a research note on Friday, December 20th. TD Securities upgraded shares of BlackBerry from a "hold" rating to a "buy" rating and upped their price objective for the stock from $3.25 to $4.00 in a research report on Friday, December 20th. TD Cowen upgraded shares of BlackBerry from a "hold" rating to a "buy" rating and raised their target price for the stock from $3.25 to $4.00 in a research note on Friday, December 20th. Royal Bank of Canada increased their price target on shares of BlackBerry from $3.25 to $4.00 and gave the stock a "sector perform" rating in a report on Friday, January 10th. Finally, Canaccord Genuity Group lifted their price objective on BlackBerry from $3.00 to $4.75 and gave the company a "hold" rating in a report on Tuesday, March 11th.
View Our Latest Stock Report on BB
BlackBerry Stock Performance
Shares of BB traded down $0.21 during mid-day trading on Friday, hitting $4.14. 13,128,576 shares of the company's stock were exchanged, compared to its average volume of 24,715,129. The firm has a market capitalization of $2.47 billion, a P/E ratio of -18.80 and a beta of 1.27. BlackBerry has a fifty-two week low of $2.01 and a fifty-two week high of $6.24. The business's 50 day moving average is $4.70 and its two-hundred day moving average is $3.45. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27.
Insider Activity at BlackBerry
In related news, insider Mattias Eriksson sold 14,475 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $3.68, for a total value of $53,268.00. Following the sale, the insider now directly owns 238,838 shares of the company's stock, valued at approximately $878,923.84. This represents a 5.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Jay P. Chai sold 24,425 shares of BlackBerry stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $4.19, for a total transaction of $102,340.75. The disclosure for this sale can be found here. Insiders sold 244,221 shares of company stock valued at $925,655 in the last ninety days. Corporate insiders own 0.34% of the company's stock.
Institutional Investors Weigh In On BlackBerry
Large investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC raised its holdings in shares of BlackBerry by 63.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,773 shares of the company's stock worth $37,000 after acquiring an additional 3,811 shares during the last quarter. Masso Torrence Wealth Management Inc. acquired a new position in BlackBerry in the 4th quarter valued at about $38,000. Mindset Wealth Management LLC purchased a new position in BlackBerry in the 4th quarter valued at about $38,000. Quadrant Capital Group LLC boosted its stake in shares of BlackBerry by 100.3% during the 4th quarter. Quadrant Capital Group LLC now owns 10,000 shares of the company's stock worth $38,000 after purchasing an additional 5,008 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of BlackBerry during the fourth quarter worth about $40,000. Institutional investors and hedge funds own 54.48% of the company's stock.
About BlackBerry
(
Get Free ReportBlackBerry 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.
See Also
Before you consider BlackBerry, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and BlackBerry wasn't on the list.
While BlackBerry currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Get this report to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
