Short Interest in BlackBerry Limited (NYSE:BB) Declines By 6.1%

BlackBerry Limited (NYSE:BB - Get Free Report) was the target of a significant decline in short interest in January. As of January 31st, there was short interest totalling 28,690,000 shares, a decline of 6.1% from the January 15th total of 30,540,000 shares. Based on an average daily volume of 17,640,000 shares, the days-to-cover ratio is presently 1.6 days. Approximately 4.9% of the shares of the stock are short sold.

Insider Activity at BlackBerry

In other news, insider Mattias Eriksson sold 12,680 shares of BlackBerry stock in a transaction on Monday, January 6th. The stock was sold at an average price of $4.00, for a total value of $50,720.00. Following the transaction, the insider now owns 278,306 shares in the company, valued at approximately $1,113,224. This trade represents a 4.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Jay P. Chai sold 24,425 shares of the business's stock in a transaction on Friday, January 24th. The stock was sold at an average price of $4.19, for a total value of $102,340.75. The disclosure for this sale can be found here. Insiders sold a total of 244,221 shares of company stock valued at $925,655 over the last quarter. 0.34% of the stock is owned by corporate insiders.

Institutional Trading of BlackBerry

A number of institutional investors have recently bought and sold shares of BB. Tower Research Capital LLC TRC grew its stake in BlackBerry by 63.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,773 shares of the company's stock worth $37,000 after purchasing an additional 3,811 shares during the period. Masso Torrence Wealth Management Inc. bought a new stake in shares of BlackBerry in the 4th quarter valued at $38,000. Mindset Wealth Management LLC acquired a new position in shares of BlackBerry during the 4th quarter valued at $38,000. Quadrant Capital Group LLC grew its holdings in BlackBerry by 100.3% in the fourth 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 period. Finally, Sanctuary Advisors LLC bought a new stake in BlackBerry in the fourth quarter valued at $40,000. Institutional investors own 54.48% of the company's stock.

Remove Ads

BlackBerry Trading Down 6.2 %

NYSE:BB traded down $0.35 during trading hours on Friday, hitting $5.24. 33,648,962 shares of the company were exchanged, compared to its average volume of 23,771,852. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of -23.80 and a beta of 1.31. BlackBerry has a one year low of $2.01 and a one year high of $6.24. The company has a fifty day simple moving average of $4.36 and a 200 day simple moving average of $3.10. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27.

BlackBerry (NYSE:BB - Get Free Report) last announced its earnings results on Thursday, December 19th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.03. BlackBerry had a negative return on equity of 2.02% and a negative net margin of 21.16%. The business had revenue of $143.00 million for the quarter, compared to analysts' expectations of $144.84 million. During the same period in the prior year, the business posted $0.01 earnings per share. The firm's revenue was down 5.9% on a year-over-year basis. Sell-side analysts expect that BlackBerry will post -0.03 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on BB shares. StockNews.com raised shares of BlackBerry from a "sell" rating to a "hold" rating in a report on Monday, December 9th. Royal Bank of Canada increased their price objective 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. Robert W. Baird boosted their target price on shares of BlackBerry from $3.00 to $3.50 and gave the stock a "neutral" rating in a research note on Friday, December 20th. TD Securities upgraded BlackBerry from a "hold" rating to a "buy" rating and increased their price target for the company from $3.25 to $4.00 in a research note on Friday, December 20th. Finally, Canaccord Genuity Group boosted their price objective on BlackBerry from $2.80 to $3.00 and gave the stock a "hold" rating in a research report on Friday, December 20th. Six research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, BlackBerry has a consensus rating of "Moderate Buy" and a consensus target price of $3.69.

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.