BlackBerry Limited (NYSE:BB) Short Interest Update

BlackBerry Limited (NYSE:BB - Get Free Report) saw a large increase in short interest in January. As of January 15th, there was short interest totalling 29,500,000 shares, an increase of 7.1% from the December 31st total of 27,540,000 shares. Based on an average daily volume of 13,000,000 shares, the short-interest ratio is presently 2.3 days. Currently, 5.1% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

BB has been the topic of several recent research reports. TD Securities upgraded shares of BlackBerry from a "hold" rating to a "buy" rating and lifted their target price 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 lifted their price target for the stock from $3.25 to $4.00 in a report on Friday, December 20th. Royal Bank of Canada boosted their price objective on shares of BlackBerry from $3.25 to $4.00 and gave the stock a "sector perform" rating in a research note on Friday, January 10th. Robert W. Baird raised their target price on BlackBerry from $3.00 to $3.50 and gave the stock a "neutral" rating in a research report on Friday, December 20th. Finally, Canaccord Genuity Group upped their price target on BlackBerry from $2.80 to $3.00 and gave the company a "hold" rating in a research report on Friday, December 20th. 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 stock. According to MarketBeat.com, BlackBerry has a consensus rating of "Moderate Buy" and an average price target of $3.69.

BlackBerry Trading Up 1.6 %

BlackBerry stock traded up $0.09 during trading hours on Friday, reaching $5.25. 27,302,130 shares of the company's stock were exchanged, compared to its average volume of 21,398,703. The firm's 50 day simple moving average is $3.71 and its 200 day simple moving average is $2.85. BlackBerry has a twelve month low of $2.01 and a twelve month high of $5.34. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $3.10 billion, a PE ratio of -23.84 and a beta of 1.31.

BlackBerry (NYSE:BB - Get Free Report) last released 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. 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 during the quarter, compared to analysts' expectations of $144.84 million. During the same quarter last year, the firm posted $0.01 earnings per share. The firm's revenue was down 5.9% on a year-over-year basis. Research analysts predict that BlackBerry will post -0.03 earnings per share for the current year.

Insider Activity

In other BlackBerry news, CEO John Joseph Giamatteo sold 155,815 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $3.68, for a total value of $573,399.20. Following the completion of the transaction, the chief executive officer now directly owns 385,552 shares in the company, valued at approximately $1,418,831.36. This trade represents a 28.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mattias Eriksson sold 14,475 shares of the business's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $3.68, for a total value of $53,268.00. Following the sale, the insider now owns 238,838 shares in the company, valued at approximately $878,923.84. This trade represents a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 244,221 shares of company stock worth $925,655. Corporate insiders own 0.34% of the company's stock.

Institutional Trading of BlackBerry

Hedge funds have recently modified their holdings of the stock. HighTower Advisors LLC acquired a new stake in BlackBerry in the fourth quarter worth $41,000. Prosperity Wealth Management Inc. acquired a new position in shares of BlackBerry during the fourth quarter valued at about $178,000. SLT Holdings LLC bought a new position in shares of BlackBerry during the 4th quarter worth about $76,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of BlackBerry in the 4th quarter valued at about $1,112,000. Finally, Raymond James Financial Inc. bought a new stake in BlackBerry in the 4th quarter valued at about $544,000. Institutional investors own 54.48% of the company's stock.

About BlackBerry

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.