BlackBerry Limited (NYSE:BB) Short Interest Update

BlackBerry Limited (NYSE:BB - Get Free Report) was the recipient of a significant increase in short interest in February. As of February 15th, there was short interest totalling 35,280,000 shares, an increase of 23.0% from the January 31st total of 28,690,000 shares. Approximately 6.1% of the company's stock are sold short. Based on an average trading volume of 21,910,000 shares, the days-to-cover ratio is currently 1.6 days.

Insider Activity at BlackBerry

In other news, CEO John Joseph Giamatteo sold 155,815 shares of BlackBerry stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $3.68, for a total value of $573,399.20. Following the transaction, the chief executive officer now owns 385,552 shares of the company's stock, valued at $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 SEC, which can be accessed through this hyperlink. Also, CAO Jay P. Chai sold 24,425 shares of BlackBerry stock in a transaction that occurred on Friday, January 24th. The shares were 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. Over the last quarter, insiders have sold 244,221 shares of company stock valued at $925,655. 0.34% of the stock is currently owned by corporate insiders.

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Institutional Trading of BlackBerry

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its holdings in BlackBerry by 63.9% during the 4th 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 last quarter. Masso Torrence Wealth Management Inc. bought a new stake in BlackBerry during the 4th quarter worth about $38,000. Mindset Wealth Management LLC bought a new stake in BlackBerry during the 4th quarter worth about $38,000. Quadrant Capital Group LLC raised its holdings in 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 bought a new stake in BlackBerry during the 4th quarter worth about $40,000. 54.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. StockNews.com raised shares of BlackBerry from a "sell" rating to a "hold" rating in a research report on Monday, December 9th. Canaccord Genuity Group boosted their target price on shares of BlackBerry from $2.80 to $3.00 and gave the stock a "hold" rating in a research report on Friday, December 20th. TD Cowen raised shares of BlackBerry from a "hold" rating to a "buy" rating and boosted their target price for the stock from $3.25 to $4.00 in a research report on Friday, December 20th. Royal Bank of Canada lifted their price target 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. Finally, TD Securities 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 research note on Friday, December 20th. Six equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $3.69.

BlackBerry Price Performance

Shares of BlackBerry stock traded up $0.12 during trading on Friday, reaching $4.53. The company's stock had a trading volume of 17,315,585 shares, compared to its average volume of 13,288,120. The stock has a 50-day moving average price of $4.58 and a two-hundred day moving average price of $3.25. 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 has a one year low of $2.01 and a one year high of $6.24. The stock has a market capitalization of $2.70 billion, a P/E ratio of -20.57 and a beta of 1.27.

BlackBerry (NYSE:BB - Get Free Report) last released its quarterly earnings results on Thursday, December 19th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 period in the previous year, the business posted $0.01 earnings per share. The firm's revenue for the quarter was down 5.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that BlackBerry will post -0.03 EPS for the current fiscal year.

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.