BlackBerry (NYSE:BB) Sees Large Volume Increase - Time to Buy?

Shares of BlackBerry Limited (NYSE:BB - Get Free Report) saw an uptick in trading volume on Monday . 49,357,121 shares changed hands during mid-day trading, an increase of 102% from the previous session's volume of 24,431,664 shares.The stock last traded at $5.48 and had previously closed at $5.24.

Analysts Set New Price Targets

BB has been the topic of several analyst reports. Robert W. Baird upped their price target on shares of BlackBerry from $3.00 to $3.50 and gave the company a "neutral" rating in a report on Friday, December 20th. StockNews.com raised BlackBerry from a "sell" rating to a "hold" rating in a research note on Monday, December 9th. Canaccord Genuity Group boosted their price objective on BlackBerry from $2.80 to $3.00 and gave the company a "hold" rating in a report on Friday, December 20th. TD Securities upgraded BlackBerry from a "hold" rating to a "buy" rating and increased their target price for the stock from $3.25 to $4.00 in a research note on Friday, December 20th. Finally, Royal Bank of Canada lifted their target price on BlackBerry from $3.25 to $4.00 and gave the stock a "sector perform" rating in a research report on Friday, January 10th. Six 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 stock. Based on data from MarketBeat, BlackBerry currently has a consensus rating of "Moderate Buy" and a consensus target price of $3.69.

Remove Ads

BlackBerry Trading Down 0.7 %

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 company has a market capitalization of $2.81 billion, a PE ratio of -21.43 and a beta of 1.31. The stock's 50 day moving average is $4.54 and its two-hundred day moving average is $3.20.

BlackBerry (NYSE:BB - Get Free Report) last issued its quarterly earnings data on Thursday, December 19th. The company reported $0.02 earnings per share for the quarter, topping 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 firm had revenue of $143.00 million during the quarter, compared to analysts' expectations of $144.84 million. During the same period in the prior year, the business posted $0.01 EPS. The firm's quarterly revenue was down 5.9% on a year-over-year basis. As a group, sell-side analysts predict that BlackBerry Limited will post -0.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other BlackBerry news, insider Mattias Eriksson sold 14,475 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $3.68, for a total value of $53,268.00. Following the completion of the transaction, the insider now directly owns 238,838 shares of the company's stock, valued at approximately $878,923.84. The trade was a 5.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Jay P. Chai sold 24,425 shares of the stock in a transaction on 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. Over the last quarter, insiders sold 244,221 shares of company stock valued at $925,655. Insiders own 0.34% of the company's stock.

Institutional Investors Weigh In On BlackBerry

Institutional investors have recently modified their holdings of the business. Barclays PLC lifted its holdings in BlackBerry by 60.2% during the third quarter. Barclays PLC now owns 249,218 shares of the company's stock valued at $652,000 after purchasing an additional 93,651 shares in the last quarter. Milestone Asset Management LLC acquired a new stake in shares of BlackBerry during the 4th quarter worth approximately $557,000. Intact Investment Management Inc. increased its stake in BlackBerry by 25.7% during the third quarter. Intact Investment Management Inc. now owns 1,439,240 shares of the company's stock worth $3,789,000 after acquiring an additional 294,250 shares during the last quarter. Capstone Investment Advisors LLC purchased a new stake in BlackBerry in the 3rd quarter valued at about $1,285,000. Finally, Alberta Investment Management Corp raised its stake in shares of BlackBerry by 60.5% in the 4th quarter. Alberta Investment Management Corp now owns 644,900 shares of the company's stock valued at $2,448,000 after acquiring an additional 243,000 shares during the period. 54.48% of the stock is currently owned by institutional investors and hedge funds.

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.