BlackBerry (NYSE:BB) Stock Price Up 9.6% - Still a Buy?

BlackBerry Limited (NYSE:BB - Get Free Report) rose 9.6% on Wednesday . The stock traded as high as $5.03 and last traded at $5.07. Approximately 20,230,713 shares traded hands during trading, a decline of 1% from the average daily volume of 20,353,684 shares. The stock had previously closed at $4.62.

Analyst Ratings Changes

Several analysts have recently issued reports on BB shares. Robert W. Baird upped their price target on BlackBerry from $3.00 to $3.50 and gave the stock a "neutral" rating in a research note on Friday, December 20th. Canaccord Genuity Group upped their target price on BlackBerry from $2.80 to $3.00 and gave the stock a "hold" rating in a research report on Friday, December 20th. StockNews.com raised shares of BlackBerry from a "sell" rating to a "hold" rating in a research report on Monday, December 9th. Royal Bank of Canada upped their price objective 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, TD Cowen 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 report on Friday, December 20th. Six research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $3.69.

BlackBerry Trading Up 1.6 %

The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.37 and a current ratio of 1.37. The company's 50 day moving average is $3.77 and its 200 day moving average is $2.87. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of -23.84 and a beta of 1.31.

BlackBerry (NYSE:BB - Get Free Report) last announced its quarterly earnings data on Thursday, December 19th. The company reported $0.02 EPS for the quarter, beating analysts' consensus estimates of ($0.01) by $0.03. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. The business had revenue of $143.00 million during the quarter, compared to analyst estimates of $144.84 million. During the same quarter in the prior year, the business earned $0.01 earnings per share. The firm's revenue for the quarter was down 5.9% on a year-over-year basis. On average, research analysts forecast that BlackBerry Limited will post -0.03 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Mattias Eriksson sold 12,680 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $4.00, for a total value of $50,720.00. Following the completion of the transaction, the insider now owns 278,306 shares of the company's stock, valued at $1,113,224. This represents a 4.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Jay P. Chai sold 24,425 shares of the firm's 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. In the last quarter, insiders sold 244,221 shares of company stock worth $925,655. 0.34% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. boosted its stake in shares of BlackBerry by 83.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company's stock valued at $29,000 after purchasing an additional 5,349 shares in the last quarter. Quantinno Capital Management LP acquired a new position in BlackBerry in the third quarter valued at about $38,000. Masso Torrence Wealth Management Inc. bought a new stake in BlackBerry during the fourth quarter worth about $38,000. Sanctuary Advisors LLC acquired a new stake in shares of BlackBerry during the fourth quarter worth approximately $40,000. Finally, HighTower Advisors LLC bought a new position in shares of BlackBerry in the fourth quarter valued at approximately $41,000. 54.48% of the stock is currently owned by institutional investors and hedge funds.

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.