StockNews.com Upgrades BlackBerry (NYSE:BB) to Hold

BlackBerry (NYSE:BB - Get Free Report) was upgraded by equities researchers at StockNews.com from a "sell" rating to a "hold" rating in a research note issued to investors on Friday.

A number of other research analysts also recently commented on BB. Royal Bank of Canada set a $3.75 target price on BlackBerry in a research note on Thursday, April 3rd. Canaccord Genuity Group lowered their price target on BlackBerry from $4.75 to $4.25 and set a "hold" rating for the company in a research note on Thursday, April 3rd. TD Securities raised shares of BlackBerry from a "hold" rating to a "buy" rating and raised their price objective for the company from $3.25 to $4.00 in a research report on Friday, December 20th. CIBC reduced their target price on shares of BlackBerry from $7.00 to $6.00 and set an "outperformer" rating for the company in a research note on Thursday, April 3rd. Finally, TD Cowen upgraded shares of BlackBerry from a "hold" rating to a "buy" rating and increased their price target for the stock from $3.25 to $4.00 in a research note on Friday, December 20th. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, BlackBerry presently has an average rating of "Hold" and a consensus price target of $4.12.

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BlackBerry Stock Down 0.5 %

Shares of NYSE BB traded down $0.02 during mid-day trading on Friday, reaching $3.22. The company had a trading volume of 1,437,387 shares, compared to its average volume of 13,610,812. 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 has a market capitalization of $1.92 billion, a price-to-earnings ratio of -14.66 and a beta of 1.30. The stock has a fifty day moving average of $4.37 and a two-hundred day moving average of $3.55. BlackBerry has a 12-month low of $2.01 and a 12-month high of $6.24.

BlackBerry (NYSE:BB - Get Free Report) last released its earnings results on Wednesday, April 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.01. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. The company had revenue of $141.70 million during the quarter, compared to the consensus estimate of $137.56 million. During the same quarter in the prior year, the firm earned $0.03 EPS. The company's revenue was down 7.3% compared to the same quarter last year. As a group, equities research analysts expect that BlackBerry will post -0.03 EPS for the current year.

Insider Transactions at BlackBerry

In other BlackBerry news, SVP Jennifer Armstrong-Owen sold 29,940 shares of BlackBerry stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $2.99, for a total value of $89,520.60. Following the transaction, the senior vice president now directly owns 42,398 shares of the company's stock, valued at $126,770.02. The trade was a 41.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Jay P. Chai sold 24,425 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were 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. Over the last three months, insiders sold 61,641 shares of company stock worth $214,365. 0.34% of the stock is owned by insiders.

Hedge Funds Weigh In On BlackBerry

Institutional investors and hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC grew its position in BlackBerry by 216.2% in the 1st quarter. Parallel Advisors LLC now owns 7,156 shares of the company's stock worth $27,000 after purchasing an additional 4,893 shares during the last quarter. Tower Research Capital LLC TRC grew its position 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 buying an additional 3,811 shares in the last quarter. Quantinno Capital Management LP bought a new position in BlackBerry during the third quarter valued at about $38,000. Masso Torrence Wealth Management Inc. acquired a new position in BlackBerry in the 4th quarter valued at approximately $38,000. Finally, Mindset Wealth Management LLC acquired a new position in shares of BlackBerry in the fourth quarter valued at $38,000. Institutional investors own 54.48% of the company's stock.

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.