BlackBerry Limited (NYSE:BB) Given Average Rating of "Moderate Buy" by Analysts

BlackBerry Limited (NYSE:BB - Get Free Report) has been assigned an average rating of "Moderate Buy" from the eight brokerages that are covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $4.12.

A number of analysts have recently issued reports on BB shares. Royal Bank of Canada set a $3.75 target price on BlackBerry in a report on Thursday, April 3rd. StockNews.com raised shares of BlackBerry from a "sell" rating to a "hold" rating in a research report on Friday, April 11th. Canaccord Genuity Group reduced their target price on shares of BlackBerry from $4.75 to $4.25 and set a "hold" rating on the stock in a report on Thursday, April 3rd. Finally, CIBC lowered their price target on BlackBerry from $7.00 to $6.00 and set an "outperformer" rating for the company in a report on Thursday, April 3rd.

Insider Transactions at BlackBerry

In related news, SVP Jennifer Armstrong-Owen sold 29,940 shares of BlackBerry stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $2.99, for a total value of $89,520.60. Following the completion of the transaction, the senior vice president now directly owns 42,398 shares in the company, valued at approximately $126,770.02. This trade represents a 41.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jay P. Chai sold 24,425 shares of the company's 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 ninety days, insiders have sold 61,641 shares of company stock valued at $214,365. 0.34% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BB. Parallel Advisors LLC lifted its stake in BlackBerry by 216.2% during the first 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 lifted its position in shares of BlackBerry by 63.9% in the 4th 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 during the last quarter. Quantinno Capital Management LP acquired a new position in shares of BlackBerry in the 3rd quarter valued at about $38,000. Masso Torrence Wealth Management Inc. bought a new stake in shares of BlackBerry during the 4th quarter valued at about $38,000. Finally, Mindset Wealth Management LLC acquired a new stake in BlackBerry during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 54.48% of the company's stock.

BlackBerry Trading Up 2.0 %

NYSE:BB traded up $0.07 during trading hours on Thursday, reaching $3.36. 2,566,963 shares of the company were exchanged, compared to its average volume of 13,781,334. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of -15.25 and a beta of 1.30. The stock has a 50 day simple moving average of $4.14 and a 200 day simple moving average of $3.57. BlackBerry has a 52-week low of $2.01 and a 52-week high of $6.24. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.37 and a quick ratio of 1.37.

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