BlackBerry Limited (NYSE:BB - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the nine ratings firms that are currently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $3.91.
BB has been the topic of several research reports. StockNews.com raised BlackBerry from a "sell" rating to a "hold" rating in a research report on Monday, December 9th. Royal Bank of Canada boosted their target price on shares of BlackBerry from $3.25 to $4.00 and gave the company a "sector perform" rating in a research report on Friday, January 10th. Robert W. Baird boosted their price objective on shares of BlackBerry from $3.00 to $3.50 and gave the company a "neutral" rating in a report on Friday, December 20th. TD Securities raised shares of BlackBerry from a "hold" rating to a "buy" rating and raised their target price for the stock from $3.25 to $4.00 in a report on Friday, December 20th. Finally, TD Cowen upgraded BlackBerry from a "hold" rating to a "buy" rating and boosted their price target for the company from $3.25 to $4.00 in a research note on Friday, December 20th.
View Our Latest Analysis on BB
Insider Transactions at BlackBerry
In other BlackBerry news, CEO John Joseph Giamatteo sold 29,402 shares of the company's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $4.00, for a total value of $117,608.00. Following the completion of the transaction, the chief executive officer now owns 490,761 shares of the company's stock, valued at $1,963,044. This represents a 5.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Jay P. Chai sold 24,425 shares of BlackBerry stock in a transaction dated 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. In the last quarter, insiders sold 244,221 shares of company stock valued at $925,655. Corporate insiders own 0.34% of the company's stock.
Institutional Investors Weigh In On BlackBerry
Hedge funds have recently added to or reduced their stakes in the business. Barclays PLC lifted its holdings in shares of BlackBerry by 60.2% during the third quarter. Barclays PLC now owns 249,218 shares of the company's stock worth $652,000 after purchasing an additional 93,651 shares during the period. Milestone Asset Management LLC bought a new stake in shares of BlackBerry in the 4th quarter valued at about $557,000. Capstone Investment Advisors LLC acquired a new stake in shares of BlackBerry in the third quarter valued at about $1,285,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of BlackBerry by 41.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,669,715 shares of the company's stock worth $51,856,000 after acquiring an additional 4,039,483 shares during the period. Finally, Alberta Investment Management Corp boosted its holdings in BlackBerry by 60.5% in the fourth 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 last quarter. 54.48% of the stock is currently owned by institutional investors and hedge funds.
BlackBerry Stock Performance
Shares of BB stock traded down $0.04 on Friday, reaching $3.93. The stock had a trading volume of 13,380,667 shares, compared to its average volume of 13,305,695. BlackBerry has a 12 month low of $2.01 and a 12 month high of $6.24. 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 firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of -17.84 and a beta of 1.27. The firm's 50-day moving average is $4.70 and its two-hundred day moving average is $3.48.
About BlackBerry
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Get Free ReportBlackBerry 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.
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