BlackBerry Target of Unusually High Options Trading (NYSE:BB)

BlackBerry Limited (NYSE:BB) saw some unusual options trading activity on Thursday. Stock investors acquired 18,087 put options on the stock. This is an increase of 14% compared to the typical daily volume of 15,922 put options.

Analyst Ratings Changes

BB has been the topic of several recent analyst reports. Canaccord Genuity Group cut their target price on shares of BlackBerry from $5.37 to $5.00 and set a “hold” rating on the stock in a report on Thursday, August 24th. Robert W. Baird lifted their price target on BlackBerry from $5.50 to $6.00 and gave the stock a “neutral” rating in a research report on Tuesday. 3M reaffirmed a “maintains” rating on shares of BlackBerry in a research report on Thursday, May 18th. TD Securities lifted their price objective on BlackBerry from $4.00 to $5.00 and gave the stock a “hold” rating in a report on Friday, June 30th. Finally, CIBC upgraded BlackBerry from a “sector underperform” rating to a “neutral” rating and lifted their price objective for the stock from $4.20 to $6.50 in a report on Thursday, May 18th. Seven equities research analysts have rated the stock with a hold rating, According to MarketBeat, BlackBerry has an average rating of “Hold” and an average price target of $5.57.

BlackBerry Stock Performance

BlackBerry stock opened at $5.56 on Friday. The stock has a 50-day moving average of $4.83 and a two-hundred day moving average of $4.73. BlackBerry has a one year low of $3.17 and a one year high of $6.26. The stock has a market cap of $3.25 billion, a PE ratio of -5.30 and a beta of 1.54.

BlackBerry (NYSE:BB) last announced its quarterly earnings data on Wednesday, June 28th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.10. The firm had revenue of $373.00 million during the quarter, compared to analysts’ expectations of $159.36 million. BlackBerry had a negative return on equity of 6.39% and a negative net margin of 65.50%.

Insider Activity

In related news, insider Mattias Eriksson sold 11,126 shares of BlackBerry stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $5.56, for a total transaction of $61,860.56. Following the sale, the insider now directly owns 64,721 shares in the company, valued at approximately $359,848.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.94% of the company’s stock.

Institutional Trading of BlackBerry

Institutional investors have recently bought and sold shares of the business. Hollow Brook Wealth Management LLC acquired a new stake in BlackBerry in the fourth quarter valued at approximately $47,000. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its position in BlackBerry by 21.1% during the fourth quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 539,545 shares of the company’s stock worth $1,759,000 after buying an additional 94,175 shares in the last quarter. Parametrica Management Ltd purchased a new position in BlackBerry during the fourth quarter worth approximately $43,000. Kovack Advisors Inc. lifted its position in BlackBerry by 99.6% during the fourth quarter. Kovack Advisors Inc. now owns 267,070 shares of the company’s stock worth $871,000 after buying an additional 133,300 shares in the last quarter. Finally, Citigroup Inc. raised its position in BlackBerry by 3.0% in the fourth quarter. Citigroup Inc. now owns 209,498 shares of the company’s stock valued at $682,000 after purchasing an additional 6,041 shares during the period. 42.66% of the stock is owned by institutional investors and hedge funds.

BlackBerry Company Profile

BlackBerry Ltd. engages in providing intelligent security software and services to enterprises and governments. The firm leverages artificial intelligence and machine learning to deliver solutions in the areas of cyber security, safety, and data privacy solutions, and also focuses on the areas of endpoint security, endpoint management, encryption, and embedded systems.