BlackBerry (NYSE:BB) Shares Gap Up to $2.79

BlackBerry Limited (NYSE:BBGet Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $2.79, but opened at $2.92. BlackBerry shares last traded at $2.87, with a volume of 2,331,168 shares traded.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BB. Robert W. Baird cut their price target on shares of BlackBerry from $4.50 to $3.50 and set a “neutral” rating on the stock in a research report on Wednesday, February 14th. StockNews.com cut shares of BlackBerry from a “hold” rating to a “sell” rating in a research report on Wednesday, February 21st. CIBC lowered their price objective on shares of BlackBerry from $4.25 to $3.50 and set a “neutral” rating for the company in a research report on Wednesday, February 14th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $3.00 target price on shares of BlackBerry in a report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $4.08.

Read Our Latest Research Report on BB

BlackBerry Stock Performance

The company has a 50 day simple moving average of $2.89 and a 200-day simple moving average of $3.11. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.25.

BlackBerry (NYSE:BBGet Free Report) last released its earnings results on Wednesday, April 3rd. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.06. The firm had revenue of $173.00 million for the quarter, compared to analysts’ expectations of $150.47 million. BlackBerry had a negative return on equity of 0.24% and a negative net margin of 15.24%. The business’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.04) EPS. On average, analysts expect that BlackBerry Limited will post -0.09 EPS for the current fiscal year.

Institutional Investors Weigh In On BlackBerry

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Highlander Capital Management LLC increased its position in shares of BlackBerry by 77.8% during the 4th quarter. Highlander Capital Management LLC now owns 8,000 shares of the company’s stock worth $28,000 after purchasing an additional 3,500 shares during the last quarter. Duality Advisers LP raised its position in BlackBerry by 4.1% during the fourth quarter. Duality Advisers LP now owns 97,086 shares of the company’s stock worth $344,000 after acquiring an additional 3,837 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in BlackBerry by 6.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 65,535 shares of the company’s stock valued at $232,000 after acquiring an additional 3,958 shares during the last quarter. Rathbones Group PLC grew its position in shares of BlackBerry by 52.0% in the 3rd quarter. Rathbones Group PLC now owns 15,196 shares of the company’s stock valued at $72,000 after acquiring an additional 5,196 shares during the period. Finally, Optiver Holding B.V. acquired a new position in shares of BlackBerry during the 3rd quarter worth about $25,000. 54.48% of the stock is currently owned by institutional investors and hedge funds.

About BlackBerry

(Get Free Report)

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.

Further Reading

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