BlackBerry (NYSE:BB) Shares Up 4.4%

BlackBerry Limited (NYSE:BB) shares traded up 4.4% on Monday . The company traded as high as $2.63 and last traded at $2.63. 12,432,345 shares were traded during trading, an increase of 37% from the average session volume of 9,068,258 shares. The stock had previously closed at $2.52.

Analyst Ratings Changes

A number of equities analysts recently issued reports on BB shares. CIBC raised BlackBerry from a “neutral” rating to a “sector outperform” rating and set a $3.50 price objective for the company in a report on Thursday, June 27th. Cibc World Mkts raised BlackBerry from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 27th. Robert W. Baird cut their price objective on shares of BlackBerry from $3.50 to $3.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Canaccord Genuity Group decreased their target price on shares of BlackBerry from $3.25 to $2.70 and set a “hold” rating for the company in a research report on Thursday, June 27th. Finally, Raymond James dropped their price target on shares of BlackBerry from $5.50 to $4.75 and set a “market perform” rating on the stock in a research report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $3.20.

BlackBerry Trading Up 4.0 %

The company has a debt-to-equity ratio of 0.26, a current ratio of 1.43 and a quick ratio of 1.43. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of -8.48 and a beta of 1.39. The business has a fifty day moving average of $2.35 and a 200-day moving average of $2.59.

BlackBerry (NYSE:BB) last released its earnings results on Thursday, September 26th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. The business had revenue of $145.00 million for the quarter, compared to the consensus estimate of $138.82 million. BlackBerry had a negative net margin of 25.80% and a negative return on equity of 6.43%. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.06) EPS. On average, equities analysts anticipate that BlackBerry Limited will post -0.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BlackBerry

Several hedge funds have recently modified their holdings of the stock. EP Wealth Advisors LLC purchased a new stake in shares of BlackBerry in the 2nd quarter valued at approximately $28,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of BlackBerry by 83.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock valued at $29,000 after purchasing an additional 5,349 shares in the last quarter. Werba Rubin Papier Wealth Management acquired a new stake in shares of BlackBerry in the second quarter worth $43,000. Viewpoint Capital Management LLC purchased a new position in shares of BlackBerry during the second quarter valued at $50,000. Finally, Marathon Trading Investment Management LLC purchased a new position in shares of BlackBerry during the second quarter valued at $169,000. 54.48% of the stock is owned by hedge funds and other institutional investors.

About BlackBerry

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.