BlackBerry (NYSE:BB) Stock Rating Upgraded by StockNews.com

BlackBerry (NYSE:BB) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Friday.

BB has been the subject of a number of other reports. Canaccord Genuity Group lowered their price target on BlackBerry from $4.75 to $4.25 and set a “hold” rating for the company in a report on Thursday, April 3rd. TD Securities raised shares of BlackBerry from a “hold” rating to a “buy” rating and boosted their price objective for the company from $3.25 to $4.00 in a research report on Friday, December 20th. TD Cowen 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. Royal Bank of Canada set a $3.75 price target on BlackBerry in a report on Thursday, April 3rd. Finally, Robert W. Baird increased their target price on BlackBerry from $3.00 to $3.50 and gave the stock a “neutral” rating in a research report on Friday, December 20th. Six analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $4.12.

BlackBerry Trading Up 0.8 %

NYSE:BB opened at $3.17 on Friday. BlackBerry has a 12 month low of $2.01 and a 12 month high of $6.24. The business’s 50-day moving average is $4.45 and its two-hundred day moving average is $3.54. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a market capitalization of $1.89 billion, a PE ratio of -14.39 and a beta of 1.30.

BlackBerry (NYSE:BB) last released its quarterly earnings results on Wednesday, April 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. The firm had revenue of $141.70 million for the quarter, compared to the consensus estimate of $137.56 million. During the same quarter in the previous year, the firm posted $0.03 EPS. The firm’s quarterly revenue was down 7.3% on a year-over-year basis. Research analysts predict that BlackBerry will post -0.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Jennifer Armstrong-Owen sold 29,940 shares of BlackBerry stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $2.99, for a total value of $89,520.60. Following the transaction, the senior vice president now owns 42,398 shares of the company’s stock, valued at $126,770.02. The trade was a 41.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Jay P. Chai sold 24,425 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $4.19, for a total transaction of $102,340.75. The disclosure for this sale can be found here. Insiders sold 61,641 shares of company stock worth $214,365 over the last ninety days. Company insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake in BlackBerry by 1.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,212,230 shares of the company’s stock worth $3,194,000 after purchasing an additional 11,899 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of BlackBerry by 7.6% in the third quarter. BNP Paribas Financial Markets now owns 163,531 shares of the company’s stock valued at $428,000 after purchasing an additional 11,488 shares in the last quarter. Quantinno Capital Management LP acquired a new stake in shares of BlackBerry in the third quarter worth $38,000. State Street Corp grew its holdings in shares of BlackBerry by 1.9% during the third quarter. State Street Corp now owns 1,309,606 shares of the company’s stock valued at $3,431,000 after buying an additional 24,309 shares in the last quarter. Finally, XTX Topco Ltd raised its position in BlackBerry by 25.8% during the third quarter. XTX Topco Ltd now owns 200,778 shares of the company’s stock valued at $526,000 after buying an additional 41,193 shares during the period. 54.48% of the stock is currently owned by institutional investors and hedge funds.

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.