BlackBerry Limited (NYSE:BB) Short Interest Update

BlackBerry Limited (NYSE:BB) saw a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 26,270,000 shares, an increase of 5.8% from the November 15th total of 24,830,000 shares. Based on an average daily trading volume, of 10,180,000 shares, the short-interest ratio is presently 2.6 days. Approximately 4.5% of the shares of the company are short sold.

BlackBerry Price Performance

NYSE BB opened at $2.69 on Monday. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of -10.76 and a beta of 1.43. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.44. The company has a 50 day simple moving average of $2.48 and a 200-day simple moving average of $2.44. BlackBerry has a 52-week low of $2.01 and a 52-week high of $4.44.

BlackBerry (NYSE:BB) last released its quarterly earnings data on Thursday, September 26th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. The firm had revenue of $145.00 million for the quarter, compared to the consensus estimate of $138.82 million. BlackBerry had a negative return on equity of 3.38% and a negative net margin of 21.66%. The firm’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.06) earnings per share. Equities research analysts predict that BlackBerry will post -0.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Philip S. Kurtz sold 15,005 shares of the firm’s stock in a transaction that occurred on Saturday, September 28th. The stock was sold at an average price of $2.53, for a total value of $37,962.65. Following the sale, the insider now owns 30,129 shares of the company’s stock, valued at approximately $76,226.37. This trade represents a 33.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BlackBerry

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. increased its position in BlackBerry by 83.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock worth $29,000 after buying an additional 5,349 shares during the period. Geode Capital Management LLC increased its position in BlackBerry by 2.9% during the third quarter. Geode Capital Management LLC now owns 267,073 shares of the company’s stock worth $706,000 after acquiring an additional 7,652 shares during the period. International Assets Investment Management LLC raised its stake in BlackBerry by 60.7% during the 3rd quarter. International Assets Investment Management LLC now owns 20,769 shares of the company’s stock valued at $540,000 after purchasing an additional 7,842 shares during the last quarter. Signaturefd LLC boosted its holdings in BlackBerry by 65.5% in the 3rd quarter. Signaturefd LLC now owns 22,898 shares of the company’s stock valued at $60,000 after purchasing an additional 9,063 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in BlackBerry by 7.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 130,665 shares of the company’s stock valued at $327,000 after purchasing an additional 9,156 shares during the period. 54.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BB shares. StockNews.com upgraded shares of BlackBerry from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. CIBC lifted their target price on BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Royal Bank of Canada reissued a “sector perform” rating and issued a $3.00 price target on shares of BlackBerry in a report on Friday, September 27th. Finally, Canaccord Genuity Group lifted their price objective on shares of BlackBerry from $2.70 to $2.80 and gave the stock a “hold” rating in a research note on Friday, October 18th. Seven analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $3.23.

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.