BlackBerry Limited (NYSE:BB) Short Interest Down 6.1% in January

BlackBerry Limited (NYSE:BB) saw a significant decrease in short interest in January. As of January 31st, there was short interest totalling 28,690,000 shares, a decrease of 6.1% from the January 15th total of 30,540,000 shares. Approximately 4.9% of the company’s shares are sold short. Based on an average daily trading volume, of 17,640,000 shares, the short-interest ratio is currently 1.6 days.

BlackBerry Stock Down 4.0 %

BB opened at $5.68 on Tuesday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27. BlackBerry has a 1-year low of $2.01 and a 1-year high of $6.00. The company has a market capitalization of $3.36 billion, a PE ratio of -25.80 and a beta of 1.31. The firm’s 50 day simple moving average is $4.13 and its two-hundred day simple moving average is $3.01.

BlackBerry (NYSE:BB) last released its quarterly earnings results on Thursday, December 19th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.03. The business had revenue of $143.00 million for the quarter, compared to the consensus estimate of $144.84 million. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. The company’s quarterly revenue was down 5.9% on a year-over-year basis. During the same period last year, the firm earned $0.01 earnings per share. As a group, equities analysts forecast that BlackBerry will post -0.03 EPS for the current year.

Insider Buying and Selling

In other BlackBerry news, insider Mattias Eriksson sold 12,680 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $4.00, for a total transaction of $50,720.00. Following the completion of the transaction, the insider now owns 278,306 shares of the company’s stock, valued at approximately $1,113,224. This trade represents a 4.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 shares were 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 a total of 244,221 shares of company stock valued at $925,655 over the last three months. Corporate insiders own 0.34% of the company’s stock.

Institutional Trading of BlackBerry

Several institutional investors and hedge funds have recently modified their holdings of BB. Creative Planning raised its position in shares of BlackBerry by 40.8% during the 3rd quarter. Creative Planning now owns 36,551 shares of the company’s stock valued at $96,000 after purchasing an additional 10,585 shares during the period. Signaturefd LLC increased 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 acquiring an additional 9,063 shares during the last quarter. International Assets Investment Management LLC increased its holdings in BlackBerry by 60.7% in the 3rd quarter. International Assets Investment Management LLC now owns 20,769 shares of the company’s stock valued at $540,000 after acquiring an additional 7,842 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in BlackBerry by 9.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 412,782 shares of the company’s stock valued at $1,040,000 after acquiring an additional 34,295 shares during the last quarter. Finally, Intact Investment Management Inc. increased its holdings in BlackBerry by 25.7% in the 3rd quarter. Intact Investment Management Inc. now owns 1,439,240 shares of the company’s stock valued at $3,789,000 after acquiring an additional 294,250 shares during the last quarter. 54.48% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. TD Cowen upgraded shares of BlackBerry from a “hold” rating to a “buy” rating and increased their price target for the company from $3.25 to $4.00 in a report on Friday, December 20th. Royal Bank of Canada raised their target price on shares of BlackBerry from $3.25 to $4.00 and gave the stock a “sector perform” rating in a report on Friday, January 10th. Canaccord Genuity Group raised their target price on shares of BlackBerry from $2.80 to $3.00 and gave the stock a “hold” rating in a report on Friday, December 20th. StockNews.com upgraded shares of BlackBerry from a “sell” rating to a “hold” rating in a report on Monday, December 9th. Finally, Robert W. Baird raised their target price on shares of BlackBerry from $3.00 to $3.50 and gave the stock a “neutral” rating in a report on Friday, December 20th. Six investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, BlackBerry has a consensus rating of “Moderate Buy” and an average price target of $3.69.

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.