BlackBerry Limited (NYSE:BB) Receives Consensus Recommendation of “Moderate Buy” from Analysts

BlackBerry Limited (NYSE:BB) has been given a consensus rating of “Moderate Buy” by the nine analysts that are currently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $3.91.

BB has been the subject of several analyst reports. TD Cowen upgraded shares of BlackBerry from a “hold” rating to a “buy” rating and boosted their target price for the company from $3.25 to $4.00 in a research report on Friday, December 20th. StockNews.com upgraded BlackBerry from a “sell” rating to a “hold” rating in a research note on Monday, December 9th. Canaccord Genuity Group lifted their price target on BlackBerry from $3.00 to $4.75 and gave the company a “hold” rating in a research note on Tuesday, March 11th. Robert W. Baird upped their price objective on BlackBerry from $3.00 to $3.50 and gave the stock a “neutral” rating in a research report on Friday, December 20th. Finally, TD Securities upgraded BlackBerry from a “hold” rating to a “buy” rating and lifted their target price for the company from $3.25 to $4.00 in a research report on Friday, December 20th.

BlackBerry Stock Down 4.5 %

BB stock opened at $3.97 on Friday. BlackBerry has a 52 week low of $2.01 and a 52 week high of $6.24. The business has a 50-day simple moving average of $4.70 and a 200 day simple moving average of $3.46. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27. The company has a market cap of $2.36 billion, a PE ratio of -18.02 and a beta of 1.27.

Insider Buying and Selling at BlackBerry

In related news, CAO Jay P. Chai sold 24,425 shares of the business’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $4.19, for a total value of $102,340.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John Joseph Giamatteo sold 155,815 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $3.68, for a total value of $573,399.20. Following the transaction, the chief executive officer now directly owns 385,552 shares of the company’s stock, valued at approximately $1,418,831.36. This represents a 28.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 244,221 shares of company stock worth $925,655. 0.34% of the stock is currently owned by insiders.

Institutional Trading of BlackBerry

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BB. Tower Research Capital LLC TRC boosted its position in BlackBerry by 63.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,773 shares of the company’s stock worth $37,000 after purchasing an additional 3,811 shares during the last quarter. Quantinno Capital Management LP bought a new stake in shares of BlackBerry during the 3rd quarter worth $38,000. Masso Torrence Wealth Management Inc. purchased a new position in shares of BlackBerry in the 4th quarter worth about $38,000. Mindset Wealth Management LLC bought a new position in BlackBerry during the fourth quarter valued at about $38,000. Finally, Quadrant Capital Group LLC increased its holdings in BlackBerry by 100.3% during the fourth quarter. Quadrant Capital Group LLC now owns 10,000 shares of the company’s stock worth $38,000 after buying an additional 5,008 shares during the last quarter. 54.48% of the stock is owned by 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.