BlackBerry Limited (NYSE:BB) Short Interest Update

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

Wall Street Analyst Weigh In

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

BlackBerry Price Performance

BB opened at $3.08 on Tuesday. The stock has a fifty day moving average price of $2.49 and a 200 day moving average price of $2.44. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. BlackBerry has a 1 year low of $2.01 and a 1 year high of $4.36. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of -12.32 and a beta of 1.43.

BlackBerry (NYSE:BB) last announced its quarterly earnings results on Thursday, September 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.02. The business had revenue of $145.00 million during the quarter, compared to analyst estimates 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 period in the previous year, the company earned ($0.06) EPS. Analysts forecast that BlackBerry will post -0.06 EPS for the current fiscal year.

Insider Activity at BlackBerry

In other BlackBerry news, insider Philip S. Kurtz sold 15,005 shares of the business’s stock in a transaction on Saturday, September 28th. The stock was sold at an average price of $2.53, for a total transaction of $37,962.65. Following the completion of the transaction, the insider now owns 30,129 shares in the company, valued at approximately $76,226.37. The trade was a 33.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. EdgePoint Investment Group Inc. raised its position in shares of BlackBerry by 15.9% in the third quarter. EdgePoint Investment Group Inc. now owns 11,922,795 shares of the company’s stock valued at $31,238,000 after purchasing an additional 1,637,916 shares during the period. Millennium Management LLC grew its stake in BlackBerry by 5,408.9% in the 2nd quarter. Millennium Management LLC now owns 3,431,588 shares of the company’s stock valued at $8,510,000 after buying an additional 3,369,296 shares during the last quarter. Bank of Montreal Can boosted its holdings in BlackBerry by 32.7% during the second quarter. Bank of Montreal Can now owns 1,733,809 shares of the company’s stock valued at $4,300,000 after acquiring an additional 427,083 shares during the period. TD Asset Management Inc grew its position in shares of BlackBerry by 1.4% in the second quarter. TD Asset Management Inc now owns 1,496,185 shares of the company’s stock valued at $3,740,000 after purchasing an additional 21,259 shares during the last quarter. Finally, Intact Investment Management Inc. increased its stake in shares of BlackBerry by 25.7% in the third quarter. Intact Investment Management Inc. now owns 1,439,240 shares of the company’s stock worth $3,789,000 after purchasing an additional 294,250 shares during the period. 54.48% of the stock is owned by institutional investors.

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.