BlackBerry Ltd. (NASDAQ:BBRY) was the target of a large growth in short interest in August. As of August 31st, there was short interest totalling 57,177,288 shares, a growth of 5.5% from the August 15th total of 54,172,075 shares. Approximately 11.0% of the shares of the company are sold short. Based on an average daily volume of 3,152,693 shares, the days-to-cover ratio is currently 18.1 days.

Shares of BlackBerry (NASDAQ:BBRY) opened at 7.55 on Wednesday. BlackBerry has a one year low of $5.96 and a one year high of $9.46. The company’s market capitalization is $3.95 billion. The company’s 50 day moving average is $7.77 and its 200 day moving average is $7.30.

A number of institutional investors have recently modified their holdings of BBRY. Ladenburg Thalmann Financial Services Inc. raised its position in shares of BlackBerry by 3.0% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 67,596 shares of the smartphone producer’s stock worth $545,000 after buying an additional 1,959 shares in the last quarter. A.R.T. Advisors LLC raised its position in shares of BlackBerry by 46.0% in the first quarter. A.R.T. Advisors LLC now owns 441,505 shares of the smartphone producer’s stock worth $3,571,000 after buying an additional 139,200 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of BlackBerry by 11.9% in the first quarter. Renaissance Technologies LLC now owns 14,766,100 shares of the smartphone producer’s stock worth $119,473,000 after buying an additional 1,575,300 shares in the last quarter. Primecap Management Co. CA raised its position in shares of BlackBerry by 1.8% in the first quarter. Primecap Management Co. CA now owns 76,097,907 shares of the smartphone producer’s stock worth $615,632,000 after buying an additional 1,371,800 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp raised its position in shares of BlackBerry by 12.0% in the first quarter. OMERS ADMINISTRATION Corp now owns 74,400 shares of the smartphone producer’s stock worth $602,000 after buying an additional 8,000 shares in the last quarter. Hedge funds and other institutional investors own 58.37% of the company’s stock.

Several analysts have weighed in on BBRY shares. Wells Fargo & Co. reiterated a “positive” rating and issued a $7.62 price objective on shares of BlackBerry in a research note on Tuesday, August 30th. Vetr cut shares of BlackBerry from a “strong-buy” rating to a “buy” rating and set a $8.00 price objective for the company. in a research note on Wednesday, May 25th. Zacks Investment Research cut shares of BlackBerry from a “buy” rating to a “hold” rating in a research note on Wednesday, July 20th. Imperial Capital dropped their price objective on shares of BlackBerry from $7.50 to $7.00 and set an “in-line” rating for the company in a research note on Thursday, June 16th. Finally, MKM Partners dropped their price objective on shares of BlackBerry from $8.50 to $7.50 and set a “neutral” rating for the company in a research note on Friday, June 24th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $7.58.

BlackBerry Company Profile

BlackBerry Limited (BlackBerry) provides mobile communications solutions. The Company is engaged in the sale of smartphones and enterprise software and services. The Company’s products and services include Enterprise Solutions and Services, Devices, BlackBerry Technology Solutions and Messaging. It is engaged in providing enterprise mobility management (EMM) and mobile security, and offers a portfolio of enterprise software solutions and services that can be deployed across a range of ecosystems and devices, including BlackBerry Enterprise Service (BES) 12 and Good Platforms, BES12 Cloud, enterprise file-sync-and-share (EFSS), SecuSUITE for Enterprise, Enhanced subscriber identity module (SIM)-Based Licensing (ESBL), WorkLife by BlackBerry solution and Professional Cybersecurity Services.

5 Day Chart for NASDAQ:BBRY

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