BlackBerry Limited (NYSE:BB) Given Average Rating of “Hold” by Brokerages

Shares of BlackBerry Limited (NYSE:BB) have earned a consensus recommendation of “Hold” from the six research firms that are covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating. The average 12-month price target among analysts that have issued a report on the stock in the last year is $4.08.

BB has been the subject of several research analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $3.00 price objective on shares of BlackBerry in a report on Thursday, April 4th. CIBC reduced their price target on BlackBerry from $4.25 to $3.50 and set a “neutral” rating on the stock in a research note on Wednesday, February 14th. StockNews.com lowered BlackBerry from a “hold” rating to a “sell” rating in a research report on Wednesday, February 21st. Finally, Robert W. Baird dropped their target price on shares of BlackBerry from $4.50 to $3.50 and set a “neutral” rating on the stock in a report on Wednesday, February 14th.

Insider Transactions at BlackBerry

In related news, Director Philip G. Brace purchased 35,000 shares of the stock in a transaction dated Wednesday, February 14th. The stock was purchased at an average price of $2.79 per share, with a total value of $97,650.00. Following the transaction, the director now directly owns 35,000 shares in the company, valued at $97,650. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.94% of the company’s stock.

Hedge Funds Weigh In On BlackBerry

A number of hedge funds have recently added to or reduced their stakes in BB. Headlands Technologies LLC increased its holdings in shares of BlackBerry by 1,938.9% in the 1st quarter. Headlands Technologies LLC now owns 334,152 shares of the company’s stock worth $922,000 after purchasing an additional 317,763 shares in the last quarter. Quantbot Technologies LP bought a new stake in BlackBerry in the 1st quarter worth about $645,000. Capstone Investment Advisors LLC purchased a new position in BlackBerry in the 1st quarter worth about $215,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in BlackBerry by 9.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,115,850 shares of the company’s stock valued at $27,920,000 after acquiring an additional 886,523 shares during the period. Finally, Maryland State Retirement & Pension System boosted its holdings in shares of BlackBerry by 1.8% during the 1st quarter. Maryland State Retirement & Pension System now owns 351,339 shares of the company’s stock valued at $989,000 after acquiring an additional 6,196 shares during the last quarter. 54.48% of the stock is currently owned by hedge funds and other institutional investors.

BlackBerry Price Performance

Shares of BB stock opened at $2.87 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.43. BlackBerry has a fifty-two week low of $2.46 and a fifty-two week high of $5.75. The firm has a market cap of $1.69 billion, a P/E ratio of -11.94 and a beta of 1.40. The business’s 50 day moving average price is $2.83 and its 200-day moving average price is $3.21.

BlackBerry (NYSE:BB) last released its quarterly earnings results on Wednesday, April 3rd. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.06. BlackBerry had a negative net margin of 15.24% and a negative return on equity of 0.24%. The business had revenue of $173.00 million for the quarter, compared to analysts’ expectations of $150.47 million. During the same quarter in the previous year, the business posted ($0.04) earnings per share. The firm’s revenue for the quarter was up 14.6% compared to the same quarter last year. On average, equities research analysts anticipate that BlackBerry will post -0.09 earnings per share for the current year.

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.