BlackBerry Limited (NYSE:BB) Short Interest Update

BlackBerry Limited (NYSE:BB) saw a significant decrease in short interest in November. As of November 15th, there was short interest totalling 24,830,000 shares, a decrease of 8.0% from the October 31st total of 26,980,000 shares. Based on an average daily volume of 8,420,000 shares, the days-to-cover ratio is currently 2.9 days. Approximately 4.3% of the shares of the stock are sold short.

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 shares were sold at an average price of $2.53, for a total transaction of $37,962.65. Following the transaction, the insider now owns 30,129 shares in the company, valued at $76,226.37. The trade was a 33.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.34% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. EP Wealth Advisors LLC purchased a new position in BlackBerry in the second quarter worth $28,000. Northwestern Mutual Wealth Management Co. raised its stake in BlackBerry by 83.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock valued at $29,000 after buying an additional 5,349 shares during the last quarter. Quantinno Capital Management LP purchased a new stake in shares of BlackBerry during the third quarter worth about $38,000. Werba Rubin Papier Wealth Management acquired a new position in shares of BlackBerry during the second quarter valued at about $43,000. Finally, Viewpoint Capital Management LLC purchased a new position in shares of BlackBerry in the 2nd quarter valued at approximately $50,000. 54.48% of the stock is owned by institutional investors.

BlackBerry Stock Down 0.6 %

NYSE:BB traded down $0.02 during mid-day trading on Tuesday, reaching $2.55. The company’s stock had a trading volume of 8,678,588 shares, compared to its average volume of 9,108,424. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.27. The stock has a fifty day moving average of $2.43 and a 200-day moving average of $2.45. BlackBerry has a 1 year low of $2.01 and a 1 year high of $4.44.

BlackBerry (NYSE:BB) last released its quarterly earnings data on Thursday, September 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. The firm had revenue of $145.00 million for the quarter, compared to the consensus estimate of $138.82 million. BlackBerry had a negative net margin of 21.66% and a negative return on equity of 3.38%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the firm earned ($0.06) earnings per share. Sell-side analysts predict that BlackBerry will post -0.06 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on BB shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $3.00 price target on shares of BlackBerry in a report on Friday, September 27th. Canaccord Genuity Group increased their price target on BlackBerry from $2.70 to $2.80 and gave the stock a “hold” rating in a report on Friday, October 18th. CIBC boosted their price objective on BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, StockNews.com lowered BlackBerry from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, BlackBerry has a consensus rating of “Hold” and an average price target of $3.23.

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.