Short Interest in BlackBerry Limited (NYSE:BB) Decreases By 6.1%

BlackBerry Limited (NYSE:BB) was the target of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 28,690,000 shares, a drop of 6.1% from the January 15th total of 30,540,000 shares. Approximately 4.9% of the shares of the stock are short sold. Based on an average trading volume of 17,640,000 shares, the short-interest ratio is currently 1.6 days.

Analyst Ratings Changes

BB has been the subject of a number of recent analyst reports. Robert W. Baird upped their price target on shares of BlackBerry from $3.00 to $3.50 and gave the company a “neutral” rating in a report on Friday, December 20th. TD Securities upgraded shares of BlackBerry from a “hold” rating to a “buy” rating and increased their target price for the stock from $3.25 to $4.00 in a report on Friday, December 20th. Canaccord Genuity Group boosted their price target on BlackBerry from $2.80 to $3.00 and gave the company a “hold” rating in a report on Friday, December 20th. StockNews.com upgraded BlackBerry from a “sell” rating to a “hold” rating in a report on Monday, December 9th. Finally, TD Cowen upgraded BlackBerry from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $3.25 to $4.00 in a research report on Friday, December 20th. Six research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $3.69.

Insider Buying and Selling at BlackBerry

In related news, CAO Jay P. Chai sold 24,425 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $4.19, for a total transaction of $102,340.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John Joseph Giamatteo sold 155,815 shares of the firm’s stock in a transaction that occurred 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 owns 385,552 shares in the company, valued at approximately $1,418,831.36. The trade was a 28.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 244,221 shares of company stock worth $925,655 over the last ninety days. Insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On BlackBerry

Hedge funds and other institutional investors have recently made changes to their positions in the business. Creative Planning lifted its position in BlackBerry by 40.8% during the third quarter. Creative Planning now owns 36,551 shares of the company’s stock valued at $96,000 after purchasing an additional 10,585 shares in the last quarter. Signaturefd LLC raised its stake in shares of BlackBerry by 65.5% in the third quarter. Signaturefd LLC now owns 22,898 shares of the company’s stock worth $60,000 after buying an additional 9,063 shares during the period. International Assets Investment Management LLC lifted its position in shares of BlackBerry by 60.7% during the 3rd quarter. International Assets Investment Management LLC now owns 20,769 shares of the company’s stock valued at $540,000 after buying an additional 7,842 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of BlackBerry by 9.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 412,782 shares of the company’s stock valued at $1,040,000 after acquiring an additional 34,295 shares during the period. Finally, Intact Investment Management Inc. increased its holdings in BlackBerry by 25.7% in the 3rd quarter. Intact Investment Management Inc. now owns 1,439,240 shares of the company’s stock worth $3,789,000 after acquiring an additional 294,250 shares in the last quarter. Hedge funds and other institutional investors own 54.48% of the company’s stock.

BlackBerry Trading Up 6.8 %

BB opened at $6.08 on Wednesday. The business has a 50 day moving average of $4.13 and a 200-day moving average of $3.01. BlackBerry has a 52 week low of $2.01 and a 52 week high of $6.24. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.37 and a current ratio of 1.37.

BlackBerry (NYSE:BB) last announced its earnings results on Thursday, December 19th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. The firm had revenue of $143.00 million for the quarter, compared to analysts’ expectations of $144.84 million. During the same quarter in the previous year, the business posted $0.01 EPS. The company’s quarterly revenue was down 5.9% on a year-over-year basis. As a group, research analysts predict that BlackBerry will post -0.03 earnings per share for the current fiscal 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.