BlackBerry (NYSE:BB) Sees Large Volume Increase – Still a Buy?

BlackBerry Limited (NYSE:BB) shares saw unusually-strong trading volume on Monday . Approximately 49,357,121 shares were traded during trading, an increase of 102% from the previous session’s volume of 24,431,664 shares.The stock last traded at $5.48 and had previously closed at $5.24.

Analyst Ratings Changes

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

BlackBerry Stock Up 2.2 %

The stock has a market cap of $3.19 billion, a price-to-earnings ratio of -24.34 and a beta of 1.31. The business’s 50 day moving average is $4.36 and its 200-day moving average is $3.11. 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 issued its quarterly earnings results on Thursday, December 19th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. The firm had revenue of $143.00 million for the quarter, compared to analyst estimates of $144.84 million. BlackBerry had a negative return on equity of 2.02% and a negative net margin of 21.16%. The business’s revenue was down 5.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.01 earnings per share. On average, sell-side analysts predict that BlackBerry Limited will post -0.03 EPS for the current fiscal year.

Insider Buying and Selling

In other BlackBerry news, insider Mattias Eriksson sold 12,680 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $4.00, for a total transaction of $50,720.00. Following the sale, the insider now directly owns 278,306 shares in the company, valued at $1,113,224. This represents a 4.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John Joseph Giamatteo sold 29,402 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $4.00, for a total value of $117,608.00. Following the completion of the sale, the chief executive officer now owns 490,761 shares in the company, valued at approximately $1,963,044. The trade was a 5.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 244,221 shares of company stock valued at $925,655. 0.34% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC boosted its holdings in BlackBerry by 63.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,773 shares of the company’s stock valued at $37,000 after purchasing an additional 3,811 shares in the last quarter. Quantinno Capital Management LP purchased a new stake in BlackBerry in the third quarter valued at $38,000. Masso Torrence Wealth Management Inc. acquired a new position in BlackBerry in the fourth quarter valued at $38,000. Mindset Wealth Management LLC purchased a new position in shares of BlackBerry during the fourth quarter worth about $38,000. Finally, Quadrant Capital Group LLC increased its position in shares of BlackBerry by 100.3% during the fourth quarter. Quadrant Capital Group LLC now owns 10,000 shares of the company’s stock worth $38,000 after purchasing an additional 5,008 shares in the last quarter. Hedge funds and other institutional investors own 54.48% of the company’s stock.

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.