BlackBerry (NYSE:BB) Shares Down 4.5% – Time to Sell?

BlackBerry Limited (NYSE:BB) traded down 4.5% during mid-day trading on Friday . The company traded as low as $3.64 and last traded at $3.65. 8,991,507 shares traded hands during trading, a decline of 33% from the average session volume of 13,513,541 shares. The stock had previously closed at $3.82.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Canaccord Genuity Group boosted their target price on shares of BlackBerry from $2.80 to $3.00 and gave the stock a “hold” rating in a research report on Friday, December 20th. TD Cowen raised 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. Robert W. Baird lifted their target price on BlackBerry from $3.00 to $3.50 and gave the company a “neutral” rating in a research report on Friday, December 20th. CIBC increased their price target on BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, StockNews.com raised shares of BlackBerry from a “sell” rating to a “hold” rating in a report on Monday, December 9th. Six equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $3.60.

BlackBerry Price Performance

The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market cap of $2.17 billion, a PE ratio of -14.64 and a beta of 1.43. The business’s fifty day moving average is $2.80 and its 200-day moving average is $2.53.

BlackBerry (NYSE:BB) last posted its earnings results on Thursday, December 19th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.03. BlackBerry had a negative net margin of 21.66% and a negative return on equity of 3.38%. The firm had revenue of $143.00 million during the quarter, compared to the consensus estimate of $144.84 million. During the same quarter last year, the company earned $0.01 earnings per share. The company’s revenue was down 5.9% on a year-over-year basis. On average, research analysts predict that BlackBerry Limited will post -0.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BlackBerry

Institutional investors and hedge funds have recently made changes to their positions in the business. EP Wealth Advisors LLC bought a new stake in shares of BlackBerry during the 2nd quarter valued at about $28,000. Northwestern Mutual Wealth Management Co. grew its stake in BlackBerry by 83.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock worth $29,000 after buying an additional 5,349 shares in the last quarter. Quantinno Capital Management LP bought a new position in shares of BlackBerry in the 3rd quarter worth $38,000. Werba Rubin Papier Wealth Management bought a new position in shares of BlackBerry in the 2nd quarter worth $43,000. Finally, International Assets Investment Management LLC raised 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. 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.