BlackBerry (NYSE:BB) Trading 7% Higher – Should You Buy?

BlackBerry Limited (NYSE:BB)’s share price was up 7% during mid-day trading on Tuesday . The stock traded as high as $4.38 and last traded at $4.38. Approximately 13,983,184 shares traded hands during trading, a decline of 24% from the average daily volume of 18,352,430 shares. The stock had previously closed at $4.09.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. TD Securities raised BlackBerry from a “hold” rating to a “buy” rating and upped their price target for the company from $3.25 to $4.00 in a research note on Friday, December 20th. Royal Bank of Canada boosted their price target on shares of BlackBerry from $3.25 to $4.00 and gave the company a “sector perform” rating in a research note on Friday, January 10th. StockNews.com raised shares of BlackBerry from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. Robert W. Baird boosted 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. Finally, TD Cowen upgraded 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. Six research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $3.69.

BlackBerry Trading Up 1.3 %

The business’s 50-day moving average price is $3.50 and its 200-day moving average price is $2.77. The firm has a market capitalization of $2.60 billion, a PE ratio of -19.98 and a beta of 1.30. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.37 and a quick ratio of 1.37.

BlackBerry (NYSE:BB) last announced 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. The business had revenue of $143.00 million during the quarter, compared to the consensus estimate of $144.84 million. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.01 earnings per share. As a group, analysts expect that BlackBerry Limited will post -0.03 earnings per share for the current fiscal year.

Insider Transactions at BlackBerry

In other BlackBerry news, insider Mattias Eriksson sold 12,680 shares of the business’s stock in a transaction on Monday, January 6th. The stock was 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 approximately $1,113,224. The trade was a 4.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 on Thursday, January 2nd. The shares were sold at an average price of $3.68, for a total value of $573,399.20. Following the completion of the transaction, the chief executive officer now owns 385,552 shares of the company’s stock, valued at approximately $1,418,831.36. This represents a 28.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 244,221 shares of company stock worth $925,655 over the last ninety days. 0.34% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BlackBerry

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Masso Torrence Wealth Management Inc. acquired a new stake in BlackBerry during the fourth quarter worth approximately $38,000. EP Wealth Advisors LLC purchased a new position in BlackBerry during the second quarter worth about $28,000. Northwestern Mutual Wealth Management Co. boosted 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 during the last quarter. Palacios Wealth Management LLC purchased a new stake in BlackBerry in the 4th quarter valued at about $50,000. Finally, Quantinno Capital Management LP acquired a new position in shares of BlackBerry during the 3rd quarter valued at about $38,000. 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.