Stock Traders Buy Large Volume of BlackBerry Call Options (NYSE:BB)

by · The Markets Daily

BlackBerry Limited (NYSE:BB – Get Free Report) was the recipient of unusually large options trading on Wednesday. Traders bought 37,012 call options on the stock. This represents an increase of 64% compared to the average daily volume of 22,568 call options.

Analyst Ratings Changes

BB has been the subject of a number of analyst reports. Cibc World Mkts upgraded BlackBerry from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 27th. Canaccord Genuity Group dropped their price objective on shares of BlackBerry from $3.25 to $2.70 and set a “hold” rating for the company in a report on Thursday, June 27th. Raymond James dropped their price objective on shares of BlackBerry from $5.50 to $4.75 and set a “market perform” rating for the company in a report on Friday, June 28th. Canaccord Genuity Group dropped their price objective on shares of BlackBerry from $3.25 to $2.70 and set a “hold” rating for the company in a report on Thursday, June 27th. Finally, CIBC raised shares of BlackBerry from a “neutral” rating to a “sector outperform” rating and set a $3.50 price objective for the company in a report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $3.20.

Get Our Latest Report on BlackBerry

Insider Transactions at BlackBerry

In other BlackBerry news, insider Philip S. Kurtz sold 15,005 shares of the stock in a transaction on Saturday, September 28th. The stock was sold at an average price of $2.53, for a total value of $37,962.65. Following the completion of the sale, the insider now owns 30,129 shares in the company, valued at approximately $76,226.37. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.34% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EP Wealth Advisors LLC purchased a new position in shares of BlackBerry during the second quarter valued at approximately $28,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of BlackBerry by 83.3% during 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 period. Werba Rubin Papier Wealth Management purchased a new position in shares of BlackBerry during the second quarter valued at approximately $43,000. Viewpoint Capital Management LLC purchased a new position in shares of BlackBerry during the second quarter valued at approximately $50,000. Finally, Creative Planning boosted its position in shares of 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 buying an additional 10,585 shares during the period. Hedge funds and other institutional investors own 54.48% of the company’s stock.

BlackBerry Trading Up 5.0 %

BB traded up $0.12 on Wednesday, hitting $2.62. The company had a trading volume of 21,192,278 shares, compared to its average volume of 9,091,461. The company has a market cap of $1.54 billion, a PE ratio of -10.56 and a beta of 1.40. BlackBerry has a 12-month low of $2.01 and a 12-month high of $4.44. 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 business’s fifty day simple moving average is $2.37 and its 200 day simple moving average is $2.57.

BlackBerry (NYSE:BB – Get Free Report) last released its quarterly earnings results on Thursday, September 26th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.02. The company had revenue of $145.00 million during the quarter, compared to analyst estimates of $138.82 million. BlackBerry had a negative return on equity of 3.38% and a negative net margin of 21.66%. The firm’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.06) earnings per share. Equities research analysts expect that BlackBerry will post -0.06 EPS for the current year.

BlackBerry Company Profile

(Get Free Report)

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.

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