BlackBerry Limited (NYSE:BB) Short Interest Down 8.0% in November

by · The Markets Daily

BlackBerry Limited (NYSE:BB – Get Free Report) was the target of a large decrease in short interest in November. As of November 15th, there was short interest totalling 24,830,000 shares, a decrease of 8.0% from the October 31st total of 26,980,000 shares. Based on an average daily volume of 8,420,000 shares, the short-interest ratio is presently 2.9 days. Approximately 4.3% of the company’s stock are short sold.

BlackBerry Price Performance

NYSE BB traded down $0.01 on Monday, hitting $2.56. The stock had a trading volume of 11,224,155 shares, compared to its average volume of 9,109,149. BlackBerry has a 52-week low of $2.01 and a 52-week high of $4.44. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.44. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of -10.28 and a beta of 1.42. The firm has a 50-day moving average of $2.43 and a 200-day moving average of $2.46.

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

Wall Street Analysts Forecast Growth

BB has been the subject of several analyst reports. Canaccord Genuity Group raised their price objective on shares of BlackBerry from $2.70 to $2.80 and gave the stock a “hold” rating in a report on Friday, October 18th. StockNews.com downgraded shares of BlackBerry from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $3.00 price objective on shares of BlackBerry in a report on Friday, September 27th. Finally, CIBC raised their price objective on shares of BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, BlackBerry presently has an average rating of “Hold” and an average price target of $3.23.

Read Our Latest Report on BlackBerry

Insiders Place Their Bets

In other news, insider Philip S. Kurtz sold 15,005 shares of the stock in a transaction that occurred on Saturday, September 28th. The shares were sold at an average price of $2.53, for a total transaction of $37,962.65. Following the completion of the transaction, the insider now directly owns 30,129 shares of the company’s stock, valued at $76,226.37. This represents a 33.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is currently owned by insiders.

Institutional Trading of BlackBerry

Institutional investors and hedge funds have recently made changes to their positions in the stock. EP Wealth Advisors LLC purchased a new stake in shares of BlackBerry during the 2nd quarter valued at $28,000. Northwestern Mutual Wealth Management Co. raised its position in shares of BlackBerry by 83.3% during the 2nd 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 in the last quarter. Quantinno Capital Management LP purchased a new stake in shares of BlackBerry during the 3rd quarter valued at $38,000. Werba Rubin Papier Wealth Management bought a new position in shares of BlackBerry during the 2nd quarter valued at $43,000. Finally, Viewpoint Capital Management LLC bought a new position in shares of BlackBerry during the 2nd quarter valued at $50,000. Hedge funds and other institutional investors own 54.48% of the company’s stock.

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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