BlackBerry (NYSE:BB) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of BlackBerry (NYSE:BB) from a hold rating to a sell rating in a report issued on Wednesday.

Several other research firms also recently commented on BB. TD Cowen upgraded shares of 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 report on Friday, December 20th. Canaccord Genuity Group raised their price objective on shares of BlackBerry from $3.00 to $4.75 and gave the company a “hold” rating in a research report on Tuesday, March 11th. Royal Bank of Canada reissued a “sector perform” rating and set a $4.00 target price on shares of BlackBerry in a research note on Tuesday. Robert W. Baird boosted their target price on shares of BlackBerry from $3.00 to $3.50 and gave the stock a “neutral” rating in a research report on Friday, December 20th. Finally, TD Securities raised BlackBerry from a “hold” rating to a “buy” rating and boosted their price target for the stock from $3.25 to $4.00 in a research note on Friday, December 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $4.15.

BlackBerry Stock Performance

Shares of BlackBerry stock opened at $3.01 on Wednesday. The business’s 50 day moving average price is $4.63 and its 200 day moving average price is $3.51. BlackBerry has a one year low of $2.01 and a one year high of $6.24. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.37 and a current ratio of 1.37. The company has a market cap of $1.79 billion, a price-to-earnings ratio of -13.66 and a beta of 1.30.

BlackBerry (NYSE:BB) last released its earnings results on Wednesday, April 2nd. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. The company had revenue of $141.70 million during the quarter, compared to the consensus estimate of $137.56 million. BlackBerry had a negative return on equity of 2.02% and a negative net margin of 21.16%. BlackBerry’s revenue was down 7.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.03 EPS. On average, research analysts predict that BlackBerry will post -0.03 EPS for the current year.

Insider Activity at BlackBerry

In related news, CEO John Joseph Giamatteo sold 29,402 shares of BlackBerry stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $4.00, for a total value of $117,608.00. Following the completion of the transaction, the chief executive officer now directly owns 490,761 shares of the company’s stock, valued at $1,963,044. The trade was a 5.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value of $50,720.00. Following the sale, the insider now owns 278,306 shares of the company’s stock, valued at approximately $1,113,224. The trade was a 4.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,388 shares of company stock worth $288,882 over the last three months. Company insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Mackenzie Financial Corp increased its position in BlackBerry by 3.8% during the fourth quarter. Mackenzie Financial Corp now owns 353,306 shares of the company’s stock worth $1,341,000 after buying an additional 13,089 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of BlackBerry by 3.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 813,155 shares of the company’s stock valued at $3,074,000 after acquiring an additional 26,129 shares in the last quarter. Vident Advisory LLC acquired a new stake in BlackBerry in the 4th quarter worth about $2,938,000. Two Sigma Advisers LP grew its position in shares of BlackBerry by 105.2% during the 4th quarter. Two Sigma Advisers LP now owns 920,458 shares of the company’s stock worth $3,479,000 after purchasing an additional 471,800 shares in the last quarter. Finally, Two Sigma Investments LP increased its holdings in shares of BlackBerry by 293.7% during the fourth quarter. Two Sigma Investments LP now owns 4,552,129 shares of the company’s stock worth $17,207,000 after purchasing an additional 3,395,786 shares during the period. Institutional investors and hedge funds own 54.48% of the company’s stock.

BlackBerry Company Profile

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.