BlackBerry (NYSE:BB) Trading Down 4.5% – What’s Next?

Shares of BlackBerry Limited (NYSE:BB) fell 4.5% on Friday . The company traded as low as $3.64 and last traded at $3.65. 8,991,507 shares changed 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.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Royal Bank of Canada boosted their price objective on BlackBerry from $3.00 to $3.25 and gave the stock a “sector perform” rating in a report on Tuesday, December 17th. Canaccord Genuity Group boosted their price target on shares of BlackBerry from $2.80 to $3.00 and gave the stock a “hold” rating in a research note on Friday, December 20th. TD Securities raised shares of BlackBerry from a “hold” rating to a “buy” rating and raised their price objective for the company from $3.25 to $4.00 in a research note on Friday, December 20th. Robert W. Baird upped their target price on shares of BlackBerry from $3.00 to $3.50 and gave the company a “neutral” rating in a research report on Friday, December 20th. Finally, StockNews.com upgraded BlackBerry from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. Six investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, BlackBerry presently has a consensus rating of “Moderate Buy” and an average price target of $3.60.

BlackBerry Stock Down 3.7 %

The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. The firm’s fifty day moving average price is $2.82 and its 200-day moving average price is $2.54. The company has a market cap of $2.18 billion, a price-to-earnings ratio of -14.72 and a beta of 1.30.

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 return on equity of 3.38% and a negative net margin of 21.66%. The firm had revenue of $143.00 million for the quarter, compared to analyst estimates of $144.84 million. During the same period in the previous year, the company posted $0.01 earnings per share. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. Sell-side analysts predict that BlackBerry Limited will post -0.06 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC lifted its holdings in shares of BlackBerry by 60.2% in the third quarter. Barclays PLC now owns 249,218 shares of the company’s stock valued at $652,000 after purchasing an additional 93,651 shares in the last quarter. Toronto Dominion Bank lifted its stake in BlackBerry by 5.3% in the 3rd quarter. Toronto Dominion Bank now owns 718,314 shares of the company’s stock valued at $1,882,000 after acquiring an additional 36,372 shares in the last quarter. Geode Capital Management LLC boosted its position in BlackBerry by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 267,073 shares of the company’s stock worth $706,000 after acquiring an additional 7,652 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in BlackBerry during the 3rd quarter worth approximately $410,000. Finally, Orion Portfolio Solutions LLC raised its holdings in shares of BlackBerry by 121.1% in the third quarter. Orion Portfolio Solutions LLC now owns 37,916 shares of the company’s stock valued at $99,000 after purchasing an additional 20,771 shares during the last quarter. 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.