BlackBerry (NYSE:BB) Trading Down 3.2% – Time to Sell?

BlackBerry Limited (NYSE:BB) shares dropped 3.2% during mid-day trading on Friday . The stock traded as low as $4.07 and last traded at $4.08. Approximately 3,897,596 shares were traded during trading, a decline of 78% from the average daily volume of 18,118,139 shares. The stock had previously closed at $4.21.

Wall Street Analysts Forecast Growth

BB has been the subject of several analyst reports. Robert W. Baird boosted their price target on shares of BlackBerry from $3.00 to $3.50 and gave the company a “neutral” rating in a report on Friday, December 20th. Canaccord Genuity Group upped their price objective on shares of BlackBerry from $2.80 to $3.00 and gave the stock a “hold” rating in a report on Friday, December 20th. CIBC upped 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. StockNews.com raised shares of BlackBerry from a “sell” rating to a “hold” rating in a report on Monday, December 9th. Finally, Royal Bank of Canada upped their price objective on shares of BlackBerry from $3.25 to $4.00 and gave the stock a “sector perform” rating in a report on Friday, January 10th. Six research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, BlackBerry presently has an average rating of “Moderate Buy” and an average target price of $3.69.

BlackBerry Trading Down 5.3 %

The firm’s 50-day simple moving average is $3.17 and its 200 day simple moving average is $2.66. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $2.36 billion, a P/E ratio of -18.11 and a beta of 1.30.

BlackBerry (NYSE:BB) last posted its quarterly earnings data on Thursday, December 19th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.03. The firm had revenue of $143.00 million for the quarter, compared to the consensus estimate of $144.84 million. BlackBerry had a negative return on equity of 2.02% and a negative net margin of 21.16%. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.01 EPS. Equities research analysts anticipate that BlackBerry Limited will post -0.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO John Joseph Giamatteo sold 155,815 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $3.68, for a total value of $573,399.20. Following the transaction, the chief executive officer now owns 385,552 shares in the company, valued at $1,418,831.36. This represents a 28.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mattias Eriksson sold 14,475 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $3.68, for a total value of $53,268.00. Following the completion of the transaction, the insider now owns 238,838 shares in the company, valued at $878,923.84. This represents a 5.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 219,796 shares of company stock worth $823,314. Company insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On BlackBerry

A number of large investors have recently made changes to their positions in BB. EP Wealth Advisors LLC bought a new stake in shares of BlackBerry in the 2nd quarter valued at approximately $28,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of BlackBerry by 83.3% in 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 bought a new stake in shares of BlackBerry in the 3rd quarter valued at approximately $38,000. Signaturefd LLC grew its stake in shares of BlackBerry by 65.5% in the 3rd quarter. Signaturefd LLC now owns 22,898 shares of the company’s stock valued at $60,000 after buying an additional 9,063 shares in the last quarter. Finally, Ballentine Partners LLC bought a new stake in BlackBerry during the fourth quarter worth approximately $65,000. 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.