Short Interest in BlackBerry Limited (NYSE:BB) Grows By 10.6%

BlackBerry Limited (NYSE:BB) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 47,870,000 shares, an increase of 10.6% from the March 15th total of 43,290,000 shares. Based on an average trading volume of 10,050,000 shares, the short-interest ratio is currently 4.8 days. Currently, 8.3% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

BB has been the topic of several analyst reports. Robert W. Baird decreased their price target on shares of BlackBerry from $4.50 to $3.50 and set a “neutral” rating on the stock in a research note on Wednesday, February 14th. Canaccord Genuity Group decreased their price target on shares of BlackBerry from $5.00 to $4.25 and set a “hold” rating on the stock in a research note on Thursday, December 21st. TD Securities decreased their target price on shares of BlackBerry from $4.00 to $3.75 and set a “hold” rating on the stock in a research report on Thursday, December 21st. CIBC decreased their target price on shares of BlackBerry from $4.25 to $3.50 and set a “neutral” rating on the stock in a research report on Wednesday, February 14th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $3.00 target price on shares of BlackBerry in a research report on Thursday, April 4th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat.com, BlackBerry has a consensus rating of “Hold” and an average target price of $4.08.

Insider Activity at BlackBerry

In other BlackBerry news, Director Philip G. Brace acquired 35,000 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were purchased at an average cost of $2.79 per share, with a total value of $97,650.00. Following the purchase, the director now owns 35,000 shares in the company, valued at $97,650. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.94% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Optiver Holding B.V. acquired a new position in BlackBerry in the third quarter worth $25,000. GHP Investment Advisors Inc. acquired a new position in shares of BlackBerry during the third quarter valued at $28,000. Highlander Capital Management LLC boosted its holdings in shares of BlackBerry by 77.8% during the fourth quarter. Highlander Capital Management LLC now owns 8,000 shares of the company’s stock valued at $28,000 after acquiring an additional 3,500 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of BlackBerry by 470.1% during the third quarter. Tower Research Capital LLC TRC now owns 9,019 shares of the company’s stock valued at $43,000 after acquiring an additional 7,437 shares during the period. Finally, Clear Street Markets LLC acquired a new position in shares of BlackBerry during the third quarter valued at $48,000. Hedge funds and other institutional investors own 54.48% of the company’s stock.

BlackBerry Price Performance

BB opened at $3.05 on Monday. BlackBerry has a 1 year low of $2.46 and a 1 year high of $5.75. The company’s 50 day simple moving average is $2.79 and its 200 day simple moving average is $3.33. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.43 and a quick ratio of 1.43.

BlackBerry (NYSE:BB) last posted its quarterly earnings results on Wednesday, April 3rd. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.06. BlackBerry had a negative net margin of 15.24% and a negative return on equity of 0.24%. The firm had revenue of $173.00 million for the quarter, compared to analyst estimates of $150.47 million. During the same quarter last year, the firm posted ($0.04) earnings per share. BlackBerry’s revenue for the quarter was up 14.6% compared to the same quarter last year. On average, equities analysts forecast that BlackBerry will post -0.09 EPS for the current year.

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 CylancePROTECT, an endpoint protection platform and mobile threat defense solution; CylanceOPTICS, an endpoint detection and response solution; CylanceGUARD, a managed detection and response solution; CylanceGATEWAY, an AI-empowered zero-trust network access solution; CylancePERSONA, a user and entity behavior analytics solution; BlackBerry unified endpoint management, a central software component for secure communications platform; BlackBerry Dynamics, a development platform and secure container for mobile applications; and BlackBerry Workspaces solutions.