BlackBerry Limited (NYSE:BB – Get Rating)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $3.99, but opened at $3.73. BlackBerry shares last traded at $3.53, with a volume of 3,276,905 shares traded.
Analysts Set New Price Targets
Several analysts have weighed in on BB shares. Raymond James dropped their price objective on BlackBerry from $8.00 to $7.00 and set a “market perform” rating for the company in a report on Wednesday, December 21st. Royal Bank of Canada dropped their price objective on BlackBerry from $5.50 to $4.50 and set a “sector perform” rating for the company in a report on Wednesday. Robert W. Baird dropped their price objective on BlackBerry from $6.00 to $5.00 in a report on Wednesday, December 21st. Finally, TD Securities dropped their price objective on BlackBerry from $4.25 to $3.75 and set a “reduce” rating for the company in a report on Wednesday, December 21st. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $5.05.
BlackBerry Trading Up 3.4 %
The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $2.11 billion, a P/E ratio of -6.46 and a beta of 1.58. The business has a 50 day moving average price of $3.98 and a 200 day moving average price of $4.39.
Insider Activity
In related news, CFO Steve Rai sold 8,958 shares of the business’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $3.32, for a total value of $29,740.56. Following the completion of the transaction, the chief financial officer now directly owns 48,655 shares in the company, valued at approximately $161,534.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 39,683 shares of company stock valued at $136,059 in the last ninety days. 1.60% of the stock is owned by insiders.
Hedge Funds Weigh In On BlackBerry
Institutional investors and hedge funds have recently modified their holdings of the business. Belpointe Asset Management LLC boosted its position in BlackBerry by 8.2% during the 4th quarter. Belpointe Asset Management LLC now owns 31,162 shares of the company’s stock worth $102,000 after acquiring an additional 2,355 shares during the last quarter. CI Investments Inc. boosted its position in BlackBerry by 6.4% during the 3rd quarter. CI Investments Inc. now owns 43,580 shares of the company’s stock worth $205,000 after acquiring an additional 2,614 shares during the last quarter. FMR LLC boosted its position in BlackBerry by 11.7% during the 2nd quarter. FMR LLC now owns 27,322 shares of the company’s stock worth $147,000 after acquiring an additional 2,851 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in BlackBerry by 17.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 26,640 shares of the company’s stock worth $125,000 after acquiring an additional 3,892 shares during the last quarter. Finally, Ronald Blue Trust Inc. acquired a new position in BlackBerry during the 2nd quarter worth approximately $30,000. 42.43% of the stock is currently owned by institutional investors and hedge funds.
About BlackBerry
BlackBerry Ltd. engages in providing intelligent security software and services to enterprises and governments. The firm leverages artificial intelligence and machine learning to deliver solutions in the areas of cyber security, safety, and data privacy solutions, and also focuses on the areas of endpoint security, endpoint management, encryption, and embedded systems.
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