BlackBerry Limited (NYSE:BB) Short Interest Down 8.0% in November

BlackBerry Limited (NYSE:BB) saw a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 24,830,000 shares, a drop of 8.0% from the October 31st total of 26,980,000 shares. Based on an average daily volume of 8,420,000 shares, the short-interest ratio is presently 2.9 days. Currently, 4.3% of the company’s shares are short sold.

BlackBerry Trading Down 0.4 %

Shares of BB traded down $0.01 during trading hours on Monday, reaching $2.56. 11,224,155 shares of the company traded hands, compared to its average volume of 9,109,149. The company’s fifty day moving average price is $2.43 and its two-hundred day moving average price is $2.46. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of -10.28 and a beta of 1.42. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.27. BlackBerry has a 12 month low of $2.01 and a 12 month high of $4.44.

BlackBerry (NYSE:BB) last announced its earnings results on Thursday, September 26th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. BlackBerry had a negative net margin of 21.66% and a negative return on equity of 3.38%. The firm had revenue of $145.00 million for the quarter, compared to analyst estimates of $138.82 million. During the same quarter in the previous year, the firm posted ($0.06) EPS. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. Equities research analysts predict that BlackBerry will post -0.06 earnings per share for the current fiscal year.

Insider Activity at BlackBerry

In other BlackBerry news, insider Philip S. Kurtz sold 15,005 shares of the firm’s stock in a transaction on Saturday, September 28th. The shares were sold at an average price of $2.53, for a total value of $37,962.65. Following the sale, the insider now owns 30,129 shares of the company’s stock, valued at $76,226.37. This trade represents a 33.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. lifted its position in BlackBerry by 83.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock valued at $29,000 after acquiring an additional 5,349 shares during the period. Geode Capital Management LLC raised its holdings in BlackBerry by 2.9% in the third quarter. Geode Capital Management LLC now owns 267,073 shares of the company’s stock worth $706,000 after buying an additional 7,652 shares during the last quarter. International Assets Investment Management LLC raised its holdings in BlackBerry by 60.7% in the third quarter. International Assets Investment Management LLC now owns 20,769 shares of the company’s stock worth $540,000 after buying an additional 7,842 shares during the last quarter. Signaturefd LLC raised its holdings in BlackBerry by 65.5% in the third quarter. Signaturefd LLC now owns 22,898 shares of the company’s stock worth $60,000 after buying an additional 9,063 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in BlackBerry by 7.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 130,665 shares of the company’s stock worth $327,000 after buying an additional 9,156 shares during the last quarter. 54.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on BB. Royal Bank of Canada reissued a “sector perform” rating and issued a $3.00 price target on shares of BlackBerry in a report on Friday, September 27th. StockNews.com lowered shares of BlackBerry from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Canaccord Genuity Group raised their price target on shares of BlackBerry from $2.70 to $2.80 and gave the stock a “hold” rating in a report on Friday, October 18th. Finally, CIBC raised their price target on shares of BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $3.23.

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.