BlackBerry Ltd (BB) Short Interest Update

BlackBerry Ltd (NYSE:BB) saw a significant drop in short interest in the month of March. As of March 29th, there was short interest totalling 19,562,582 shares, a drop of 14.9% from the March 15th total of 22,988,485 shares. Based on an average daily volume of 6,916,674 shares, the short-interest ratio is presently 2.8 days.

A number of large investors have recently modified their holdings of BB. Sound Income Strategies LLC acquired a new stake in BlackBerry during the fourth quarter worth approximately $28,000. Csenge Advisory Group acquired a new stake in BlackBerry during the third quarter worth approximately $35,000. Gradient Investments LLC acquired a new stake in BlackBerry during the fourth quarter worth approximately $36,000. Capital Investment Advisory Services LLC acquired a new stake in BlackBerry during the fourth quarter worth approximately $43,000. Finally, Truvestments Capital LLC acquired a new stake in BlackBerry during the first quarter worth approximately $52,000. 52.71% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have recently weighed in on the company. CIBC reiterated a “buy” rating and set a $13.00 target price on shares of BlackBerry in a research note on Friday, March 29th. Zacks Investment Research lowered BlackBerry from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. TD Securities increased their target price on BlackBerry from $14.00 to $14.50 and gave the stock a “buy” rating in a research note on Monday, April 1st. Raymond James set a $11.00 target price on BlackBerry and gave the stock a “market perform” rating in a research note on Monday, April 1st. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $10.00 target price on shares of BlackBerry in a research note on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. BlackBerry presently has an average rating of “Hold” and a consensus target price of $10.60.

Shares of NYSE BB opened at $9.20 on Tuesday. The company has a market cap of $5.08 billion, a PE ratio of 70.77 and a beta of 2.08. The company has a debt-to-equity ratio of 0.25, a quick ratio of 6.77 and a current ratio of 2.54. BlackBerry has a 1-year low of $6.57 and a 1-year high of $12.55.

BlackBerry (NYSE:BB) last announced its earnings results on Friday, March 29th. The company reported $0.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.05. The company had revenue of $257.00 million for the quarter, compared to analyst estimates of $242.81 million. BlackBerry had a return on equity of 2.33% and a net margin of 10.29%. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.05 earnings per share. Equities research analysts predict that BlackBerry will post -0.01 earnings per share for the current year.

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BlackBerry Company Profile

BlackBerry Limited operates as an enterprise software and services company focused on securing and managing endpoints in the Internet of Things. It offers BlackBerry Enterprise Mobility Suite, which combines and integrates mobile security, management, productivity, and collaboration solutions, such as BlackBerry UEM, BlackBerry Dynamics, and BlackBerry Workspaces; BlackBerry AtHoc, a secure and networked crisis communications solution; SecuSUITE for Government, a voice encryption software solution; BlackBerry Enterprise Consulting and BlackBerry Cybersecurity Consulting; and BBM Enterprise, an enterprise-grade secure instant messaging solution, as well as Communications Platform as a Service.

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