BlackBerry’s (BB) Sector Perform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of BlackBerry (NYSE:BB) in a research note released on Tuesday, MarketBeat Ratings reports. Royal Bank of Canada currently has a $4.00 price target on the stock.

Other equities research analysts have also issued reports about the company. Canaccord Genuity Group raised their price objective on BlackBerry from $3.00 to $4.75 and gave the stock a “hold” rating in a research note on Tuesday, March 11th. TD Cowen raised BlackBerry from a “hold” rating to a “buy” rating and lifted their price target for the stock from $3.25 to $4.00 in a research note on Friday, December 20th. Robert W. Baird upped their price objective on shares of BlackBerry from $3.00 to $3.50 and gave the company a “neutral” rating in a research note on Friday, December 20th. TD Securities raised shares of BlackBerry from a “hold” rating to a “buy” rating and lifted their target price for the stock from $3.25 to $4.00 in a research report on Friday, December 20th. Finally, StockNews.com upgraded shares of BlackBerry from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $4.15.

BlackBerry Trading Down 7.2 %

Shares of BB stock opened at $3.15 on Tuesday. 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 50-day simple moving average of $4.65 and a 200 day simple moving average of $3.50. BlackBerry has a fifty-two week low of $2.01 and a fifty-two week high of $6.24. The stock has a market capitalization of $1.88 billion, a P/E ratio of -14.30 and a beta of 1.30.

BlackBerry (NYSE:BB) last announced its quarterly earnings data on Wednesday, April 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. The company had revenue of $141.70 million for the quarter, compared to analysts’ expectations of $137.56 million. During the same quarter in the previous year, the company posted $0.03 EPS. The business’s revenue was down 7.3% compared to the same quarter last year. On average, sell-side analysts expect that BlackBerry will post -0.03 earnings per share for the current fiscal year.

Insider Buying and Selling at BlackBerry

In related news, CEO John Joseph Giamatteo sold 29,402 shares of BlackBerry stock in a transaction on Monday, January 6th. The shares were sold at an average price of $4.00, for a total value of $117,608.00. Following the transaction, the chief executive officer now owns 490,761 shares in the company, valued at $1,963,044. This trade represents a 5.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mattias Eriksson sold 12,680 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $4.00, for a total transaction of $50,720.00. Following the sale, the insider now owns 278,306 shares of the company’s stock, valued at $1,113,224. This trade represents a 4.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,388 shares of company stock valued at $288,882 in the last quarter. Company insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On BlackBerry

Large investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC grew its position in BlackBerry by 63.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,773 shares of the company’s stock worth $37,000 after purchasing an additional 3,811 shares during the last quarter. Quantinno Capital Management LP acquired a new stake in BlackBerry during the third quarter worth about $38,000. Masso Torrence Wealth Management Inc. acquired a new stake in BlackBerry during the fourth quarter worth about $38,000. Mindset Wealth Management LLC bought a new position in BlackBerry during the fourth quarter valued at about $38,000. Finally, Quadrant Capital Group LLC raised its holdings in BlackBerry by 100.3% in the 4th quarter. Quadrant Capital Group LLC now owns 10,000 shares of the company’s stock valued at $38,000 after acquiring an additional 5,008 shares in the last quarter. 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.