BlackBerry Limited (BB) Looks Ready for Growth Despite -13.08% Change This Year

BlackBerry Limited (NYSE: BB) is -13.08% lower on its value in year-to-date trading and has touched a low of $2.70 and a high of $7.76 in the current 52-week trading range. The BB stock was last observed hovering at around $5.22 in the last trading session, with the day’s gains setting it 0.36% off its average median price target of $5.50 for the next 12 months. It is also 72.1% off the consensus price target high of $20.00 offered by 12 analysts, but current levels are -24.0% lower than the price target low of $4.50 for the same period.

Currently trading at $5.58, the stock is 14.32% and 15.47% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 6.65 million and changing 6.90% at the moment leaves the stock 10.33% off its SMA200. BB registered -17.46% loss for a year compared to 6-month loss of 13.41%. The firm has a 50-day simple moving average (SMA 50) of $4.82 and a 200-day simple moving average (SMA200) of $4.61.

The stock witnessed a 17.72% gain in the last 1 month and extending the period to 3 months gives it a 7.10%, and is 16.74% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 5.38% over the week and 3.59% over the month.

BlackBerry Limited (BB) has around 3647 employees, a market worth around $2.98B and $999.00M in sales. Fwd P/E is 41.64. Profit margin for the company is -75.40%. Distance from 52-week low is 106.67% and -28.09% from its 52-week high. The company has generated returns on investments over the last 12 months (-4.90%).

BlackBerry Limited (BB) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for BlackBerry Limited (BB) is a “Hold”. 12 analysts offering their recommendations for the stock have an average rating of 3.10, where 9 rate it as a Hold and 1 think it is a “Overweight”. 1 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

BlackBerry Limited is expected to release its quarterly report on 09/25/2020 and quarterly earnings per share for the current quarter are estimated at $0.02 with sales reaching $237.95M over the same period.The EPS is expected to shrink by -281.90% this year, but quarterly earnings will post -13.10% year-over-year.

BlackBerry Limited (BB) Top Institutional Holders

409 institutions hold shares in BlackBerry Limited (BB), with 11.1M shares held by insiders accounting for 2.00% while institutional investors hold 56.84% of the company’s shares. The shares outstanding are 557.84M, and float is at 548.14M with Short Float at 5.06%. Institutions hold 55.71% of the Float.

The top institutional shareholder in the company is Primecap Management Company with over 63.5 million shares valued at $310.51 million. The investor’s holdings represent 11.41% of the BB Shares outstanding. As of Jun 29, 2020, the second largest holder is Fairfax Financial Holdings Ltd/ Can with 46.72 million shares valued at $228.48 million to account for 8.40% of the shares outstanding. The other top investors are Ontario Teachers’ Pension Plan Board which holds 19.82 million shares representing 3.56% and valued at over $96.92 million, while Vanguard Group, Inc. (The) holds 2.66% of the shares totaling 14.78 million with a market value of $72.27 million.

BlackBerry Limited (BB) Insider Activity

A total of 5 insider transactions have happened at BlackBerry Limited (BB) in the last six months, with sales accounting for 2 and purchases happening 3 times. The most recent transaction is an insider sale by Castignola David, the company’s Head of Spark Field Ops & Mktg. SEC filings show that Castignola David sold 2,799 shares of the company’s common stock on Jun 29 at a price of $4.77 per share for a total of $13351.0. Following the sale, the insider now owns 9833.0 shares.

BlackBerry Limited disclosed in a document filed with the SEC on Apr 08 that HO BILLY (EVP, Ent. Products & VAS) bought a total of 10,000 shares of the company’s common stock. The trade occurred on Apr 08 and was made at $3.79 per share for $37900.0. Following the transaction, the insider now directly holds 0.19 million shares of the BB stock.

Still, SEC filings show that on Apr 03, Stymiest Barbara (Director) acquired 10,000 shares at an average price of $3.24 for $32400.0. The insider now directly holds 10,000 shares of BlackBerry Limited (BB).

BlackBerry Limited (BB): Who are the competitors?

The company’s main competitors (and peers) include Alphabet Inc. (GOOGL) that is trading 41.51% up over the past 12 months. Motorola Solutions Inc. (MSI) is -13.90% down on the 1-year trading charts. Short interest in the company’s stock has risen 10.67% from the last report on Jul 14, 2020 to stand at a total of 24.78 million short shares sold with a short interest ratio of 9.1.