BlackBerry Limited (NYSE: BB) is 38.76% higher on its value in year-to-date trading and has touched a low of $3.18 and a high of $28.77 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The BB stock was last observed hovering at around $9.63 in the last trading session, with the day’s loss setting it -0.43% off its average median price target of $8.50 for the next 12 months. It is also 54.0% off the consensus price target high of $20.00 offered by 9 analysts, but current levels are -104.44% lower than the price target low of $4.50 for the same period.
Currently trading at $9.20, the stock is -12.49% and -23.31% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 13.51 million and changing -4.47% at the moment leaves the stock 29.96% off its SMA200. BB registered 141.47% gain for a year compared to 6-month gain of 92.87%. The firm has a 50-day simple moving average (SMA 50) of $11.01 and a 200-day simple moving average (SMA200) of $8.08.
The stock witnessed a -8.46% loss in the last 1 month and extending the period to 3 months gives it a 30.31%, and is -14.10% down 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 7.10% over the week and 7.60% over the month.
BlackBerry Limited (BB) has around 3647 employees, a market worth around $5.34B and $965.00M in sales. Fwd P/E is 63.01. Profit margin for the company is -86.00%. Distance from 52-week low is 189.31% and -68.02% 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 “Underweight”. 9 analysts offering their recommendations for the stock have an average rating of 3.70, where 3 rate it as a Hold and 0 think it is a “Overweight”. 1 of the analysts rate the stock as a “Buy”. 4 analysts have rated the stock as a Sell or Underperform.
BlackBerry Limited is expected to release its quarterly report on 06/24/2021 and quarterly earnings per share for the current quarter are estimated at $0.03 with sales reaching $245.11M over the same period.The EPS is expected to shrink by -281.90% this year, but quarterly earnings will post -14.30% year-over-year. Quarterly sales are estimated to shrink -15.80% in year-over-year returns.
BlackBerry Limited (BB) Top Institutional Holders
385 institutions hold shares in BlackBerry Limited (BB), with 7.45M shares held by insiders accounting for 1.33% while institutional investors hold 51.07% of the company’s shares. The shares outstanding are 562.44M, and float is at 555.29M with Short Float at 6.78%. Institutions hold 50.39% of the Float.
The top institutional shareholder in the company is Primecap Management Company with over 59.35 million shares valued at $393.52 million. The investor’s holdings represent 10.50% of the BB Shares outstanding. As of Dec 30, 2020, the second largest holder is Fairfax Financial Holdings Ltd/ Can with 46.72 million shares valued at $309.78 million to account for 8.26% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 14.57 million shares representing 2.58% and valued at over $96.63 million, while Arrowstreet Capital, Limited Partnership holds 1.50% of the shares totaling 8.48 million with a market value of $56.25 million.
BlackBerry Limited (BB) Insider Activity
A total of 20 insider transactions have happened at BlackBerry Limited (BB) in the last six months, with sales accounting for 11 and purchases happening 9 times. The most recent transaction is an insider sale by HO BILLY ,the company’sEVP, Ent. Products & VAS. SEC filings show that HO BILLY sold 20,000 shares of the company’s common stock on Jan 20 at a price of $12.95 per share for a total of $0.26 million. Following the sale, the insider now owns 0.22 million shares.
BlackBerry Limited disclosed in a document filed with the SEC on Jan 20 that Rai Steve (Chief Financial Officer) sold a total of 32,954 shares of the company’s common stock. The trade occurred on Jan 20 and was made at $13.01 per share for $0.43 million. Following the transaction, the insider now directly holds 0.0 shares of the BB stock.
Still, SEC filings show that on Jan 20, Wilson Mark George (Chief Marketing Officer) disposed off 78,500 shares at an average price of $12.63 for $0.99 million. The insider now directly holds 53,878 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 84.26% up over the past 12 months and Apple Inc. (AAPL) that is 96.00% higher over the same period. Motorola Solutions Inc. (MSI) is 39.84% up on the 1-year trading charts. Short interest in the company’s stock has risen 14.1% from the last report on Feb 11, 2021 to stand at a total of 32.35 million short shares sold with a short interest ratio of 1.58.