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BlackBerry Ltd (BB) Stock Could Soon Reward Patient Investors

BlackBerry Ltd (NYSE: BB) is -20.90% lower on its value in year-to-date trading and has touched a low of $2.46 and a high of $5.75 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The BB stock was last observed hovering at around $2.70 in the last trading session, with the day’s gains setting it 0.1%.

Currently trading at $2.80, the stock is 1.19% and -0.54% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 13.8 million and changing 3.70% at the moment leaves the stock -28.90% off its SMA200. BB registered -30.00% loss for a year compared to 6-month loss of -40.55%. The firm has a 50-day simple moving average (SMA 50) of $1.98 and a 200-day simple moving average (SMA200) of -$43.19.

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The stock witnessed a 0.72% gain in the last 1 month and extending the period to 3 months gives it a -20.90%, and is 6.06% 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 4.41% over the week and 5.68% over the month.

BlackBerry Ltd (BB) has around 3181 employees, a market worth around $1.64B and $831.00M in sales. Profit margin for the company is -68.47%. Distance from 52-week low is 13.82% and -51.30% from its 52-week high. The company has generated returns on investments over the last 12 months (-65.25%).

BlackBerry Ltd quarterly earnings per share for the current quarter are estimated at -$0.03 with sales reaching $154.78M over the same period., but quarterly earnings will post 26.60% year-over-year. Quarterly sales are estimated to grow 2.50% in year-over-year returns.

BlackBerry Ltd (BB) Top Institutional Holders

295 institutions hold shares in BlackBerry Ltd (BB), with institutional investors hold 53.12% of the company’s shares. The shares outstanding are 582.16M, and float is at 575.12M with Short Float at 7.53%. Institutions hold 52.23% of the Float.

The top institutional shareholder in the company is Fairfax Financial Holdings Ltd with over 46.72 million shares valued at $258.39 million. The investor’s holdings represent 8.00% of the BB Shares outstanding. As of Jun 29, 2023, the second largest holder is Fifthdelta Ltd with 42.24 million shares valued at $233.61 million to account for 7.24% of the shares outstanding. The other top investors are Primecap Management Company which holds 35.04 million shares representing 6.00% and valued at over $193.75 million, while Legal & General Group PLC holds 3.94% of the shares totaling 22.98 million with a market value of $127.1 million.

BlackBerry Ltd (BB) Insider Activity

The most recent transaction is an insider purchase by BRACE PHILIP G,the company’sDirector. SEC filings show that BRACE PHILIP G bought 35,000 shares of the company’s common stock on Feb 14 ’24 at a price of $2.79 per share for a total of $97650.0. Following the purchase, the insider now owns 35000.0 shares.

BlackBerry Ltd disclosed in a document filed with the SEC on Jan 08 ’24 that Rai Steve (Chief Financial Officer) sold a total of 20,047 shares of the company’s common stock. The trade occurred on Jan 08 ’24 and was made at $3.25 per share for $65153.0. Following the transaction, the insider now directly holds 84599.0 shares of the BB stock.

Still, SEC filings show that on Jan 08 ’24, GIAMATTEO JOHN JOSEPH (CEO & President, Cybersecurity) disposed off 18,279 shares at an average price of $3.23 for $59041.0. The insider now directly holds 206,090 shares of BlackBerry Ltd (BB).

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