BlackBerry (NYSE:BB) Posts Earnings Results

BlackBerry (NYSE:BB - Get Free Report) posted its earnings results on Tuesday. The company reported $0.01 earnings per share for the quarter, Zacks reports. BlackBerry had a negative net margin of 13.84% and a negative return on equity of 1.78%.

BlackBerry Trading Up 0.3%

Shares of BlackBerry stock traded up $0.02 during trading on Tuesday, reaching $4.34. The company's stock had a trading volume of 16,874,346 shares, compared to its average volume of 19,306,006. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.27. BlackBerry has a 52-week low of $2.01 and a 52-week high of $6.24. The firm's 50-day moving average is $3.81 and its two-hundred day moving average is $4.03. The company has a market cap of $2.58 billion, a price-to-earnings ratio of -33.35 and a beta of 1.45.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BB shares. Royal Bank Of Canada reissued a "sector perform" rating and issued a $3.75 price target on shares of BlackBerry in a research report on Friday. Canaccord Genuity Group reissued a "hold" rating on shares of BlackBerry in a report on Tuesday. CIBC restated an "outperform" rating on shares of BlackBerry in a report on Tuesday. Finally, Wall Street Zen raised BlackBerry from a "hold" rating to a "buy" rating in a report on Sunday. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $4.12.

Insiders Place Their Bets

In related news, SVP Jennifer Armstrong-Owen sold 29,940 shares of BlackBerry stock in a transaction on Friday, April 4th. The shares were sold at an average price of $2.99, for a total value of $89,520.60. Following the transaction, the senior vice president now directly owns 42,398 shares of the company's stock, valued at $126,770.02. The trade was a 41.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 37,216 shares of company stock valued at $112,025 over the last three months. Insiders own 0.37% of the company's stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in BlackBerry stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of BlackBerry Limited (NYSE:BB - Free Report) by 1.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 823,822 shares of the company's stock after buying an additional 10,667 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.14% of BlackBerry worth $3,106,000 at the end of the most recent reporting period. 54.48% of the stock is currently owned by institutional investors and hedge funds.

About BlackBerry

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.

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