BlackBerry (NYSE:BB) Trading Down 3.4% - Time to Sell?

BlackBerry Limited (NYSE:BB - Get Free Report) shares were down 3.4% on Thursday . The stock traded as low as $4.64 and last traded at $4.70. Approximately 4,339,234 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 14,149,657 shares. The stock had previously closed at $4.87.

Analyst Ratings Changes

Several equities research analysts have weighed in on BB shares. CIBC restated an "outperform" rating on shares of BlackBerry in a research note on Tuesday. Canaccord Genuity Group raised their target price on shares of BlackBerry from $4.25 to $4.60 and gave the company a "hold" rating in a research note on Tuesday. Wall Street Zen upgraded shares of BlackBerry from a "hold" rating to a "buy" rating in a research note on Sunday. Robert W. Baird raised their target price on shares of BlackBerry from $4.00 to $5.00 and gave the company a "neutral" rating in a research note on Wednesday. Finally, Royal Bank Of Canada raised their target price on shares of BlackBerry from $3.75 to $4.00 and gave the company a "sector perform" rating in a research note on Friday, June 20th. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $4.38.

BlackBerry Stock Down 3.0%

The company's 50 day moving average price is $3.89 and its 200 day moving average price is $4.05. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of -78.75 and a beta of 1.45.

BlackBerry (NYSE:BB - Get Free Report) last issued its earnings results on Tuesday, June 24th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.03. BlackBerry had a negative net margin of 6.44% and a positive return on equity of 2.29%. The firm had revenue of $121.26 million during the quarter, compared to analysts' expectations of $112.18 million. During the same quarter last year, the company posted ($0.03) earnings per share. The firm's revenue was down 15.5% compared to the same quarter last year. As a group, research analysts forecast that BlackBerry Limited will post -0.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In other BlackBerry 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 completion of the transaction, the senior vice president now owns 42,398 shares of the company's stock, valued at approximately $126,770.02. The trade was a 41.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Philip S. Kurtz sold 16,217 shares of BlackBerry stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $5.25, for a total transaction of $85,139.25. Following the completion of the transaction, the insider now directly owns 57,503 shares of the company's stock, valued at $301,890.75. The trade was a 22.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 53,433 shares of company stock valued at $197,164 over the last 90 days. Insiders own 0.37% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BB. Sanctuary Advisors LLC purchased a new position in BlackBerry in the fourth quarter valued at $40,000. SBI Securities Co. Ltd. purchased a new stake in shares of BlackBerry during the fourth quarter worth about $97,000. Bravias Capital Group LLC purchased a new stake in shares of BlackBerry during the fourth quarter worth about $45,000. Global Strategic Investment Solutions LLC purchased a new stake in shares of BlackBerry during the fourth quarter worth about $76,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of BlackBerry during the fourth quarter worth about $544,000. Hedge funds and other institutional investors own 54.48% of the company's stock.

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.