BlackBerry (NYSE:BB) Trading 3.9% Higher - What's Next?

Shares of BlackBerry Limited (NYSE:BB - Get Free Report) traded up 3.9% on Monday . The stock traded as high as $3.62 and last traded at $3.63. 3,237,557 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 21,513,885 shares. The stock had previously closed at $3.49.

Wall Street Analyst Weigh In

Several equities analysts have commented on BB shares. Royal Bank of Canada set a $3.75 target price on shares of BlackBerry in a research note on Thursday, April 3rd. StockNews.com upgraded shares of BlackBerry from a "sell" rating to a "hold" rating in a research note on Friday, April 11th. CIBC decreased their price target on BlackBerry from $7.00 to $6.00 and set an "outperformer" rating for the company in a research note on Thursday, April 3rd. Finally, Canaccord Genuity Group dropped their price objective on BlackBerry from $4.75 to $4.25 and set a "hold" rating on the stock in a research note on Thursday, April 3rd. Six investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $4.12.

BlackBerry Stock Performance

The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.37 and a current ratio of 1.37. The firm has a market capitalization of $2.27 billion, a P/E ratio of -17.27 and a beta of 1.42. The firm has a 50 day moving average price of $3.69 and a two-hundred day moving average price of $3.67.

BlackBerry (NYSE:BB - Get Free Report) last issued its quarterly earnings results on Wednesday, April 2nd. The company reported $0.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.02 by $0.01. BlackBerry had a negative return on equity of 2.02% and a negative net margin of 21.16%. The firm had revenue of $141.70 million for the quarter, compared to analysts' expectations of $137.56 million. During the same quarter last year, the business posted $0.03 EPS. BlackBerry's revenue was down 7.3% on a year-over-year basis. On average, equities research analysts expect that BlackBerry Limited will post -0.03 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Jennifer Armstrong-Owen sold 29,940 shares of the business's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $2.99, for a total transaction of $89,520.60. Following the transaction, the senior vice president now directly 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last three months, insiders have sold 37,216 shares of company stock worth $112,025. Corporate insiders own 0.34% of the company's stock.

Institutional Investors Weigh In On BlackBerry

Institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC increased its stake in shares of BlackBerry by 216.2% during the 1st quarter. Parallel Advisors LLC now owns 7,156 shares of the company's stock worth $27,000 after purchasing an additional 4,893 shares during the last quarter. Tower Research Capital LLC TRC increased its position in BlackBerry by 63.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,773 shares of the company's stock worth $37,000 after buying an additional 3,811 shares during the last quarter. Chicago Partners Investment Group LLC bought a new position in BlackBerry during the first quarter valued at about $37,000. Masso Torrence Wealth Management Inc. acquired a new stake in shares of BlackBerry in the fourth quarter worth about $38,000. Finally, Mindset Wealth Management LLC bought a new stake in shares of BlackBerry during the 4th quarter worth about $38,000. 54.48% of the stock is currently owned by institutional investors and hedge funds.

BlackBerry Company Profile

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.