BlackBerry (TSE:BB) Stock Price Down 3.1% - What's Next?

Key Points

• BlackBerry shares fell 3.1% mid-day to C$6.99 (low C$6.92) with ~750,632 shares traded, a 68% decline from its average daily volume of 2.34 million.
• The company has a market cap of C$4.03 billion and trades at a high valuation (P/E 76.11, P/E/G 0.06) with notable leverage (debt-to-equity 2.52) and a low beta (0.04); its 50- and 200-day moving averages are C$5.02 and C$5.51.
• BlackBerry has shifted to being a software provider focused on secure enterprise communications, endpoint protection and embedded software for regulated and industrial markets, with recent IoT growth tempered by a guidance cut.

BlackBerry Limited (TSE:BB - NASDAQ: BBRY's share price was down 3.1% during mid-day trading on Friday . The stock traded as low as C$6.92 and last traded at C$6.99. Approximately 750,632 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 2,337,815 shares. The stock had previously closed at C$7.21.

BlackBerry Stock Performance

The company has a quick ratio of 1.49, a current ratio of 2.12 and a debt-to-equity ratio of 2.52. The firm has a market capitalization of C$4.03 billion, a P/E ratio of 76.11, a P/E/G ratio of 0.06 and a beta of 0.04. The stock has a fifty day moving average of C$5.02 and a 200-day moving average of C$5.51.

About BlackBerry

BlackBerry, once known for being the world's largest smartphone manufacturer, is now exclusively a software provider with a stated goal of end-to-end secure communication for enterprises. The firm provides endpoint management and protection to enterprises, specializing in regulated industries like government, as well as embedded software to the automotive, medical, and industrial markets.

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