BlackBerry (NYSE:BB) Stock Price Down 3.6%

Shares of BlackBerry Limited (NYSE:BB - Get Free Report) were down 3.6% on Monday . The stock traded as low as $2.93 and last traded at $2.94. Approximately 1,009,264 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 9,760,327 shares. The stock had previously closed at $3.05.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on BB shares. Canaccord Genuity Group dropped their price objective on shares of BlackBerry from $5.00 to $4.25 and set a "hold" rating for the company in a research report on Thursday, December 21st. Royal Bank of Canada reiterated a "sector perform" rating and set a $3.00 target price on shares of BlackBerry in a research report on Thursday, April 4th. TD Securities dropped their target price on shares of BlackBerry from $4.00 to $3.75 and set a "hold" rating for the company in a research report on Thursday, December 21st. Robert W. Baird dropped their target price on shares of BlackBerry from $4.50 to $3.50 and set a "neutral" rating for the company in a research report on Wednesday, February 14th. Finally, StockNews.com cut shares of BlackBerry from a "hold" rating to a "sell" rating in a research report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $4.08.

BlackBerry Stock Down 9.8 %

The company has a market cap of $1.62 billion, a price-to-earnings ratio of -11.46 and a beta of 1.41. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.25. The firm's fifty day moving average price is $2.79 and its 200-day moving average price is $3.32.

BlackBerry (NYSE:BB - Get Free Report) last announced its quarterly earnings results on Wednesday, April 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.06. BlackBerry had a negative net margin of 15.24% and a negative return on equity of 0.24%. The company had revenue of $173.00 million during the quarter, compared to analyst estimates of $150.47 million. During the same quarter in the previous year, the business earned ($0.04) EPS. The firm's revenue was up 14.6% on a year-over-year basis. Sell-side analysts predict that BlackBerry Limited will post -0.09 earnings per share for the current year.

Insider Activity

In related news, Director Philip G. Brace bought 35,000 shares of BlackBerry stock in a transaction that occurred on Wednesday, February 14th. The stock was purchased at an average cost of $2.79 per share, with a total value of $97,650.00. Following the purchase, the director now owns 35,000 shares in the company, valued at $97,650. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.94% of the stock is owned by company insiders.

Hedge Funds Weigh In On BlackBerry

Large investors have recently modified their holdings of the business. Optiver Holding B.V. acquired a new position in shares of BlackBerry during the 3rd quarter worth about $25,000. GHP Investment Advisors Inc. acquired a new position in shares of BlackBerry during the 3rd quarter worth about $28,000. Highlander Capital Management LLC boosted its stake in shares of BlackBerry by 77.8% during the 4th quarter. Highlander Capital Management LLC now owns 8,000 shares of the company's stock worth $28,000 after buying an additional 3,500 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of BlackBerry during the 4th quarter worth about $36,000. Finally, Creative Planning acquired a new position in shares of BlackBerry during the 4th quarter worth about $37,000. 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 CylancePROTECT, an endpoint protection platform and mobile threat defense solution; CylanceOPTICS, an endpoint detection and response solution; CylanceGUARD, a managed detection and response solution; CylanceGATEWAY, an AI-empowered zero-trust network access solution; CylancePERSONA, a user and entity behavior analytics solution; BlackBerry unified endpoint management, a central software component for secure communications platform; BlackBerry Dynamics, a development platform and secure container for mobile applications; and BlackBerry Workspaces solutions.