BlackBerry (NYSE:BB) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of BlackBerry (NYSE:BB) from a sell rating to a hold rating in a report released on Wednesday.

BB has been the topic of a number of other research reports. Canaccord Genuity Group upped their target price on BlackBerry from $2.70 to $2.80 and gave the company a “hold” rating in a research note on Friday, October 18th. CIBC upped their price objective on BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $3.00 price objective on shares of BlackBerry in a research note on Friday, September 27th. Seven equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $3.23.

BlackBerry Stock Up 0.8 %

BlackBerry stock opened at $2.44 on Wednesday. BlackBerry has a fifty-two week low of $2.01 and a fifty-two week high of $4.44. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -9.76 and a beta of 1.42. The stock’s fifty day moving average is $2.42 and its two-hundred day moving average is $2.50. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.44.

BlackBerry (NYSE:BB) last issued its quarterly earnings data on Thursday, September 26th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. The firm had revenue of $145.00 million for the quarter, compared to analysts’ expectations of $138.82 million. BlackBerry had a negative net margin of 21.66% and a negative return on equity of 3.38%. The firm’s revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.06) EPS. Analysts predict that BlackBerry will post -0.06 EPS for the current fiscal year.

Insider Activity

In other BlackBerry news, insider Philip S. Kurtz sold 15,005 shares of BlackBerry stock in a transaction dated Saturday, September 28th. The stock was sold at an average price of $2.53, for a total value of $37,962.65. Following the completion of the sale, the insider now owns 30,129 shares in the company, valued at $76,226.37. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On BlackBerry

A number of hedge funds have recently made changes to their positions in the stock. EP Wealth Advisors LLC acquired a new position in shares of BlackBerry in the 2nd quarter valued at about $28,000. Northwestern Mutual Wealth Management Co. raised its holdings in BlackBerry by 83.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock valued at $29,000 after buying an additional 5,349 shares during the period. Werba Rubin Papier Wealth Management acquired a new position in BlackBerry during the second quarter valued at approximately $43,000. Viewpoint Capital Management LLC purchased a new stake in BlackBerry during the second quarter worth approximately $50,000. Finally, Signaturefd LLC increased its position in shares of BlackBerry by 65.5% in the third quarter. Signaturefd LLC now owns 22,898 shares of the company’s stock worth $60,000 after acquiring an additional 9,063 shares in the last quarter. Institutional investors and hedge funds 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.