BlackBerry (NYSE:BB) Downgraded to Sell at StockNews.com

StockNews.com lowered shares of BlackBerry (NYSE:BB) from a hold rating to a sell rating in a research note published on Wednesday morning.

A number of other brokerages also recently weighed in on BB. Robert W. Baird cut their price target on shares of BlackBerry from $6.00 to $5.50 in a report on Thursday, September 7th. CIBC raised BlackBerry from a sector underperform rating to a neutral rating and upped their price target for the company from $4.20 to $6.50 in a report on Thursday, May 18th. Royal Bank of Canada reaffirmed a sector perform rating and issued a $4.50 price target on shares of BlackBerry in a report on Thursday, September 7th. 3M reaffirmed a maintains rating on shares of BlackBerry in a report on Thursday, May 18th. Finally, TD Securities upped their price target on BlackBerry from $4.00 to $5.00 and gave the company a hold rating in a report on Friday, June 30th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat, the company currently has an average rating of Hold and an average target price of $5.50.

BlackBerry Price Performance

Shares of BB stock opened at $5.39 on Wednesday. BlackBerry has a 12-month low of $3.17 and a 12-month high of $5.92. The firm has a market capitalization of $3.15 billion, a price-to-earnings ratio of -5.13 and a beta of 1.51. The business has a 50 day simple moving average of $4.91 and a 200 day simple moving average of $4.86.

BlackBerry (NYSE:BB) last posted its quarterly earnings data on Wednesday, June 28th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.10. The business had revenue of $373.00 million during the quarter, compared to the consensus estimate of $159.36 million. BlackBerry had a negative net margin of 65.50% and a negative return on equity of 6.39%.

Insider Buying and Selling at BlackBerry

In other BlackBerry news, insider Mattias Eriksson sold 11,126 shares of the business’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $5.56, for a total value of $61,860.56. Following the transaction, the insider now owns 64,721 shares in the company, valued at $359,848.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.94% of the company’s stock.

Hedge Funds Weigh In On BlackBerry

Institutional investors have recently bought and sold shares of the stock. Signaturefd LLC raised its holdings in BlackBerry by 262.9% during the second quarter. Signaturefd LLC now owns 4,780 shares of the company’s stock valued at $26,000 after buying an additional 3,463 shares in the last quarter. Compagnie Lombard Odier SCmA acquired a new position in BlackBerry during the fourth quarter valued at approximately $31,000. Virtu Financial LLC acquired a new position in BlackBerry during the fourth quarter valued at approximately $36,000. Tower Research Capital LLC TRC grew its holdings in BlackBerry by 470.1% during the third quarter. Tower Research Capital LLC TRC now owns 9,019 shares of the company’s stock valued at $43,000 after purchasing an additional 7,437 shares during the last quarter. Finally, Hollow Brook Wealth Management LLC acquired a new position in BlackBerry during the fourth quarter valued at approximately $47,000. 42.66% of the stock is currently owned by institutional investors.

About BlackBerry

BlackBerry Ltd. engages in providing intelligent security software and services to enterprises and governments. The firm leverages artificial intelligence and machine learning to deliver solutions in the areas of cyber security, safety, and data privacy solutions, and also focuses on the areas of endpoint security, endpoint management, encryption, and embedded systems.