Short Interest in BlackBerry Limited (NYSE:BB) Decreases By 6.1%

BlackBerry Limited (NYSE:BB) experienced a notable decline in short interest during January. As of January 31st, the total short interest reached 28,690,000 shares, which is a 6.1% decrease from the 30,540,000 shares recorded on January 15th. This reduction implies that 4.9% of the total shares of BlackBerry are currently sold short. With an average daily trading volume of 17,640,000 shares, the short-interest ratio stands at 1.6 days.

Analyst Ratings Changes

BlackBerry has attracted attention from several analysts recently. On December 20th, Robert W. Baird raised their price target for BlackBerry from $3.00 to $3.50 while maintaining a "neutral" rating. Likewise, TD Securities upgraded their rating from "hold" to "buy" and adjusted their target price from $3.25 to $4.00 on the same date. Canaccord Genuity Group also increased their target price from $2.80 to $3.00 and rated the stock as a "hold." Additionally, StockNews.com improved BlackBerry from a "sell" to a "hold" rating on December 9th. TD Cowen matched this upgrade, moving from a "hold" to a "buy" rating and raising their price target from $3.25 to $4.00. The overall analyst consensus shows that six have a hold rating, three have a buy rating, and one has a strong buy rating. According to MarketBeat data, the stock currently holds a consensus rating of "Moderate Buy" with a target price of $3.69.

Insider Buying and Selling at BlackBerry

In recent insider trading news, Jay P. Chai, the CAO, sold 24,425 shares on January 24th at an average price of $4.19, amounting to approximately $102,341. CEO John Joseph Giamatteo sold 155,815 shares on January 2nd at an average price of $3.68 for a total of around $573,399. Post-sale, Giamatteo retains 385,552 shares in the company, valued at approximately $1.42 million, marking a 28.78% reduction in his stock ownership. Over the past ninety days, insiders have sold a total of 244,221 shares, valued at $925,655, and insider ownership stands at 0.34% of the total shares.

Institutional Investors Weigh In On BlackBerry

Recent changes in positions among hedge funds and institutional investors indicate a growing interest in BlackBerry. Creative Planning increased its stake by 40.8% in the third quarter, now holding 36,551 shares valued at $96,000 after acquiring an additional 10,585 shares. Signaturefd LLC raised its holdings by 65.5%, owning 22,898 shares worth $60,000 after buying 9,063 shares during the same period. International Assets Investment Management LLC increased its stake by 60.7%, now owning 20,769 shares valued at $540,000. Mirae Asset Global Investments Co. Ltd. grew its holdings by 9.1%, with a total of 412,782 shares valued at $1.04 million. Finally, Intact Investment Management Inc. increased its holdings by 25.7%, now possessing 1,439,240 shares worth $3.79 million. Currently, institutional investors hold around 54.48% of BlackBerry's stock.

BlackBerry Trading Performance

BlackBerry opened at $6.08 recently, showing significant movement. The company has a 50-day moving average of $4.13 and a 200-day moving average of $3.01. The stock reached a 52-week low of $2.01 and a high of $6.24. Financial metrics include a debt-to-equity ratio of 0.27, a quick ratio of 1.37, and a current ratio of 1.37.

In its most recent earnings announcement on December 19th, BlackBerry reported earnings per share (EPS) of $0.02 for the quarter, surpassing the analysts' expectations of ($0.01) by $0.03. BlackBerry's net margin was reported at -21.16%, and its return on equity was at -2.02%. The company's revenue for the quarter totalled $143.00 million, which slightly fell short of the expected $144.84 million. Year-over-year, revenue declined by 5.9%, with analysts forecasting an EPS of -0.03 for the current fiscal year.

About BlackBerry

BlackBerry Limited specializes in providing intelligent security software and services to enterprises and governments across the globe. The company's operations are divided into three main segments: Cybersecurity, IoT, and Licensing and Other. BlackBerry offers various solutions, including CylanceENDPOINT for integrated endpoint security, a managed detection and response solution named CylanceGUARD, and AI-driven authentication services through CylanceEDGE. Additional products include BlackBerry Dynamics for mobile applications and BlackBerry Workspaces for secure file sharing.

BlackBerry, Stocks, Investors