BlackBerry Target of Unusually High Options Trading (NYSE:BB)

BlackBerry Limited (NYSE:BBGet Free Report) was the target of some unusual options trading activity on Wednesday. Stock traders acquired 48,033 call options on the company. This is an increase of approximately 65% compared to the average daily volume of 29,033 call options.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fox Run Management L.L.C. bought a new stake in BlackBerry in the 3rd quarter valued at about $195,000. Barclays PLC boosted its stake in shares of BlackBerry by 3.1% in the third quarter. Barclays PLC now owns 256,199 shares of the company’s stock valued at $1,207,000 after buying an additional 7,785 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in BlackBerry during the third quarter worth approximately $48,000. Citigroup Inc. increased its stake in BlackBerry by 8.1% during the 3rd quarter. Citigroup Inc. now owns 282,592 shares of the company’s stock worth $1,344,000 after acquiring an additional 21,100 shares during the period. Finally, Rathbones Group PLC increased its stake in BlackBerry by 52.0% during the 3rd quarter. Rathbones Group PLC now owns 15,196 shares of the company’s stock worth $72,000 after acquiring an additional 5,196 shares during the period. 54.48% of the stock is owned by institutional investors and hedge funds.

BlackBerry Stock Performance

Shares of NYSE BB traded down $0.10 during mid-day trading on Wednesday, reaching $2.76. 7,533,965 shares of the company were exchanged, compared to its average volume of 9,976,965. The stock has a market capitalization of $1.63 billion, a P/E ratio of -11.58 and a beta of 1.40. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.25. The company’s 50-day simple moving average is $2.88 and its 200-day simple moving average is $3.15. BlackBerry has a twelve month low of $2.46 and a twelve month high of $5.75.

BlackBerry (NYSE:BBGet Free Report) last issued its quarterly earnings data on Wednesday, April 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.06. BlackBerry had a negative return on equity of 0.24% and a negative net margin of 15.24%. The company had revenue of $173.00 million during the quarter, compared to analysts’ expectations of $150.47 million. During the same quarter in the previous year, the company posted ($0.04) earnings per share. The business’s revenue was up 14.6% on a year-over-year basis. As a group, research analysts predict that BlackBerry will post -0.09 earnings per share for the current year.

Analysts Set New Price Targets

BB has been the subject of several recent research reports. Royal Bank of Canada reissued a “sector perform” rating and set a $3.00 price target on shares of BlackBerry in a research report on Thursday, April 4th. Robert W. Baird dropped their target price on shares of BlackBerry from $4.50 to $3.50 and set a “neutral” rating on the stock in a report on Wednesday, February 14th. StockNews.com downgraded shares of BlackBerry from a “hold” rating to a “sell” rating in a research note on Wednesday, February 21st. Finally, CIBC lowered their price target on BlackBerry from $4.25 to $3.50 and set a “neutral” rating on the stock in a research report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat.com, BlackBerry presently has an average rating of “Hold” and an average price target of $4.08.

Read Our Latest Stock Analysis on BB

About BlackBerry

(Get Free Report)

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.

Further Reading

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