BlackBerry (NYSE:BB) Cut to “Sell” at StockNews.com

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

BB has been the topic of several other reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $3.00 price target on shares of BlackBerry in a research report on Friday, September 27th. Canaccord Genuity Group boosted their target price on shares of BlackBerry from $2.70 to $2.80 and gave the stock a “hold” rating in a report on Friday, October 18th. Finally, CIBC raised their target price on shares of BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, BlackBerry has a consensus rating of “Hold” and an average price target of $3.23.

BlackBerry Trading Up 1.3 %

BlackBerry stock opened at $2.35 on Wednesday. BlackBerry has a 12-month low of $2.01 and a 12-month high of $4.44. The stock has a market capitalization of $1.39 billion, a PE ratio of -9.40 and a beta of 1.42. The firm has a 50 day simple moving average of $2.41 and a 200-day simple moving average of $2.48. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.44.

BlackBerry (NYSE:BB) last issued its quarterly earnings results on Thursday, September 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. BlackBerry had a negative return on equity of 3.38% and a negative net margin of 21.66%. The firm had revenue of $145.00 million during the quarter, compared to analyst estimates of $138.82 million. During the same period last year, the company posted ($0.06) EPS. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, equities research analysts expect that BlackBerry will post -0.06 EPS for the current fiscal year.

Insider Transactions at BlackBerry

In other news, insider Philip S. Kurtz sold 15,005 shares of BlackBerry stock in a transaction on Saturday, September 28th. The stock was sold at an average price of $2.53, for a total transaction of $37,962.65. Following the transaction, the insider now owns 30,129 shares in the company, valued at approximately $76,226.37. The trade was a 33.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BlackBerry

A number of institutional investors have recently bought and sold shares of the business. EP Wealth Advisors LLC purchased a new stake in BlackBerry in the 2nd quarter worth approximately $28,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of BlackBerry by 83.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock worth $29,000 after acquiring an additional 5,349 shares during the last quarter. Quantinno Capital Management LP purchased a new stake in shares of BlackBerry during the third quarter worth $38,000. Werba Rubin Papier Wealth Management acquired a new stake in BlackBerry during the second quarter valued at $43,000. Finally, Viewpoint Capital Management LLC purchased a new position in BlackBerry in the second quarter valued at about $50,000. 54.48% of the stock is currently owned by institutional investors and hedge funds.

BlackBerry Company Profile

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.