The stock of BlackBerry Limited (NYSE:BB) decreased by -$0.13 on Tuesday to finish at $4.48, down -2.82 percent. The last five days have seen an average of 2,510,740 shares of common stock traded. 18 times new highs were reached in the current year, with a gain of $1.22. The average number of shares traded over the last 20 days was 4,069,990, while the average volume over the last 50 days totaled 5,080,320.
BB stock dropped -7.25% since last month. On 08/15/23, the company’s shares reached a one-month low of $4.48. The stock touched a high of $7.20 on 06/30/23, after rallying from a low of $3.17 in 52 weeks. The price of BB stock has risen by 37.42% or $1.22 this year, reaching a new high 18 times. Still, the stock price is down -37.78% from the 52-week high.
Insider Transactions
BB stock investors should be aware that BlackBerry Limited (BB) stock had its last reported insider trading activity 49 days ago on Jun 28. On Jun 28, President of IoT ERIKSSON MATTIAS sold 11,126 shares at $5.56 each. This transaction resulted in the insider making $61,861. On Apr 03, Dickman Marjorie sold 28,237 shares at a price of US$4.63. After the transaction, the insider now owns 35,372 shares. President of Cyber Security GIAMATTEO JOHN JOSEPH had earlier sold 30,239 shares on Jan 03 for $3.42 a share. The transaction was completed for $103,417.
Valuation Metrics
Beta for the stock is 1.54. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 3.07, the price-to-book (PB) ratio of 3.05.
Financial Health
For the three months ended May 30, BlackBerry Limited’s quick ratio was 0.90, while its current ratio was 0.90, indicating its inability to pay off its debt. As far as profitability goes, gross margin for the trailing twelve months is 57.40% percent. BlackBerry Limited’s EBITDA margin for the year ended May 30 was -18.14%, whereas its operating margin stood at -64.90% for the same period. Based on annual data, it had gross profit of $419.0 million and revenue of $656.0 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. BB’s return on assets (ROA) during the last 12 months has been -28.50%. There was a -60.40% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -51.40%.
Earnings Surprise
According to BlackBerry Limited’s quarterly financial report for the quarter that ended May 30, it had $158.0 million in cash and short-term investments. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $373.0 million, while revenues rose by 54.96% to $151.0 million. It was predicted that BlackBerry Limited’s quarterly earnings would be $0.06, but it ended up being -$0.05. EBITDA was $5.0 million for the quarter. Equity owned by shareholders amounts to $583.24 million.
Technical Picture
Here’s a quick look at BlackBerry Limited’s (BB) price momentum from a technical perspective. As of 15 August, the RSI 9-day stood at 33.52%, suggesting the stock is Neutral, with a 21.67% historical volatility rate.
The stochastic %K and %D were 16.11% and 15.03% respectively, while the average true range (ATR) was 0.15. Based on the 14-day stochastic reading of 0.00%, the RSI (14) reading is 38.02%. On the 9-day MACD Oscillator, the stock is at -0.08, and the 14-day reading is at -0.16.
Analyst Ratings
In its most recent analyst report, CIBC raised its rating on BlackBerry Limited (NYSE: BB) to a Neutral. Prior to this, analysts firm rated the stock as a Sector underperform. Analysts have assigned BlackBerry Limited (BB) an Hold rating. BB is a stock that is recommended for selling by 0 brokerage firms, while 8 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 1 other recommend it as a buy.
What is BB’s price target for the next 12 months?
The current consensus forecast for the stock is between $4.50 and $12.00, with a median target price of $5.50. In analyzing these forecasts, the average price target given by analysts for BlackBerry Limited (BB) is $6.48.
