BlackBerry Ltd (NYSE:BB) finished Friday with a subtraction of -$0.05 to close at $4.71, a downside of -1.05 percent. An average of 7,835,160 shares of common stock have been traded in the last five days. There was a fall of -$0.45 in the past week, and it reached a new high 11 times over the past 12 months. The last 20 days have seen an average of 8,357,705 shares traded, while the 50-day average volume stands at 6,379,362.
BB stock has decreased by -14.67% in the last month. The company shares reached their 1-month lowest point of $4.49 on 09/08/23. With the stock rallying to its 52-week high on 09/01/23, shares of the company touched a low of $3.17 and a high of $5.75 in 52 weeks. It has reached a new high 19 times so far this year and achieved 44.48% or $1.45 in price. In spite of this, the price is down -18.09% from the 52-week high.
Insider Transactions
BB stock investors should be aware that BlackBerry Ltd (BB) stock had its last reported insider trading activity 2 days ago on Sep 28. In this transaction, the insider spent $72,197. President of IoT, ERIKSSON MATTIAS, disposed of 11,126 shares at a price of $5.56 on Jun 28. The insider now owns more than $61,861 worth of shares. Prior to that, Chief Gv Aff & Pub Pol Officer Dickman Marjorie went on to Sale 28,237 shares at $4.63 each on Apr 03. An amount of $130,737 was transacted.
Valuation Metrics
BlackBerry Ltd (BB) stock’s beta is 1.53. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 3.33, the price-to-book (PB) ratio at 3.32.
Financial Health
The quick ratio of BlackBerry Ltd for the three months ended August 30 was 0.95, and the current ratio was 0.90, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.06 and a total debt to equity ratio of 0.52 for the quarter ending August 30. Its gross profit as reported stood at $419.0 million compared to revenue of $656.0 million.
Earnings Surprise
In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$11.0 million in the quarter, while revenues were shrunk -1545.45%. The analyst consensus anticipated BlackBerry Ltd’s latest quarter earnings to come in at -$0.06 per share, but it turned out to be -$0.04, a 33.30% surprise. For the quarter, EBITDA amounted to $5.0 million. Shareholders own equity worth $583.24 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at BlackBerry Ltd (BB) price momentum. RSI 9-day as of the close on 29 September was 32.77%, suggesting the stock is Neutral, with historical volatility in this time frame at 19.49%.
As of today, BB’s price is $4.85 -8.72% or -$0.45 from its 5-day moving average. BB is currently trading -15.29% lower than its 20-day SMA and -5.42% lower than its 100-day SMA. However, the stock’s current price level is +1.29% above the SMA50 and +6.80% above the SMA200.
The stochastic %K and %D were 20.61% and 28.30%, respectively, and the average true range (ATR) was 0.22. With the 14-day stochastic at 13.76% and the average true range at 0.23, the RSI (14) stands at 40.18%. The stock has reached -0.19 on the 9-day MACD Oscillator while the 14-day reading was at -0.33.
Analyst Ratings
CIBC upgraded BlackBerry Ltd (NYSE: BB) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as a Sector underperform. The consensus rating for BlackBerry Ltd (BB) among analysts is Hold. According to current brokerage recommendations, 0 brokerage firms advise that investors sell BB, while 8 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 2 others rate it as a “buy”.
What is BB’s price target for the next 12 months?
Analysts predict a range of price targets between $4.50 and $12.00, with a median target of $6.00. Taking a look at these predictions, the average price target given by analysts for BlackBerry Ltd (BB) stock is $6.39.
