The 36-month beta value for BB is also noteworthy at 1.41. There are mixed opinions on the stock, with 4 analysts rating it as a “buy,” 0 rating it as “overweight,” 10 rating it as “hold,” and 2 rating it as “sell.”
The public float for BB is 578.93M, and at present, short sellers hold a 7.48% of that float. The average trading volume of BB on April 08, 2024 was 9.93M shares.
BB) stock’s latest price update
BlackBerry Ltd (NYSE: BB)’s stock price has gone decline by -2.08 in comparison to its previous close of 2.88, however, the company has experienced a 2.17% increase in its stock price over the last five trading days. Zacks Investment Research reported 2024-04-04 that BlackBerry’s (BB) fiscal fourth-quarter performance benefits from solid momentum across Cybersecurity and IoT business units.
BB’s Market Performance
BlackBerry Ltd (BB) has experienced a 2.17% rise in stock performance for the past week, with a 5.62% rise in the past month, and a -13.23% drop in the past quarter. The volatility ratio for the week is 6.28%, and the volatility levels for the past 30 days are at 6.07% for BB. The simple moving average for the last 20 days is 0.97% for BB’s stock, with a simple moving average of -27.75% for the last 200 days.
Analysts’ Opinion of BB
Many brokerage firms have already submitted their reports for BB stocks, with RBC Capital Mkts repeating the rating for BB by listing it as a “Sector Perform.” The predicted price for BB in the upcoming period, according to RBC Capital Mkts is $4 based on the research report published on December 21, 2023 of the previous year 2023.
CIBC, on the other hand, stated in their research note that they expect to see BB reach a price target of $6.50, previously predicting the price at $4.20. The rating they have provided for BB stocks is “Neutral” according to the report published on May 18th, 2023.
TD Securities gave a rating of “Hold” to BB, setting the target price at $4 in the report published on March 31st of the previous year.
BB Trading at 1.68% from the 50-Day Moving Average
After a stumble in the market that brought BB to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -50.96% of loss for the given period.
Volatility was left at 6.07%, however, over the last 30 days, the volatility rate increased by 6.28%, as shares surge +3.30% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -3.75% lower at present.
During the last 5 trading sessions, BB rose by +2.17%, which changed the moving average for the period of 200-days by -43.03% in comparison to the 20-day moving average, which settled at $2.80. In addition, BlackBerry Ltd saw -20.34% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at BB starting from BRACE PHILIP G, who purchase 35,000 shares at the price of $2.79 back on Feb 14 ’24. After this action, BRACE PHILIP G now owns 35,000 shares of BlackBerry Ltd, valued at $97,650 using the latest closing price.
Rai Steve, the Chief Financial Officer of BlackBerry Ltd, sale 20,047 shares at $3.25 during a trade that took place back on Jan 08 ’24, which means that Rai Steve is holding 84,599 shares at $65,153 based on the most recent closing price.
Stock Fundamentals for BB
Current profitability levels for the company are sitting at:
- -0.06 for the present operating margin
- 0.6 for the gross margin
The net margin for BlackBerry Ltd stands at -0.15. The total capital return value is set at -0.05. Equity return is now at value -15.92, with -8.46 for asset returns.
Based on BlackBerry Ltd (BB), the company’s capital structure generated 0.22 points at debt to capital in total, while cash flow to debt ratio is standing at -0.01. The debt to equity ratio resting at 0.29. The interest coverage ratio of the stock is -2.48.
Currently, EBITDA for the company is 23.86 million with net debt to EBITDA at 14.78. When we switch over and look at the enterprise to sales, we see a ratio of 2.01. The receivables turnover for the company is 3.81for trailing twelve months and the total asset turnover is 0.61. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.43.
Conclusion
In summary, BlackBerry Ltd (BB) has had a mixed performance as of late. Analysts have bullish opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
