BlackBerry Ltd (NYSE: BB)’s stock price has gone decline by -2.55 in comparison to its previous close of 2.35, however, the company has experienced a -2.97% decrease in its stock price over the last five trading days. fool.com reported 2024-08-30 that BigBear.ai is gaining traction with large contracts, showing a robust potential for long-term growth. Outbrain is showing bullish signs despite a challenging market entry, right at the start of a sector-wide downturn.
Is It Worth Investing in BlackBerry Ltd (NYSE: BB) Right Now?
The 36-month beta value for BB is also noteworthy at 1.39. 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.”
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The public float for BB is 579.80M, and at present, short sellers hold a 5.43% of that float. The average trading volume of BB on September 03, 2024 was 8.02M shares.
BB’s Market Performance
BB stock saw an increase of -2.97% in the past week, with a monthly gain of 3.15% and a quarterly increase of -17.92%. The volatility ratio for the week is 3.37%, and the volatility levels for the last 30 days are 3.90% for BlackBerry Ltd (BB). The simple moving average for the past 20 days is -0.02% for BB’s stock, with a -21.16% simple moving average for the past 200 days.
Analysts’ Opinion of BB
RBC Capital Mkts, on the other hand, stated in their research note that they expect to see BB reach a price target of $4, previously predicting the price at $4.50. The rating they have provided for BB stocks is “Sector Perform” according to the report published on December 21st, 2023.
CIBC gave a rating of “Neutral” to BB, setting the target price at $6.50 in the report published on May 18th of the previous year.
BB Trading at -3.11% 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 -60.17% of loss for the given period.
Volatility was left at 3.90%, however, over the last 30 days, the volatility rate increased by 3.37%, as shares surge +7.18% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +0.65% upper at present.
During the last 5 trading sessions, BB fell by -1.91%, which changed the moving average for the period of 200-days by -38.27% in comparison to the 20-day moving average, which settled at $2.30. In addition, BlackBerry Ltd saw -35.31% 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 ERIKSSON MATTIAS, who sale 52,549 shares at the price of $2.45 back on Jun 28 ’24. After this action, ERIKSSON MATTIAS now owns 214,440 shares of BlackBerry Ltd, valued at $128,745 using the latest closing price.
BRACE PHILIP G, the Director of BlackBerry Ltd, purchase 35,000 shares at $2.79 during a trade that took place back on Feb 14 ’24, which means that BRACE PHILIP G is holding 35,000 shares at $97,650 based on the most recent closing price.
Stock Fundamentals for BB
Current profitability levels for the company are sitting at:
- -0.13 for the present operating margin
- 0.66 for the gross margin
The net margin for BlackBerry Ltd stands at -0.26. The total capital return value is set at -0.08. Equity return is now at value -20.11, with -10.74 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 -0.55. The debt to equity ratio resting at 0.29. The interest coverage ratio of the stock is -16.67.
Currently, EBITDA for the company is 23.86 million with net debt to EBITDA at -3.04. When we switch over and look at the enterprise to sales, we see a ratio of 2.33. The receivables turnover for the company is 3.62for trailing twelve months and the total asset turnover is 0.47. 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 bad 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.
