BlackBerry Limited [BB] moved down -5.36: Why It’s Important

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BlackBerry Limited [NYSE: BB] stock went on a downward path that fall over -5.36% on Friday, amounting to a one-week price decrease of less than -3.95%. The company report on June 2, 2022 that Absolute Software Adds BlackBerry’s CylancePROTECT to Application Persistence Ecosystem.


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Enables joint customers to monitor and autonomously self-heal BlackBerry’s leading Endpoint Protection Platform (EPP), ensuring it stays healthy and working effectively.

Absolute Software™ (NASDAQ: ABST) (TSX: ABST), a leader in self-healing endpoint and secure access solutions, today announced a partnership with BlackBerry to enable joint customers to augment CylancePROTECT® with Absolute’s Application Persistence™ capabilities. With this addition to the company’s Application Persistence ecosystem, joint Absolute Resilience® customers can extend Absolute’s firmware-embedded, self-healing device connection to BlackBerry’s leading Endpoint Protection Platform (EPP) – ensuring it remains healthy, installed, and working effectively to protect their devices and data.

Over the last 12 months, BB stock dropped by -57.94%. The one-year BlackBerry Limited stock forecast points to a potential upside of 29.67. The average equity rating for BB stock is currently 3.90, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $3.53 billion, with 575.80 million shares outstanding and 570.21 million shares in the current float. Compared to the average trading volume of 8.85M shares, BB stock reached a trading volume of 9822348 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on BlackBerry Limited [BB]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BB shares is $8.29 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BB stock is a recommendation set at 3.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

RBC Capital Mkts have made an estimate for BlackBerry Limited shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on March 21, 2022. The new note on the price target was released on August 18, 2021, representing the official price target for BlackBerry Limited stock.

The Average True Range (ATR) for BlackBerry Limited is set at 0.41, with the Price to Sales ratio for BB stock in the period of the last 12 months amounting to 4.91. The Price to Book ratio for the last quarter was 2.16, with the Price to Cash per share for the same quarter was set at 1.18.

BB Stock Performance Analysis:

BlackBerry Limited [BB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.95. With this latest performance, BB shares dropped by -4.74% in over the last four-week period, additionally sinking by -37.18% over the last 6 months – not to mention a drop of -57.94% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BB stock in for the last two-week period is set at 47.93, with the RSI for the last a single of trading hit 47.79, and the three-weeks RSI is set at 47.31 for BlackBerry Limited [BB]. The present Moving Average for the last 50 days of trading for this stock 6.27, while it was recorded at 6.07 for the last single week of trading, and 8.44 for the last 200 days.

Insight into BlackBerry Limited Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and BlackBerry Limited [BB] shares currently have an operating margin of -29.81 and a Gross Margin at +42.06. BlackBerry Limited’s Net Margin is presently recorded at +1.67.

Return on Equity for this stock inclined to 0.78, with Return on Assets sitting at 0.44.

BlackBerry Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.60 and a Current Ratio set at 2.60.

BlackBerry Limited [BB] Insider Position Details

There are presently around $1,271 million, or 56.60% of BB stock, in the hands of institutional investors. The top three institutional holders of BB stocks are: FAIRFAX FINANCIAL HOLDINGS LTD/ CAN with ownership of 46,724,700, which is approximately 0% of the company’s market cap and around 11.20% of the total institutional ownership; PRIMECAP MANAGEMENT CO/CA/, holding 39,124,922 shares of the stock with an approximate value of $228.1 million in BB stocks shares; and ALLIANZ ASSET MANAGEMENT GMBH, currently with $146.87 million in BB stock with ownership of nearly -0.092% of the company’s market capitalization.

Positions in BlackBerry Limited stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 113 institutional holders increased their position in BlackBerry Limited [NYSE:BB] by around 15,891,218 shares. Additionally, 139 investors decreased positions by around 18,910,000 shares, while 67 investors held positions by with 183,261,869 shares. The mentioned changes placed institutional holdings at 218,063,087 shares, according to the latest SEC report filing. BB stock had 43 new institutional investments in for a total of 4,053,831 shares, while 49 institutional investors sold positions of 1,595,581 shares during the same period.

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