BlackBerry Limited [BB] moved up 1.54: Why It’s Important


BlackBerry Limited [NYSE: BB] gained 1.54% or 0.08 points to close at $5.27 with a heavy trading volume of 8780045 shares. The company report on June 21, 2022 that BlackBerry IVY Wins Frost & Sullivan Technology Leadership Award.

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BlackBerry Limited (NYSE: BB; TSX: BB) today announced that Frost & Sullivan has presented BlackBerry IVY™ with the 2022 Enabling Technology Leadership Award for the edge-to-cloud connected and autonomous vehicles industry.  Applying a rigorous evaluation process, Frost & Sullivan recognizes companies who are consistently at the forefront of innovation and growth in their respective industries, and have a visionary understanding of the future.

BlackBerry IVY uniquely meets the needs of the automotive industry as it standardizes data access across all vehicles, regardless of brand, operating system, and cloud deployment model.  BlackBerry IVY enables automakers to control ownership of vehicle data, protects user data privacy, applies intelligence to data capture, and ensures data is secure.  BlackBerry IVY also paves the way for smart cities, by enabling communication between vehicles, infrastructure, and third parties that is seamless, benefiting stakeholders across the connected-autonomous community including automakers, governments, enterprises, developers, and consumers.

It opened the trading session at $5.40, the shares rose to $5.45 and dropped to $5.26, the range by which the price of stock traded the whole day. The daily chart for BB points out that the company has recorded -42.53% loss over the past six months. However, it is still -12.13% lower than its most recent low trading price.

If we look at the average trading volume of 9.40M shares, BB reached to a volume of 8780045 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about 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 0.37, with the Price to Sales ratio for BB stock in the period of the last 12 months amounting to 4.15. The Price to Book ratio for the last quarter was 1.95, with the Price to Cash per share for the same quarter was set at 1.26.

Trading performance analysis for BB stock

BlackBerry Limited [BB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.73. With this latest performance, BB shares dropped by -12.31% in over the last four-week period, additionally sinking by -42.53% over the last 6 months – not to mention a drop of -58.83% 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 43.08, with the RSI for the last a single of trading hit 42.05, and the three-weeks RSI is set at 43.64 for BlackBerry Limited [BB]. The present Moving Average for the last 50 days of trading for this stock 5.88, while it was recorded at 5.22 for the last single week of trading, and 8.15 for the last 200 days.

BlackBerry Limited [BB]: A deeper dive into fundamental analysis

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.

An analysis of insider ownership at BlackBerry Limited [BB]

There are presently around $1,132 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 $203.06 million in BB stocks shares; and ALLIANZ ASSET MANAGEMENT GMBH, currently with $130.75 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 112 institutional holders increased their position in BlackBerry Limited [NYSE:BB] by around 15,875,737 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 218,047,606 shares, according to the latest SEC report filing. BB stock had 42 new institutional investments in for a total of 4,038,350 shares, while 49 institutional investors sold positions of 1,595,581 shares during the same period.