BlackBerry Limited [BB] Stock trading around $4.43 per share: What’s Next?

BlackBerry Limited [NYSE: BB] stock went on an upward path that rose over 0.45% on Tuesday, amounting to a one-week price decrease of less than -3.28%. The company report on December 7, 2022 that Human Horizons Selects BlackBerry to Power Its Ultra-Futuristic Digital GT, HiPhi Z Vehicle.

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BlackBerry Limited (NYSE: BB; TSX: BB) today announced that Human Horizons, a leading Chinese new mobility and intelligent driving technology company, has selected BlackBerry QNX technology to power the autonomous driving controller and intelligent digital cockpit controller of its second flagship vehicle, the HiPhi Z.

Leveraging the QNX® Neutrino® Realtime Operating System (RTOS), QNX® OS for Safety and QNX® Hypervisor, the HiPhi Z combines the latest in technological innovation with style and comfort, offering customers an unparalleled next-level driving experience.

Over the last 12 months, BB stock dropped by -48.85%. The one-year BlackBerry Limited stock forecast points to a potential upside of 21.45. The average equity rating for BB stock is currently 3.20, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $2.56 billion, with 577.31 million shares outstanding and 570.08 million shares in the current float. Compared to the average trading volume of 6.28M shares, BB stock reached a trading volume of 5925399 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 $5.64 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 3.20. 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.

Robert W. Baird have made an estimate for BlackBerry Limited shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on August 12, 2022. The new note on the price target was released on March 21, 2022, representing the official price target for BlackBerry Limited stock. Previously, the target price had yet another raise to $10, while Canaccord Genuity analysts kept a Hold rating on BB stock.

The Average True Range (ATR) for BlackBerry Limited is set at 0.22, with the Price to Sales ratio for BB stock in the period of the last 12 months amounting to 3.63. The Price to Book ratio for the last quarter was 1.93, with the Price to Cash per share for the same quarter was set at 1.11.

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 -3.28. With this latest performance, BB shares dropped by -10.87% in over the last four-week period, additionally sinking by -13.81% over the last 6 months – not to mention a drop of -48.85% 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 41.42, with the RSI for the last a single of trading hit 37.57, and the three-weeks RSI is set at 43.10 for BlackBerry Limited [BB]. The present Moving Average for the last 50 days of trading for this stock 4.60, while it was recorded at 4.40 for the last single week of trading, and 5.72 for the last 200 days.

Insight into BlackBerry Limited Fundamentals:

BlackBerry Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.80 and a Current Ratio set at 1.80.

BlackBerry Limited [BB] Insider Position Details

There are presently around $1,123 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 37,861,122 shares of the stock with an approximate value of $167.72 million in BB stocks shares; and FIFTHDELTA LTD, currently with $140.53 million in BB stock with ownership of nearly 39.95% of the company’s market capitalization.

Positions in BlackBerry Limited stocks held by institutional investors increased at the end of December and at the time of the December reporting period, where 90 institutional holders increased their position in BlackBerry Limited [NYSE:BB] by around 62,170,771 shares. Additionally, 111 investors decreased positions by around 30,242,829 shares, while 72 investors held positions by with 161,032,296 shares. The mentioned changes placed institutional holdings at 253,445,896 shares, according to the latest SEC report filing. BB stock had 21 new institutional investments in for a total of 24,819,991 shares, while 37 institutional investors sold positions of 523,243 shares during the same period.


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