BlackBerry Limited [NYSE: BB] traded at a low on 03/10/23, posting a -1.91 loss after which it closed the day’ session at $3.59. The company report on March 6, 2023 that BlackBerry Reports Preliminary Fourth Quarter and Full Fiscal Year 2023 Results.
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Preliminary fiscal year 2023 revenue for BlackBerry is estimated to be approximately $656 million.
IoT business unit revenue expected to be approximately $206 million, representing 16% year over year growth and in line with outlook previously provided.
The results of the trading session contributed to over 13493851 shares changing hands. Over the past one week, the price volatility of BlackBerry Limited stands at 5.89% while the volatility over the past one month is 4.22%.
The market cap for BB stock reached $2.12 billion, with 578.95 million shares outstanding and 570.08 million shares in the current float. Compared to the average trading volume of 7.18M shares, BB reached a trading volume of 13493851 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say 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 $4.81 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 0.19, with the Price to Sales ratio for BB stock in the period of the last 12 months amounting to 3.07. The Price to Book ratio for the last quarter was 1.55, with the Price to Cash per share for the same quarter was set at 0.76.
How has BB stock performed recently?
BlackBerry Limited [BB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.86. With this latest performance, BB shares dropped by -17.85% in over the last four-week period, additionally sinking by -38.00% over the last 6 months – not to mention a drop of -46.74% 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 38.20, with the RSI for the last a single of trading hit 35.73, and the three-weeks RSI is set at 40.32 for BlackBerry Limited [BB]. The present Moving Average for the last 50 days of trading for this stock 3.96, while it was recorded at 3.67 for the last single week of trading, and 4.99 for the last 200 days.
BlackBerry Limited [BB]: Deeper insight into the 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 1.00 and a Current Ratio set at 1.00.
Insider trade positions for BlackBerry Limited [BB]
There are presently around $991 million, or 56.60% of BB stock, in the hands of institutional investors. The top three institutional holders of BB stocks are: FIFTHDELTA LTD with ownership of 57,923,581, which is approximately 82.602% of the company’s market cap and around 11.20% of the total institutional ownership; FAIRFAX FINANCIAL HOLDINGS LTD/ CAN, holding 46,724,700 shares of the stock with an approximate value of $167.74 million in BB stocks shares; and PRIMECAP MANAGEMENT CO/CA/, currently with $129.16 million in BB stock with ownership of nearly -4.978% of the company’s market capitalization.
Positions in BlackBerry Limited stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 99 institutional holders increased their position in BlackBerry Limited [NYSE:BB] by around 59,481,832 shares. Additionally, 123 investors decreased positions by around 36,438,432 shares, while 51 investors held positions by with 180,230,049 shares. The mentioned changes placed institutional holdings at 276,150,313 shares, according to the latest SEC report filing. BB stock had 38 new institutional investments in for a total of 1,319,857 shares, while 48 institutional investors sold positions of 8,579,879 shares during the same period.