BlackBerry Limited [NYSE: BB] surged by $0.16 during the normal trading session on Tuesday and reaching a high of $3.82 during the day while it closed the day at $3.77. The company report on March 21, 2023 that BlackBerry Announces New Patent Sale Transaction with Leading Patent Monetization Company for Up to $900 Million.
Executes Agreement with Key Patent Innovations; Terminates Agreement with Catapult.
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BlackBerry Limited (NYSE: BB; TSX: BB) announced today that it has entered into an agreement to sell substantially all of its non-core patents and patent applications to Malikie Innovations Limited (“Malikie”), a newly-formed subsidiary of Key Patent Innovations Limited (“KPI”), a leading intellectual property monetization company, for a combination of cash at closing and potential future royalties in the aggregate amount of up to $900 million.
BlackBerry Limited stock has also gained 1.34% of its value over the past 7 days. However, BB stock has declined by -10.66% in the 3 months of the year. Over the past six months meanwhile, it has lost -34.32% and gained 15.64% year-on date.
The market cap for BB stock reached $2.17 billion, with 578.95 million shares outstanding and 570.08 million shares in the current float. Compared to the average trading volume of 7.12M shares, BB reached a trading volume of 5068769 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to 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 0.17, with the Price to Sales ratio for BB stock in the period of the last 12 months amounting to 3.14. The Price to Book ratio for the last quarter was 1.63, with the Price to Cash per share for the same quarter was set at 0.78.
BB stock trade performance evaluation
BlackBerry Limited [BB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.34. With this latest performance, BB shares dropped by -9.16% in over the last four-week period, additionally sinking by -34.32% over the last 6 months – not to mention a drop of -46.37% 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 47.34, with the RSI for the last a single of trading hit 50.23, and the three-weeks RSI is set at 46.47 for BlackBerry Limited [BB]. The present Moving Average for the last 50 days of trading for this stock 4.01, while it was recorded at 3.70 for the last single week of trading, and 4.91 for the last 200 days.
BlackBerry Limited [BB]: An insightful look at the core 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 Total Capital for BB is now -9.40, given the latest momentum, and Return on Invested Capital for the company is 0.53. Return on Equity for this stock inclined to 0.78, with Return on Assets sitting at 0.44. When it comes to the capital structure of this company, BlackBerry Limited [BB] has a Total Debt to Total Equity ratio set at 38.62. Additionally, BB Total Debt to Total Capital is recorded at 27.86, with Total Debt to Total Assets ending up at 23.41. Long-Term Debt to Equity for the company is recorded at 36.83, with the Long-Term Debt to Total Capital now at 26.56.
Reflecting on the efficiency of the workforce at the company, BlackBerry Limited [BB] managed to generate an average of $4,523 per employee. Receivables Turnover for the company is 3.65 with a Total Asset Turnover recorded at a value of 0.26.BlackBerry Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.00.
BlackBerry Limited [BB]: Insider Ownership positions
There are presently around $1,041 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 $176.15 million in BB stocks shares; and PRIMECAP MANAGEMENT CO/CA/, currently with $135.63 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, 124 investors decreased positions by around 36,443,632 shares, while 51 investors held positions by with 180,259,449 shares. The mentioned changes placed institutional holdings at 276,184,913 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.