BlackBerry Limited [BB] moved down -4.16: Why It’s Important

BlackBerry Limited [NYSE: BB] price plunged by -4.16 percent to reach at -$0.19. The company report on April 5, 2023 that BlackBerry Introduces Industry-First Integrated Solution to Assure Secure Bi-Directional Response Communications During Cyber Incidents.

BlackBerry integrates award-winning CylanceGUARD and BlackBerry AtHoc technologies for “combat-ready” cyber event continuity planning and response.

BlackBerry Limited (NYSE: BB) (TSX: BB) today announced a new integration that combines the award-winning Managed Detection and Response (MDR) protection of CylanceGUARD® with secure Critical Event Management (CEM) powered by BlackBerry® AtHoc®. In the event of a cyberattack, organizations that select a CylanceGUARD subscription with AtHoc features will benefit from secure, multi-channel internal and stakeholder communications for incident response actions, with the ability to alert, communicate and collaborate from within the CylanceGUARD platform, even when the usual communications infrastructure is not available.

A sum of 5126188 shares traded at recent session while its average daily volume was at 6.41M shares. BlackBerry Limited shares reached a high of $4.645 and dropped to a low of $4.38 until finishing in the latest session at $4.38.

The one-year BB stock forecast points to a potential upside of 8.94. The average equity rating for BB stock is currently 3.20, trading closer to a bullish pattern in the stock market.

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 $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.

TD Securities have made an estimate for BlackBerry Limited shares, keeping their opinion on the stock as Hold, with their previous recommendation back on March 31, 2023. While these analysts kept the previous recommendation, Robert W. Baird raised their target price to Neutral. The new note on the price target was released on August 12, 2022, representing the official price target for BlackBerry Limited stock. Previously, the target price had yet another raise to $7, while RBC Capital Mkts analysts kept a Sector Perform rating on BB stock.

The Average True Range (ATR) for BlackBerry Limited is set at 0.18, with the Price to Sales ratio for BB stock in the period of the last 12 months amounting to 3.88. The Price to Book ratio for the last quarter was 2.98, with the Price to Cash per share for the same quarter was set at 0.73.

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 -5.60. With this latest performance, BB shares gained by 22.35% in over the last four-week period, additionally sinking by -1.13% over the last 6 months – not to mention a drop of -35.59% 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 58.10, with the RSI for the last a single of trading hit 57.28, and the three-weeks RSI is set at 56.77 for BlackBerry Limited [BB]. The present Moving Average for the last 50 days of trading for this stock 4.06, while it was recorded at 4.51 for the last single week of trading, and 4.81 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 -34.15 and a Gross Margin at +49.24. BlackBerry Limited’s Net Margin is presently recorded at -111.89.

Return on Equity for this stock declined to -61.43, with Return on Assets sitting at -34.81.

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 Position Details

There are presently around $1,240 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 $213.53 million in BB stocks shares; and PRIMECAP MANAGEMENT CO/CA/, currently with $164.41 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 94 institutional holders increased their position in BlackBerry Limited [NYSE:BB] by around 58,760,193 shares. Additionally, 120 investors decreased positions by around 39,629,765 shares, while 53 investors held positions by with 172,892,281 shares. The mentioned changes placed institutional holdings at 271,282,239 shares, according to the latest SEC report filing. BB stock had 34 new institutional investments in for a total of 1,251,029 shares, while 46 institutional investors sold positions of 11,811,365 shares during the same period.