BlackBerry Limited [BB] Revenue clocked in at $861.00 million, up 60.12% YTD: What’s Next?

BlackBerry Limited [NYSE: BB] traded at a high on 09/11/23, posting a 14.47 gain after which it closed the day’ session at $5.22. The company report on September 11, 2023 at 8:00 AM that BlackBerry Launches ‘Intrinsically Safe’ Certified Solution for Hazardous Materials Carriers.

The new release from BlackBerry comes at a time of increased regulatory scrutiny of the rail industry following several high profile safety incidents.

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BlackBerry Limited (NYSE: BB; TSX: BB) today announced that the company is launching a new series of BlackBerry Radar® devices – H2M IS – for hazardous materials carriers. The new series is backed by an ‘Intrinsically Safe’ certification designation, enabling BlackBerry Radar, an asset tracking solution, to target transportation and logistics companies that move hazardous materials, including fuel haulers, tank carriers, ocean shipping lines and railroads.

The results of the trading session contributed to over 14936758 shares changing hands. Over the past one week, the price volatility of BlackBerry Limited stands at 6.08% while the volatility over the past one month is 4.74%.

The market cap for BB stock reached $3.11 billion, with 582.81 million shares outstanding and 573.09 million shares in the current float. Compared to the average trading volume of 5.57M shares, BB reached a trading volume of 14936758 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 $5.72 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 2.80. 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.

CIBC have made an estimate for BlackBerry Limited shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on May 18, 2023.

The Average True Range (ATR) for BlackBerry Limited is set at 0.28, with the Price to Sales ratio for BB stock in the period of the last 12 months amounting to 3.61. The Price to Book ratio for the last quarter was 3.55, with the Price to Cash per share for the same quarter was set at 0.87.

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 -6.79. With this latest performance, BB shares gained by 11.54% in over the last four-week period, additionally plugging by 45.40% over the last 6 months – not to mention a drop of -9.84% 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 54.81, with the RSI for the last a single of trading hit 54.67, and the three-weeks RSI is set at 54.39 for BlackBerry Limited [BB]. The present Moving Average for the last 50 days of trading for this stock 4.87, while it was recorded at 5.12 for the last single week of trading, and 4.50 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 -34.15 and a Gross Margin at +49.24. BlackBerry Limited’s Net Margin is presently recorded at -111.89.

Return on Total Capital for BB is now -13.07, given the latest momentum, and Return on Invested Capital for the company is -48.99. Return on Equity for this stock declined to -61.43, with Return on Assets sitting at -34.81. When it comes to the capital structure of this company, BlackBerry Limited [BB] has a Total Debt to Total Equity ratio set at 51.69. Additionally, BB Total Debt to Total Capital is recorded at 34.08, with Total Debt to Total Assets ending up at 26.38. Long-Term Debt to Equity for the company is recorded at 6.07, with the Long-Term Debt to Total Capital now at 4.00.

Reflecting on the efficiency of the workforce at the company, BlackBerry Limited [BB] managed to generate an average of -$303,208 per employee. Receivables Turnover for the company is 4.29 with a Total Asset Turnover recorded at a value of 0.31.BlackBerry Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 0.90.

Insider trade positions for BlackBerry Limited [BB]

The top three institutional holders of BB stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in BB stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in BB stock with ownership which is approximately 5.7381%.

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