Short Interest in BlackBerry Limited (BB) Drops By 6.3%

BlackBerry Limited (NYSE:BB) was the recipient of a large decline in short interest in February. As of February 28th, there was short interest totalling 42,454,549 shares, a decline of 6.3% from the February 15th total of 45,315,407 shares. Based on an average daily volume of 4,485,728 shares, the short-interest ratio is presently 9.5 days.

BB has been the subject of a number of recent research reports. Zacks Investment Research raised shares of BlackBerry from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Wednesday, January 24th. Canaccord Genuity reissued a “hold” rating and set a $11.00 price target on shares of BlackBerry in a research report on Thursday, March 29th. Macquarie lifted their target price on shares of BlackBerry from $14.50 to $15.50 and gave the stock an “outperform” rating in a report on Tuesday, January 16th. Vetr cut shares of BlackBerry from a “strong-buy” rating to a “strong sell” rating and set a $8.80 target price for the company. in a report on Monday, March 12th. Finally, TD Securities lifted their target price on shares of BlackBerry from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, December 21st. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. BlackBerry has an average rating of “Hold” and a consensus price target of $10.78.

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NYSE BB traded down $0.28 during trading hours on Friday, hitting $10.19. 5,470,643 shares of the company’s stock traded hands, compared to its average volume of 6,495,841. The company has a current ratio of 5.49, a quick ratio of 5.48 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $5,469.32, a price-to-earnings ratio of 203.80 and a beta of 1.11. BlackBerry has a 52 week low of $7.51 and a 52 week high of $14.55.

BlackBerry (NYSE:BB) last announced its earnings results on Wednesday, March 28th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.06. The company had revenue of $239.00 million during the quarter, compared to analyst estimates of $217.88 million. BlackBerry had a net margin of 43.46% and a return on equity of 3.70%. The firm’s revenue for the quarter was down 16.4% compared to the same quarter last year. sell-side analysts predict that BlackBerry will post -0.06 EPS for the current year.

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About BlackBerry

BlackBerry Limited operates as security software and services company in securing, connecting, and mobilizing enterprises worldwide. The company operates in three segments: Software & Services, Mobility Solutions, and Service Access Fees (SAF). The Software & Services segment offers enterprise software and services, including mobile-first security, productivity, collaboration, and end-point management solutions for the Enterprise of Things through the BlackBerry Secure platform; BlackBerry technology solutions, such as BlackBerry QNX, Certicom, Paratek, BlackBerry Radar, and intellectual property and licensing; AtHoc, which provides secure, networked crisis communications solutions; SecuSmart that offers secure voice and text messaging solutions with encryption and anti-eavesdropping facilities; licensing and services related to BlackBerry Messenger; and cybersecurity consulting services and tools.

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