During the recent session, BlackBerry Limited (NYSE:BB)’s traded shares were 3,298,099, with the beta value of the company hitting 1.28. At the last check, the stock’s price was $9.16, reflecting an intraday gain of 2.81% or $0.25. The 52-week high for the BB share is $28.77, that puts it down -214.08% from that peak though still a striking +60.81% gain since the share price plummeted to a 52-week low of $3.59. The company’s market capitalization is $5.27 Billion, and the average intraday trading volume over the past 10 days was 17.58 Million shares, and the average trade volume was 50.74 Million shares over the past three months.
BlackBerry Limited (BB) received a consensus recommendation of Underweight from analysts. That translates to a mean rating of 3.5. BB has a Sell rating from 3 analyst(s) out of 9 analysts who have looked at this stock. 4 analyst(s) recommend to Hold the stock while none of them suggest Overweight, and 1 recommend a Buy rating for it. 1 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.05.
BlackBerry Limited (NYSE:BB): Trading Information
BlackBerry Limited (BB) registered a 2.81% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 4.42% in intraday trading to $9.51- this Wednesday, Apr 07, hitting a weekly high. The stock’s 5-day price performance is 7.83%, and it has moved by -6.77% in 30 days. Based on these gigs, the overall price performance for the year is 37.1%. The short interest in BlackBerry Limited (NYSE:BB) is 37.66 Million shares and it means that shorts have 0.74 day(s) to cover.
The consensus price target of analysts on Wall Street is $9.44, which implies an increase of 3.06% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $4.5 and $20 respectively. As a result, BB is trading at a discount of 118.34% off the target high and -50.87% off the low.
BlackBerry Limited (BB) projections and forecasts
Statistics show that BlackBerry Limited has underperformed its competitors in share price, compared to the industry in which it operates. BlackBerry Limited (BB) shares have gone up +98% during the last six months, with a year-to-date growth rate less than the industry average at -150% against 3.3%. Yet analysts are winding down their growth forecast for the fiscal year 2021. Revenue is predicted to decline -350% this quarter and then fall -145.5% in the quarter after that. In the rating firms’ projections, revenue will decline -10.3% compared to the previous financial year.
Revenue for the current quarter is expected to be $171.25 Million as predicted by 4 analyst(s). Meanwhile, a consensus of 3 analyst(s) estimates revenue growth to $180Million by the end of August 2021. As per earnings report from last fiscal year’s results, sales for the corresponding quarter totaled $214.09 Million. In this case, analysts expect current quarter sales to lessen by -20%.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings fell an estimated -37.8%. While earnings are projected to return -616.7% in 2021, the next five years will return 0% per annum.
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BlackBerry Limited (NYSE:BB)’s Biggest Investors
BlackBerry Limited insiders own 1.3% of total outstanding shares while institutional holders control 48.43%, with the float percentage being 49.07%. Primecap Management Company is the largest shareholder of the company, while 443 institutions own stock in it. As of Dec 30, 2020, the company held over 59.35 Million shares (or 10.5% of all shares), a total value of $393.52 Million in shares.
The next largest institutional holding, with 46.72 Million shares, is of Fairfax Financial Holdings Ltd/ Can’s that is approximately 8.26% of outstanding shares. At the market price on Dec 30, 2020, these shares were valued at $309.78 Million.
Also, the Mutual Funds coming in first place with the largest holdings of BlackBerry Limited (BB) shares are Primecap Odyssey Aggressive Growth Fund and Vanguard/Primecap Fund. Data provided on Jan 30, 2021 indicates that Primecap Odyssey Aggressive Growth Fund owns about 13,532,126 shares. This amounts to just over 2.39 percent of the company’s overall shares, with a $190.8 Million market value. The same data shows that the other fund manager holds slightly less at 10.43 Million, or about 1.84% of the stock, which is worth about $69.13 Million.