Is BlackBerry Ltd’s (NYSE: BB) 5.64% Gain This Week Telling Us Something New?

During the last session, BlackBerry Ltd (NYSE:BB)’s traded shares were 8.61 million, with the beta value of the company hitting 1.42. At the end of the trading day, the stock’s price was $2.81, reflecting an intraday gain of 0.36% or $0.01. The 52-week high for the BB share is $5.75, that puts it down -104.63 from that peak though still a striking 12.46% gain since the share price plummeted to a 52-week low of $2.46. The company’s market capitalization is $1.64B, and the average intraday trading volume over the past 10 days was 7.86 million shares, and the average trade volume was 9.61 million shares over the past three months.

BlackBerry Ltd (NYSE:BB) trade information

BlackBerry Ltd (BB) registered a 0.36% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 0.36% in intraday trading to $2.81, hitting a weekly high. The stock’s 5-day price performance is 5.64%, and it has moved by 4.85% in 30 days. Based on these gigs, the overall price performance for the year is -38.38%. The short interest in BlackBerry Ltd (NYSE:BB) is 43.29 million shares and it means that shorts have 4.43 day(s) to cover.

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BlackBerry Ltd (BB) estimates and forecasts

Statistics show that BlackBerry Ltd has outperformed its competitors in share price, compared to the industry in which it operates. BlackBerry Ltd (BB) shares have gone down -36.14% during the last six months, with a year-to-date growth rate more than the industry average at 100.00% against 16.30. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -50.00% this quarter and then drop -133.30% in the quarter after that. In the rating firms’ projections, revenue will increase 26.60% compared to the previous financial year.

Revenue for the current quarter is expected to be $154.78 million as predicted by 3 analyst(s). Meanwhile, a consensus of 3 analyst(s) estimates revenue growth to $151.12 million by the end of May 2024.

While earnings are projected to return -186.67% in 2024.

BB Dividends

BlackBerry Ltd is due to release its next quarterly earnings between June 26 and July 01. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

BlackBerry Ltd (NYSE:BB)’s Major holders

BlackBerry Ltd insiders own 1.67% of total outstanding shares while institutional holders control 52.23%, with the float percentage being 53.12%. Fairfax Financial Holdings Ltd is the largest shareholder of the company, while 295 institutions own stock in it. As of Jun 29, 2023, the company held over 46.72 million shares (or 8.00% of all shares), a total value of $258.39 million in shares.

The next largest institutional holding, with 42.24 million shares, is of Fifthdelta Ltd’s that is approximately 7.24% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $233.61 million.

Also, the Mutual Funds coming in first place with the largest holdings of BlackBerry Ltd (BB) shares are First Trust NASDAQ Cybersecurity ETF and Vanguard/Primecap Fund. Data provided on Sep 29, 2023 indicates that First Trust NASDAQ Cybersecurity ETF owns about 16.75 million shares. This amounts to just over 2.87 percent of the company’s overall shares, with a $78.9 million market value. The same data shows that the other fund manager holds slightly less at 9.98 million, or about 1.71% of the stock, which is worth about $55.16 million.