BlackBerry Ltd (NYSE:BB) was the recipient of a significant decline in short interest in the month of March. As of March 29th, there was short interest totalling 19,562,582 shares, a decline of 14.9% from the March 15th total of 22,988,485 shares. Based on an average trading volume of 6,916,674 shares, the short-interest ratio is currently 2.8 days.

A number of research analysts have issued reports on the company. Morgan Stanley reissued an “equal weight” rating and issued a $10.00 target price on shares of BlackBerry in a research note on Friday, March 22nd. Raymond James set a $11.00 target price on BlackBerry and gave the company a “market perform” rating in a research note on Monday, April 1st. CIBC reissued a “buy” rating and issued a $13.00 target price on shares of BlackBerry in a research note on Friday, March 29th. Canaccord Genuity decreased their target price on BlackBerry from $11.00 to $9.00 and set a “hold” rating for the company in a research note on Friday, December 21st. Finally, Zacks Investment Research cut BlackBerry from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. BlackBerry has a consensus rating of “Hold” and a consensus target price of $10.60.

BB stock opened at $9.20 on Tuesday. The company has a quick ratio of 6.77, a current ratio of 2.54 and a debt-to-equity ratio of 0.25. The stock has a market cap of $5.08 billion, a PE ratio of 70.77 and a beta of 2.08. BlackBerry has a fifty-two week low of $6.57 and a fifty-two week high of $12.55.

BlackBerry (NYSE:BB) last posted its quarterly earnings data on Friday, March 29th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.05. The company had revenue of $257.00 million during the quarter, compared to analysts’ expectations of $242.81 million. BlackBerry had a return on equity of 2.33% and a net margin of 10.29%. BlackBerry’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.05 earnings per share. As a group, equities research analysts anticipate that BlackBerry will post -0.01 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc acquired a new position in shares of BlackBerry during the third quarter worth about $142,508,000. Cerebellum GP LLC acquired a new position in shares of BlackBerry during the fourth quarter worth about $264,000. Mackenzie Financial Corp acquired a new position in shares of BlackBerry during the third quarter worth about $72,272,000. Morgan Stanley acquired a new position in shares of BlackBerry during the third quarter worth about $23,038,000. Finally, Mastrapasqua Asset Management Inc. acquired a new position in shares of BlackBerry during the third quarter worth about $1,917,000. 52.71% of the stock is owned by institutional investors.

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BlackBerry Company Profile

BlackBerry Limited operates as an enterprise software and services company focused on securing and managing endpoints in the Internet of Things. It offers BlackBerry Enterprise Mobility Suite, which combines and integrates mobile security, management, productivity, and collaboration solutions, such as BlackBerry UEM, BlackBerry Dynamics, and BlackBerry Workspaces; BlackBerry AtHoc, a secure and networked crisis communications solution; SecuSUITE for Government, a voice encryption software solution; BlackBerry Enterprise Consulting and BlackBerry Cybersecurity Consulting; and BBM Enterprise, an enterprise-grade secure instant messaging solution, as well as Communications Platform as a Service.

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