BlackBerry Limited (NYSE:BB) price closed higher on Monday, September 13, jumping 0.48% above its previous close.
A look at the daily price movement shows that the last close reads $10.42, with intraday deals fluctuated between $10.26 and $10.75. The company’s 5Y monthly beta was ticking 1.01. Taking into account the 52-week price action we note that the stock hit a 52-week high of $28.77 and 52-week low of $4.37. The stock added 2.95% on its value in the past month.
BlackBerry Limited, which has a market valuation of $6.10 billion, is expected to release its quarterly earnings report Sep 22, 2021 – Sep 27, 2021. Analysts tracking BB have forecast the quarterly EPS to shrink by -0.07 per share this quarter, while the same analysts predict the annual EPS to hit -$0.14 for the year 2021 and up to $0.1 for 2023. In this case, analysts estimate an annual EPS growth of -177.80% for the year and 171.40% for the next year.
On average, analysts have forecast the company’s revenue for the quarter will hit $163.5 million, with the likely lows of $158 million and highs of $167 million. Staying with the analyst view, there is a consensus estimate of $781.5 million for the company’s annual revenue in 2022. Per this projection, the revenue is forecast to grow -15.00% below that which the company brought in 2022.
Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give BB a short term outlook of Hold on average. Looking at the stock’s medium term indicators we note that it is averaging as a 25% Sell, while an average of long term indicators are currently assigning the stock as Hold.
Here is a look at the average analyst rating for the stock as represented on a scale of 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock is strong buy or strong sell respectively. Specifically, 9 analysts have assigned BB a recommendation rating as follows: 2 rate it as a Hold; 1 advise Buy while 0 analyst(s) assign an Overweight rating. 1 analyst(s) have tagged the BlackBerry Limited (BB) stock as Underweight, with 5 recommending Sell. In general, analysts have rated the stock Underweight, a scenario likely to bolster investors out for an opportunity to add to their holdings of the company’s shares.
The overview shows that BB’s price is at present -1.03% off the SMA20 and -1.53% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 47.19, with weekly volatility standing at 5.14%. The indicator jumps to 5.49% when calculated based on the past 30 days. BlackBerry Limited (NYSE:BB)’s beta value is holding at 1.25, while the average true range (ATR) indicator is currently reading 0.54. Considering analysts have assigned the stock a price target range of $4.50-$20.00 as the low and high respectively, we find the trailing 12-month average consensus price target to be $9.86. Based on this estimate, we see that current price is roughly 57.02% off the estimated low and -91.02% off the forecast high. Investors will no doubt be excited to see the share price rise to $8.50, which is the median consensus price, and at that level BB would be 18.82% from current price.
Turning out attention to how the BlackBerry Limited stock has performed in comparison to its peers in the industry, here’s what we find: BB’s stock is 0.48% on the day and 120.42% in the past 12 months, while Alphabet Inc. (GOOGL) traded 1.03% in the last session and was positioned 87.80% up on its price 12 months ago. Another comparison is with Apple Inc. (AAPL) whose stock price was up 0.39% in the last trading session, and has flourished 33.53% over the past year. Also, Motorola Solutions Inc. (MSI) showed down trend of -0.38% while its price kept floating at 57.12% over the past year. Elsewhere in the market, the S&P 500 Index has rallied 0.23% in last trading session, with the Dow Jones Industrial also saw a positive session on the day with 0.76%.
An analysis of the BlackBerry Limited (NYSE:BB) stock in terms of its daily trading volume indicates that the 3-month average is 14.45 million. However, this figure increases on the past 10-day timeline to an average of 7.14 million.
Current records show that the company has 567.36M in outstanding shares. The insiders’ percentage holdings are 11.20% of outstanding shares while the percentage share held by institutions stands at 56.60%. The stats also highlight that short interest as of May 27, 2021, stood at 46.97 million shares, which puts the short ratio at the time at 3.3. From this we can glean that short interest is 8.29% of company’s current outstanding shares. Notably, we see that shares short in May fall slightly given the previous month’s figure stood at 48.48 million. But the 57.92% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.