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BlackBerry Limited (BB): An Intriguing Investment

BlackBerry Limited (NYSE:BB) concluded the trading at $5.45 on Wednesday, September 21 with a fall of -2.33% from its closing price on previous day.

Taking a look at stock we notice that its last check on previous day was $5.58 and 5Y monthly beta was reading 1.19 with its price kept floating in the range of $5.45 and $5.655 on the day. Considering stock’s 52-week price range provides that BB hit a high price of $12.39 and saw its price falling to a low level of $4.70 during that period. Over a period of past 1-month, stock came subtracting -10.66% in its value.

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With its current market valuation of $3.33 billion, BlackBerry Limited is set to declare its quarterly results on Mar 28, 2022 – Apr 01, 2022. Analysts are in estimates of -$0.07 per share for company’s earnings in the current quarter and are expecting its annual EPS growth moving up to -$0.21 for 2022 with estimates of that growing to -$0.03 in next year. These estimates are suggesting current year growth of -216.70% for EPS and 85.70% growth next year.

Analysts watching the company’s growth closely have provided estimates for its revenue growth with an average revenue estimate of $177.25 million. They suggested that in the process company could generate revenue of as low as $169 million which could climb up to $189 million to hit a high. In keeping analyst consensus estimate with, company is forecasted to be making an annual revenue of $730.14 million in 2022, which will be -20.60% less from revenue generated by the company last year.

In last 7 days, analysts came adjusting their opinions about stock’s EPS with no upward and no downward revisions, an indication which could give clearer idea about the company’s short term price movement. In contrast, when we review BB stock’s current outlook then short term indicators are assigning it an average of 100% Sell, while medium term indicators are categorizing the stock at an average of 50% Sell. Long term indicators are suggesting an average of 100% Sell for it.

According to ratings assigned by 8 analysts at the scale of 1 to 5 with 1.00 representing a strong buy and 5.00 suggesting a strong sell; 4 of them are recommending BlackBerry Limited (BB) as a Hold, while 1 are in view that stock is a Buy. Recommendation by 0 analysts for the stock is an Underweight while number of those analysts who rated the stock as an Overweight is 1, whereas 2 of them are considering the stock as a Sell. When taken as whole, stock gets a rating of Overweight and that encourages the investors to exploit the opportunity and build their stake up in the company.

Digging deeper we become aware of the PEG ratio of the BB stock which is currently positioned at 0. It further provides that stock’s current price level is -8.23% away from its 20-day simple moving average and is -11.40% off its SMA50. Its relative strength index (RSI) for 14-periods is oscillating at 36.63 while volatility remained at 3.62% over the past week which changes to 3.53% when measuring it over the past month. Beta is valued at 1.42, while measure of average true range or ATR is currently at 0.25.

In comparing BlackBerry Limited (BB)’s stock with other industry players reveals that stock’s current price change of -2.33% and that of -41.84% over the past 12 months is in competing position with that of Alphabet Inc. (GOOGL) which saw its stock price fall by -1.84% in the last trading and went through a decrease of -28.59% in past 12-month trading. Industry’s another major player Apple Inc. (AAPL) has fall -2.03% down in previous session, but over the past year has faced a rise of 7.17%, while Motorola Solutions Inc. (MSI) was also down -0.69% however its price remained floating in the green at 0.99% over the same period. BlackBerry Limited has a P/E ratio of 0 against that of Alphabet Inc.’s 18.81 while Apple Inc. is showing 25.40 for the same. On the other hand, the S&P 500 Index was down -1.71% in the last trading session while the Dow Jones Industrial closed the session lower at -1.70%.

Having a second look at BlackBerry Limited (NYSE:BB) provides that stock’s average daily trading volume for 3 months was 6.07 million, while it jumped to 5.52 million when we calculate an average volume for past 10 days. Number of outstanding shares of the stock stood at 576.88 million.

The percentage of outstanding shares held by the insiders is 11.20% while it is 56.60% for the institutional holders. The figures also indicate that as of Jul 14, 2022, number of stock’s short shares was 32.56 million which implies a short ratio of 3.95. This shows down a 5.64% of Short Interest in company’s outstanding shares on the day. In July the standing of shares short improved as it was 36.24 million in the previous month. Subtraction of -41.71% by stock’s current price to its year-to-date value in last trading session is likely to be increasing investors’ interest in the stock as it is hinting an extended uptrend.

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