BlackBerry Ltd (NYSE:BB) shares, rose in value on Wednesday, February 12, with the stock price up by 10.44% to the previous day’s close as strong demand from buyers drove the stock to $5.82.
Actively observing the price movement in the last trading, the stock closed the session at $5.27, falling within a range of $5.2 and $5.85. The value of beta (5-year monthly) was 1.068. Referring to stock’s 52-week performance, its high was $5.65, and the low was $2.01. On the whole, BB has fluctuated by 47.72% over the past month.
With the market capitalization of BlackBerry Ltd currently standing at about $3.44 billion, investors are eagerly awaiting this quarter’s results, scheduled for in March.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 565.14M, with a low estimate of 131.62M and a high estimate of 151M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 137.25M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that BB’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium-term indicators have put the stock in the category of 100% Buy while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the price of BB currently trading nearly 27.21% and 51.72% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 78.56, while the 7-day volatility ratio is showing 7.02% which for the 30-day chart, stands at 5.84%. Furthermore, BlackBerry Ltd (BB)’s beta value is 1.28, and its average true range (ATR) is 0.29.
A comparison of BlackBerry Ltd (BB) with its peers suggests the former has fared considerably weaker in the market. BB showed an intraday change of 10.44% in last session, and over the past year, it grew by 107.86%%.
Data on historical trading for BlackBerry Ltd (NYSE:BB) indicates that the trading volumes over the past 10 days have averaged 27.64 and over the past 3 months, they’ve averaged 17.98 million. According to company’s latest data on outstanding shares, there are 591.58 million shares outstanding.
Nearly 1.76% of BlackBerry Ltd’s shares belong to company insiders and institutional investors own 41.27% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 26.27 million shares as on 2024-11-29, resulting in a short ratio of 2.67. According to the data, the short interest in BlackBerry Ltd (BB) stood at 445.00 of shares outstanding as of 2024-11-29; the number of short shares registered in 2024-10-31 reached 26.98 million. The stock has risen by 53.97% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the BB stock heading into the next quarter.
