BlackBerry Ltd (NYSE:BB) price on current trading day, rose 1.36% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $4.47.
A look at the stock’s price movement, the close in the last trading session was $4.41, moving within a range at $4.392 and $4.5599. The beta value (5-Year monthly) was 0.908. Turning to its 52-week performance, $6.24 and $2.01 were the 52-week high and 52-week low respectively. Overall, BB moved -26.36% over the past month.
BlackBerry Ltd’s market cap currently stands at around $2.64 billion, with investors looking forward to this quarter’s earnings report slated for on 2024-Dec-18.
Analysts have a consensus estimate of 137.56M for the company’s revenue for the quarter, with a low and high estimate of 131.62M and 151M respectively. The average forecast suggests down to a -20.49% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 554.17M, representing a -35.03% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that BB is a 50% Buy. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
20 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 6 analyst(s) rate the stock as a Hold, 12 recommend BB as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 2 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
BB’s current price about -3.99% and -3.81% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 46.56, while 7-day volatility ratio is 3.98% and 7.00% in the 30-day chart. Further, BlackBerry Ltd (BB) has a beta value of 1.23, and an average true range (ATR) of 0.30. Analysts have given the company’s stock an average 52-week price target of $4.75, forecast between a low of $4.75 and high of $4.75. Looking at the price targets, the low is -6.26% off current price level while to achieve the yearly target high, price needs to move -6.26%. Nonetheless, investors will most likely welcome a -6.26% jump to $4.75 which is the analysts’ median price.
If we refocus on BlackBerry Ltd (NYSE:BB), historical trading data shows that trading volumes averaged 14.89 over the past 10 days and 25.19 million over the past 3 months. The company’s latest data on shares outstanding shows there are 591.58 million shares.
The 1.76% of BlackBerry Ltd’s shares are in the hands of company insiders while institutional holders own 46.88% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 37.66 million on 2025-02-28, giving us a short ratio of 1.07. The data shows that as of 2025-02-28 short interest in BlackBerry Ltd (BB) stood at 637.0000000000001 of shares outstanding, with shares short rising to 28.69 million registered in 2025-01-31. Current price change has pushed the stock 18.25% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the BB stock continues to rise going into the next quarter.
