The share price of BlackBerry Limited (NYSE:BB) rose to $4.64 per share on Tuesday from $4.53. While BlackBerry Limited has overperformed by 2.43%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, BB fell by -31.26%, with highs and lows ranging from $7.20 to $3.17, whereas the simple moving average fell by -4.03% in the last 200 days.
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On March 31, 2023, TD Securities Upgraded BlackBerry Limited (NYSE: BB) to Hold. A report published by Robert W. Baird on August 12, 2022, Initiated its previous ‘Neutral’ rating for BB. RBC Capital Mkts also Upgraded BB shares as ‘Sector Perform’, setting a target price of $7 on the company’s shares in a report dated March 21, 2022. TD Securities June 25, 2021d its ‘Hold’ rating to ‘Reduce’ for BB, as published in its report on June 25, 2021. Canaccord Genuity also rated the stock as ‘Sell’.
Analysis of BlackBerry Limited (BB)
Further, the quarter-over-quarter decrease in sales is -8.20%, showing a negative trend in the upcoming months.
To gain a thorough understanding of BlackBerry Limited’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of -1.20% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.00, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and BB is recording an average volume of 6.69M. On a monthly basis, the volatility of the stock is set at 4.91%, whereas on a weekly basis, it is put at 7.53%, with a gain of 21.15% over the past seven days. Furthermore, long-term investors anticipate a median target price of $4.77, showing growth from the present price of $4.64, which can serve as yet another indication of whether BB is worth investing in or should be passed over.
How Do You Analyze BlackBerry Limited Shares?
The number of employees owning shares of the company should also be considered in addition to the fundamentals. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 11.20%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 56.60% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in BB shares?
The recent increase in stakes in BB appears to be a result of several institutional investors and hedge funds increasing their positions. FifthDelta Ltd.’s position in BB has increased by 82.60% in the first quarter. The company now owns 57,923,581 shares of the stock, with a value of $224.74 million, following the purchase of 26,202,368 additional shares during the last quarter. During the last quarter, the company dropped down 0 additional shares for a total stake of worth $181.29 million, bringing number of shares owned by the company to 46,724,700.
During the first quarter, PRIMECAP Management Co. subtracted a -1,884,800 position in BB. Legal & General Investment Manage purchased an additional 2.06 million shares in the last quarter, increasing its holdings by 10.93%, now holding 20.92 million shares worth $81.18 million. At the end of the first quarter, The Vanguard Group, Inc. increased its BB holdings by 0.90% and now holds 13.28 million BB shares valued at $51.53 million with the added 0.12 million shares during the period. BB shares are owned by institutional investors to the tune of 56.60% at present.
