BlackBerry Target of Unusually High Options Trading (BBRY)
BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) saw unusually large options trading on Wednesday. Stock traders purchased 688 put options on the stock. This represents an increase of approximately 216% compared to the typical daily volume of 218 put options.
Several large investors have recently modified their holdings of the stock. Beck Mack & Oliver LLC bought a new stake in shares of BlackBerry during the first quarter worth about $105,000. Guardian Capital LP bought a new stake in shares of BlackBerry during the fourth quarter worth about $100,000. Capital Investment Counsel Inc bought a new stake in shares of BlackBerry during the first quarter worth about $126,000. Nine Chapters Capital Management LLC bought a new stake in shares of BlackBerry during the first quarter worth about $137,000. Finally, FNY Partners Fund LP bought a new stake in shares of BlackBerry during the first quarter worth about $147,000. 62.41% of the stock is owned by institutional investors.
Several research firms have issued reports on BBRY. Vetr cut BlackBerry from a “strong-buy” rating to a “buy” rating and set a $12.19 target price on the stock. in a research report on Monday, May 22nd. Raymond James Financial, Inc. cut BlackBerry from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $9.50 to $11.00 in a research report on Monday, May 29th. Canaccord Genuity set a $10.00 price target on BlackBerry and gave the stock a “hold” rating in a research note on Wednesday, April 12th. William Blair reissued a “market perform” rating on shares of BlackBerry in a research note on Wednesday, April 19th. Finally, BMO Capital Markets boosted their price target on BlackBerry from $8.00 to $9.00 and gave the stock a “market perform” rating in a research note on Monday, April 17th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. BlackBerry presently has a consensus rating of “Hold” and an average price target of $8.88.
Shares of BlackBerry (NASDAQ:BBRY) opened at 11.29 on Friday. The firm’s market capitalization is $5.99 billion. The stock’s 50 day moving average price is $9.85 and its 200-day moving average price is $7.94. BlackBerry has a 12-month low of $6.23 and a 12-month high of $11.74.
BlackBerry (NASDAQ:BBRY) last issued its earnings results on Friday, March 31st. The smartphone producer reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.08. The company had revenue of $297 million during the quarter, compared to analyst estimates of $288.45 million. BlackBerry had a negative net margin of 93.19% and a negative return on equity of 3.62%. The company’s revenue for the quarter was down 39.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.03) EPS. On average, equities analysts expect that BlackBerry will post $0.02 EPS for the current year.
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BlackBerry Company Profile
BlackBerry Limited (BlackBerry) provides mobile communications solutions. The Company is engaged in the sale of smartphones and enterprise software and services. The Company’s products and services include Enterprise Solutions and Services, Devices, BlackBerry Technology Solutions and Messaging. It is engaged in providing enterprise mobility management (EMM) and mobile security, and offers a portfolio of enterprise software solutions and services that can be deployed across a range of ecosystems and devices, including BlackBerry Enterprise Service (BES) 12 and Good Platforms, BES12 Cloud, enterprise file-sync-and-share (EFSS), SecuSUITE for Enterprise, Enhanced subscriber identity module (SIM)-Based Licensing (ESBL), WorkLife by BlackBerry solution and Professional Cybersecurity Services.
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