Short Interest in BlackBerry Ltd (BBRY) Expands By 5.8%
BlackBerry Ltd (NASDAQ:BBRY) saw a large increase in short interest in the month of September. As of September 29th, there was short interest totalling 44,161,694 shares, an increase of 5.8% from the September 15th total of 41,732,966 shares. Based on an average daily volume of 15,357,534 shares, the short-interest ratio is presently 2.9 days. Currently, 8.5% of the shares of the stock are sold short.
BlackBerry (BBRY) traded up 0.70% during midday trading on Tuesday, hitting $11.57. The stock had a trading volume of 8,264,096 shares. The company’s 50 day moving average is $9.90 and its 200 day moving average is $9.71. BlackBerry has a 1-year low of $6.65 and a 1-year high of $11.78. The company has a market cap of $6.13 billion and a price-to-earnings ratio of 11.96.
BlackBerry announced that its board has authorized a share repurchase plan on Friday, June 23rd that allows the company to repurchase 31,000,000 shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cetera Investment Advisers acquired a new stake in shares of BlackBerry in the second quarter valued at approximately $279,000. Dynamic Technology Lab Private Ltd raised its position in shares of BlackBerry by 56.4% in the second quarter. Dynamic Technology Lab Private Ltd now owns 232,703 shares of the company’s stock valued at $2,324,000 after buying an additional 83,957 shares in the last quarter. Koch Industries Inc. acquired a new stake in shares of BlackBerry in the second quarter valued at approximately $360,000. Scotia Capital Inc. raised its position in shares of BlackBerry by 6.0% in the second quarter. Scotia Capital Inc. now owns 198,145 shares of the company’s stock valued at $1,978,000 after buying an additional 11,227 shares in the last quarter. Finally, Bank of Nova Scotia raised its position in shares of BlackBerry by 3.1% in the second quarter. Bank of Nova Scotia now owns 1,320,717 shares of the company’s stock valued at $13,201,000 after buying an additional 39,770 shares in the last quarter.
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.
Receive News & Ratings for BlackBerry Ltd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackBerry Ltd and related companies with MarketBeat.com's FREE daily email newsletter.