BlackBerry Ltd (NYSE:BB) shares, rose in value, with the stock price up by 2.49% to the previous day’s close as strong demand from buyers drove the stock to $2.88.
Actively observing the price movement in the last trading, the stock closed the session at $2.81. The value of beta (5-year monthly) was 1.09. Referring to stock’s 52-week performance, its high was $5.75, and the low was $2.46. On the whole, BB has fluctuated by 9.92% over the past month.
With the market capitalization of BlackBerry Ltd currently standing at about $1.69 billion, investors are eagerly awaiting this quarter’s results, scheduled for Mar 12, 2024 – Mar 16, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.02, which is expected to increase to $0.01 for fiscal year -$0.02 and then to about $0.1 by fiscal year 2026. Data indicates that the EPS growth is expected to be -140.00% in 2026, while the next year’s EPS growth is forecast to be 600.00%.
Analysts have estimated the company’s revenue for the quarter at $151.12 million, with a low estimate of $144.4 million and a high estimate of $156.95 million. Wall Street analysts also predicted that in 2026, the company’s y-o-y revenues would reach $653.83 million, representing a decrease of -23.30% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that BB’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of BB currently trading nearly 3.50% and 3.34% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 54.61, while the 7-day volatility ratio is showing 6.11% which for the 30-day chart, stands at 6.01%. Furthermore, BlackBerry Ltd (BB)’s beta value is 1.42, and its average true range (ATR) is 0.16.
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 2.49% in last session, and over the past year, it shrunk by -36.42%%.
Data on historical trading for BlackBerry Ltd (NYSE:BB) indicates that the trading volumes over the past 10 days have averaged 8.93 million and over the past 3 months, they’ve averaged 9.65 million. According to company’s latest data on outstanding shares, there are 589.23 million shares outstanding.
Nearly 1.75% of BlackBerry Ltd’s shares belong to company insiders and institutional investors own 50.37% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 43.29 million shares as on Mar 15, 2024, resulting in a short ratio of 4.43. According to the data, the short interest in BlackBerry Ltd (BB) stood at 7.39% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 46.76 million. The stock has fallen by -18.64% 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.
