BlackBerry Sees Unusually Large Options Volume (BB)

BlackBerry Ltd (NYSE:BB) was the target of unusually large options trading on Wednesday. Stock investors purchased 27,858 put options on the stock. This represents an increase of 1,403% compared to the typical volume of 1,854 put options.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Gabelli Funds LLC acquired a new stake in BlackBerry in the third quarter worth approximately $114,000. Robotti Robert acquired a new stake in BlackBerry in the third quarter worth approximately $114,000. US Bancorp DE acquired a new stake in BlackBerry in the third quarter worth approximately $119,000. King Luther Capital Management Corp acquired a new stake in BlackBerry in the third quarter worth approximately $127,000. Finally, Atlas Capital Advisors LLC acquired a new stake in BlackBerry in the third quarter worth approximately $128,000. Hedge funds and other institutional investors own 55.21% of the company’s stock.

Shares of NYSE BB opened at $8.78 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 6.43 and a quick ratio of 6.43. The company has a market cap of $4.68 billion, a PE ratio of 175.60 and a beta of 1.71. BlackBerry has a 12-month low of $8.23 and a 12-month high of $14.55.

BlackBerry (NYSE:BB) last issued its quarterly earnings data on Friday, September 28th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.03. The business had revenue of $214.00 million during the quarter, compared to the consensus estimate of $209.41 million. BlackBerry had a positive return on equity of 0.61% and a negative net margin of 34.24%. The business’s revenue was down 14.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.05 earnings per share. On average, analysts predict that BlackBerry will post -0.03 earnings per share for the current year.

Several brokerages have recently issued reports on BB. CIBC upgraded BlackBerry from a “neutral” rating to an “outperform” rating and set a $14.00 price objective for the company in a research report on Monday. They noted that the move was a valuation call. Canaccord Genuity reiterated a “hold” rating on shares of BlackBerry in a research report on Friday, November 16th. Zacks Investment Research upgraded BlackBerry from a “hold” rating to a “strong-buy” rating and set a $12.00 price objective for the company in a research report on Thursday, October 4th. Finally, Raymond James boosted their price objective on BlackBerry from $11.00 to $11.50 and gave the stock a “market perform” rating in a research report on Monday, October 1st. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $12.13.

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BlackBerry Company Profile

BlackBerry Limited operates as an enterprise software and services company focused on securing and managing endpoints in the Internet of Things. It offers BlackBerry Enterprise Mobility Suite, which combines and integrates mobile security, management, productivity, and collaboration solutions, such as BlackBerry UEM, BlackBerry Dynamics, and BlackBerry Workspaces; BlackBerry AtHoc, a secure and networked crisis communications solution; SecuSUITE for Government, a voice encryption software solution; BlackBerry Enterprise Consulting and BlackBerry Cybersecurity Consulting; and BBM Enterprise, an enterprise-grade secure instant messaging solution, as well as Communications Platform as a Service.

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