Trading Report: The BlackBerry Ltd. (BBRY) Raised to “Strong-Buy” at Vetr Inc.

The BlackBerry Ltd. (BBRY) Raised to “Strong-Buy” at Vetr Inc.

Vetr upgraded shares of BlackBerry Ltd. (NASDAQ:BBRY) from a buy rating to a strong-buy rating in a research note issued to investors on Tuesday. Vetr currently has $8.59 price target on the smartphone producer’s stock.

Other analysts have also issued research reports about the company. Credit Suisse Group AG reiterated a sell rating on shares of BlackBerry in a report on Friday, June 17th. Imperial Capital lowered their price target on BlackBerry from $7.50 to $7.00 and set an in-line rating for the company in a report on Thursday, June 16th. Zacks Investment Research upgraded BlackBerry from a hold rating to a buy rating and set a $9.00 price target for the company in a report on Tuesday, August 23rd. TD Securities reiterated a buy rating and issued a $9.00 price target on shares of BlackBerry in a report on Friday, September 23rd. Finally, MKM Partners reiterated a hold rating on shares of BlackBerry in a report on Sunday, June 26th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $7.93.

BlackBerry (NASDAQ:BBRY) opened at 7.47 on Tuesday. The stock has a 50 day moving average price of $7.71 and a 200-day moving average price of $7.30. The stock’s market cap is $3.91 billion. BlackBerry has a 1-year low of $6.23 and a 1-year high of $9.46.

BlackBerry (NASDAQ:BBRY) last released its earnings results on Wednesday, September 28th. The smartphone producer reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. The firm had revenue of $352 million for the quarter. BlackBerry had a negative return on equity of 3.36% and a negative net margin of 78.41%. The company’s quarterly revenue was down 28.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.13) EPS. On average, equities analysts expect that BlackBerry will post ($0.01) EPS for the current year.

Several large investors have recently bought and sold shares of the stock. Water Island Capital LLC boosted its stake in BlackBerry by 106.3% in the second quarter. Water Island Capital LLC now owns 16,500 shares of the smartphone producer’s stock worth $111,000 after buying an additional 8,500 shares during the period. IFP Advisors Inc boosted its stake in BlackBerry by 83.9% in the second quarter. IFP Advisors Inc now owns 20,490 shares of the smartphone producer’s stock worth $137,000 after buying an additional 9,350 shares during the period. World Asset Management Inc boosted its stake in BlackBerry by 7.8% in the second quarter. World Asset Management Inc now owns 32,372 shares of the smartphone producer’s stock worth $217,000 after buying an additional 2,330 shares during the period. Ameriprise Financial Inc. boosted its stake in BlackBerry by 3.6% in the second quarter. Ameriprise Financial Inc. now owns 33,078 shares of the smartphone producer’s stock worth $222,000 after buying an additional 1,147 shares during the period. Finally, Exane Derivatives boosted its stake in BlackBerry by 29.2% in the second quarter. Exane Derivatives now owns 35,250 shares of the smartphone producer’s stock worth $236,000 after buying an additional 7,957 shares during the period. Hedge funds and other institutional investors own 57.93% of the company’s stock.

About BlackBerry

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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