Does BlackBerry Limited (BB) offer a good opportunity for investors?

BlackBerry Limited (NYSE: BB) stock jumped 0.19% on Friday to $5.39 against a previous-day closing price of $5.38. With 35.54 million shares changed hands, the volume of the stock remained heavier than its average volume of 5.96 million shares. During the session, the Software – Infrastructure company that operates in wider Technology sector, reached to the highest price of $5.47 whereas the lowest price it dropped to was $5.26. The 52-week range on BB shows that it touched its highest point at $6.10 and its lowest point at $3.17 during that stretch. It currently has a 1-year price target of $5.63. Beta for the stock currently stands at 1.52.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BB was up-trending over the past week, with a rise of 18.20%, but this was up by 22.22% over a month. Three-month performance surged to 4.46% while six-month performance rose 46.07%. The stock lost -9.56% in the past year, while it has gained 65.34% so far this year. A look at the trailing 12-month EPS for BB yields -0.97 with Next year EPS estimates of 0.04. For the next quarter, that number is -0.01. This implies an EPS growth rate of 105.60% for this year and 514.29% for next year.

Float and Shares Shorts:

At present, 582.81 million BB shares are outstanding with a float of 573.09 million shares on hand for trading. On Aug 14, 2023, short shares totaled 14.25 million, which was 2.44% higher than short shares on Jul 13, 2023. In addition to Mr. John S. Chen as the firm’s Exec. Chairman & CEO, Mr. Steve Rai serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 44.26% of BB’s outstanding shares, institutional investors have minority control over the company.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BB since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With BB analysts setting a high price target of $12.00 and a low target of $4.50, the average target price over the next 12 months is $6.39. Based on these targets, BB could surge 122.63% to reach the target high and fall by -16.51% to reach the target low. Reaching the average price target will result in a growth of 18.55% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded BB stock several times over the past three months with 2 Buys and 2 Sells. In these transactions, 78,124 shares were bought while 22,252 shares were sold. The number of buy transactions has increased to 52 while that of sell transactions has risen to 45 over the past year. The total number of shares bought during that period was 19,548,328 while 18,147,692 shares were sold.

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