Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. BlackBerry Limited shares valued at $68,770 were sold by ERIKSSON MATTIAS on Jun 28. At $5.55 per share, ERIKSSON MATTIAS sold 12,391 shares. The insider’s holdings dropped to 26,672 shares worth approximately $0.15 million following the completion of this transaction.
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Also, Dickman Marjorie sold 68,519 shares, netting a total of over 390,558 in proceeds. Following the sale of shares at $5.70 each, the insider now holds 0 shares.
Before that, Dickman Marjorie had sold 16,194 shares from its account. In a trade valued at $111,739, the Chief Gv Aff & Pub Pol Officer traded BlackBerry Limited shares for $6.90 each. Upon closing the transaction, the insider’s holdings decreased to 16,194 shares, worth approximately $0.37 million.
As published in their initiating research note from Robert W. Baird on August 12, 2022, BlackBerry Limited [BB] has been a Neutral and the price target has been revised to $7. This represents a 22.14% premium over Wednesday’s closing price. Analysts at RBC Capital Mkts upgraded the stock from ‘”an Underperform”‘ to ‘”a Sector perform”‘ outlook in a report released in late March. As of August 18, 2021, Canaccord Genuity has increased its “Sell” rating to a “Hold” for BB. Earlier on June 25, 2021, TD Securities downgraded its rating. Their new recommendation was “a Reduce” for BB stock which previously was a “a Hold”.
Analyzing BB’s Price Performance
On Wednesday, BlackBerry Limited [NYSE: BB] plunged -2.33% to $5.45. The stock’s lowest price that day was $5.45, but it reached a high of $5.655 in the same session. During the last five days, there has been a drop of approximately -8.56%. Over the course of the year, BlackBerry Limited shares have dropped approximately -41.71%. Shares of the company reached a 52-week high of $9.49 on 01/04/22 and a 52-week low of $4.70 on 05/12/22. A 50-day SMA is recorded $6.15, while a 200-day SMA reached $6.78. Nevertheless, trading volume fell to 5.68 million shares from 2.84 million shares the previous day.
Support And Resistance Levels for BlackBerry Limited (BB)
According to the 24-hour chart, there is a support level at 5.38, which, if violated, would cause prices to drop to 5.31. In the upper region, resistance lies at 5.59. The next price resistance is at 5.72. RSI (Relative Strength Index) is 36.63 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.21, which suggests the price will decrease in the coming days. Percent R is at 100.00%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is BlackBerry Limited subject to short interest?
Stocks of BlackBerry Limited saw a sharp steep in short interest on Jul 14, 2022 dropping by -3.68 million shares to 32.56 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 36.24 million shares. A decline of -11.3% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.95 of the overall float, the days-to-cover ratio (short ratio) decline to 3.95.
Which companies own the most shares of BlackBerry Limited (BB)?
According to Hamblin Watsa Investment Counsel filings, the company currently owns 46,724,700 shares, which is about 8.10% of the total BB shares outstanding. With the completion of the sale transaction, PRIMECAP Management Co.’s stake is now worth $225,343,535. FifthDelta Ltd. acquire a 29.61% interest valued at $174.5 million while Allianz Global Investors U.S. LLC sold a -2,591,305 stake. A total of 196,516 shares of BlackBerry Limited were sold by The Vanguard Group, Inc. during the quarter, and 249,710 were bought by Heard Capital LLC. In its current portfolio, Norges Bank Investment Management holds 3,266,641 shares valued at $19.4 million.
In terms of BlackBerry Limited share price expectations, FactSet research, analysts set an average price target of $8.42 in the next 12 months, up nearly 12.01% from the previous closing price of $5.58. Analysts anticipate BlackBerry Limited stock to reach $20.00 by 2022, with the lowest price target being $5.00. In spite of this, 8 analysts ranked BlackBerry Limited stock as a Hold at the end of 2022.