Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. BlackBerry Ltd shares valued at $97,650 were purchased by BRACE PHILIP G on Feb 14 ’24. At $2.79 per share, BRACE PHILIP G acquired 35,000 shares. The insider’s holdings grew to 35,000 shares worth approximately $0.11 million following the completion of this transaction.
Also, Rai Steve sold 20,047 shares, netting a total of over 65,153 in proceeds. Following the sale of shares at $3.25 each, the insider now holds 84,599 shares.
Before that, GIAMATTEO JOHN JOSEPH had sold 18,279 shares from its account. In a trade valued at $59,041, the CEO & President, Cybersecurity traded BlackBerry Ltd shares for $3.23 each. Upon closing the transaction, the insider’s holdings decreased to 18,279 shares, worth approximately $0.66 million.
As published in a research note from RBC Capital Mkts on December 21, 2023, BlackBerry Ltd [BB] has been retained to a Sector perform and the price target has been revised to $4. Analysts at CIBC upgraded the stock from ‘”a Sector underperform”‘ to ‘”a Neutral”‘ outlook in a report released in mid May. As of March 31, 2023, TD Securities has increased its “Reduce” rating to a “Hold” for BB. Earlier on August 12, 2022, Robert W. Baird initiated its rating. Their recommendation was “a Neutral” for BB stock.
Analyzing BB Stock Performance
During the last five days, there has been a surge of approximately 10.76%. Over the course of the year, BlackBerry Ltd shares have dropped approximately -9.89%. Shares of the company reached a 52-week high of $3.63 on 01/23/24 and a 52-week low of $2.46 on 03/19/24. A 50-day SMA is recorded $2.78, while a 200-day SMA reached $3.86. Nevertheless, trading volume fell to 9.2 million shares from 23.09 million shares the previous day.
Support And Resistance Levels for BlackBerry Ltd (BB)
According to the 24-hour chart, there is a support level at 3.09, which, if violated, would cause prices to drop to 2.99. In the upper region, resistance lies at 3.26. The next price resistance is at 3.34. RSI (Relative Strength Index) is 65.43 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.29, which suggests the price will decrease in the coming days. Percent R is at 7.72%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is BlackBerry Ltd subject to short interest?
Stocks of BlackBerry Ltd saw a sharp rise in short interest on Mar 28, 2024 jumping by 1.49 million shares to 47.87 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 46.38 million shares. A jump of 3.11% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.33 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.33.
