BlackBerry Ltd (NYSE:BB) fell 4.1% during mid-day trading on Thursday . The stock traded as low as $9.25 and last traded at $9.63. 1,112,164 shares changed hands during trading, a decline of 78% from the average session volume of 5,069,957 shares. The stock had previously closed at $9.25.

Several research firms have issued reports on BB. Zacks Investment Research raised BlackBerry from a “hold” rating to a “strong-buy” rating and set a $12.00 target price for the company in a research note on Thursday, October 4th. Raymond James lifted their price objective on BlackBerry from $11.00 to $11.50 and gave the company a “market perform” rating in a research note on Monday, October 1st. MKM Partners dropped their price objective on BlackBerry from $13.50 to $12.00 and set a “neutral” rating for the company in a research note on Monday, June 25th. Canaccord Genuity dropped their price objective on BlackBerry from $11.00 to $10.50 and set a “hold” rating for the company in a research note on Monday, June 25th. Finally, BMO Capital Markets dropped their price objective on BlackBerry from $12.00 to $11.00 and set a “market perform” rating for the company in a research note on Monday, June 25th. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. BlackBerry has a consensus rating of “Buy” and an average target price of $12.21.

The company has a quick ratio of 6.53, a current ratio of 6.53 and a debt-to-equity ratio of 0.34. The company has a market cap of $6.12 billion, a price-to-earnings ratio of 191.60 and a beta of 1.53.

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

Large investors have recently added to or reduced their stakes in the stock. Windward Capital Management Co. CA purchased a new position in BlackBerry in the second quarter valued at $109,000. Campbell & CO Investment Adviser LLC purchased a new position in BlackBerry in the second quarter valued at $145,000. Personal Resources Investment & Strategic Management Inc. purchased a new position in BlackBerry in the first quarter valued at $150,000. Sciencast Management LP purchased a new position in BlackBerry in the first quarter valued at $183,000. Finally, JPMorgan Chase & Co. purchased a new position in BlackBerry in the first quarter valued at $211,000. Hedge funds and other institutional investors own 56.25% of the company’s stock.

BlackBerry Company Profile (NYSE:BB)

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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