Today, BlackBerry Ltd (NASDAQ:BBRY) stock received an upgrade by Macquarie from Neutral to Outperform. The firm's other software-related businesses also gained some traction. The current share price indicate that stock is -8.39% away from its one year high and is moving 24.40% ahead of its 52-week low.
After the closing of the quarter, BB Merah Putih launched the "BlackBerry Aurora", which is the first device launched under the company's licensing agreement with the Indonesian company. The company has its outstanding Shares of 529.96 Million. Imperial Capital dropped their price target on shares of BlackBerry from $8.50 to $8.25 and set an "in-line" rating on the stock in a research report on Thursday, December 22nd. The overall volume in the last trading session was 15.01 Million shares. Company's distance from 20 day simple moving average is 10.91% and distance from 50-Day simple moving average is 9.18%. At least Chen is aware of BlackBerry's handset opportunities in developing markets, hence a solid strategy for developing low-risk, high volume phones has been put in place and working out fairly well. The company's market cap is $5.74 billion. However, it is good to know that BlackBerry may be back in the game for coming up with the latest tablet which could be its answer to Samsung and other leading tablet manufacturers. (NYSE:T) reported its EPS in the last quarter as $0.66/Share lagging the analyst estimate of $0.66/Share by the difference of $0. The Return on Investment (ROI) is at -3.3% while it's Return on Equity (ROE) value stands at -55.6%. The stumble occurs "partly as a result of higher-than-expected contribution from the mobility solutions segment", explains the analyst, who underscores a $31 million hike between GAAP basis and the Street's forecast as well as $19 million higher than the analyst's estimate. During the same period previous year, the business posted ($0.03) earnings per share.
Following the Waterloo, Ontario-based company's fourth quarter results that demonstrated it is no longer dependent on service access fee-related cashflow, analyst Paul Treiber upgraded BlackBerry to sector perform.
Analysts mean Recommendation on a stock is noted at 3.20.
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Large investors have recently made changes to their positions in the company. UBS Asset Management Americas Inc. now owns 1,492,699 shares of the smartphone producer's stock worth $10,284,000 after buying an additional 109,818 shares during the last quarter. Bank of Montreal Can raised its stake in BlackBerry by 4.8% in the third quarter. Seven Eight Capital LP purchased a new stake in shares of BlackBerry during the fourth quarter worth about $743,000.
Hedge funds have recently added to or reduced their stakes in the company.
What's more, another press release hints at the possibility of medical devices bearing either the BlackBerry branding or co-branding along with "BlackBerry Secure", the firm's mobile security platform.