BlackBerry Limited [NYSE:BB] price is worthing noting Thursday. The current price is $5.21 with a high of $5.17 and $4.975. Analysts see the current price target is $6.90.
To ground this price against the rest of the market, over the last two 52 weeks, the company is trading -26.14%, while the S&P 500 is trading 0.34%. Traders should note that the company’s next earning date is 09/25/2020. The company has price per sales of 2.85 and price per cash flow of 59.30.
Wait and see
Holding a Market Cap of $2.85 billion, BlackBerry Limited has seen a trading range over the last year of $2.70-$7.76.
For the last five days, BB is up from its last closing price. The average shares trading hands each day is 4.30M, with average 10-day volume coming in at 3.19 million.
Using a Force Index Indicator is a good way to look at how strong actual buying and selling pressure is for BB. When we apply the Elder Force Index to BlackBerry Limited, we are seeing an Elder Force Indicator number of 408930.12.
The recent performance of the stock is another area that can tell traders how to proceed. BB is presenting an interesting case. This can be seen in the Forward P/E ratio, which currently stands at 37.54. Moreover, the company’s enterprise value has gone from $2.43B to $2.75B quarter-over-quarter. This could be an inflection point for the company, but either way we believe you should be adding them to your watchlist.
In the last quarter, BB made a profit of 143.0 million. BlackBerry Limited also saw quarter revenue growth year over year of 16.56%. In addition, the company has operating cash flow of $59.0 million.
Looking at popular technical indicators, the company’s 5-day moving average is 4.97 compared to the 50-day moving average of 4.79. So, we are clearly seeing an upward trajectory here.
The Relative Strength Index or RSI is an indicator ranging between 0 and 100 that traders use to determine if a stock is “overbought” or “oversold.” A strong uptrend tending to reach into the “overbought” status is above 70, while a downward trend will stay around the 30 mark. BB currently holds a 9-day RSI of 72.01%, while 100-day RSI stands at 49.85%.
Another indicator we believe is worth keeping tabs on is the Moving Average Convergence Divergence or MACD. Similar to the concept of the Force Index — on the basis of price momentum — the MACD gives traders a tool to measure the turning point of a stock even during rapid fluctuations in price. Buy and sell signals are determined by a stock’s relation to the zero line, so if a stock is above a zero line for many weeks it might be a “buy.” On the other hand, if a stock is below the zero line consistently, it might be one to stay away from. Also, if the MACD line reaches a peak and dips, its momentum may be waning. BB’s 9-day MACD is 0.21 and the company’s 100-day MACD stands at 0.40.
Another area that is important to analyze is insider moves and majority shareholders. While this is not always an error-free way to tell what the future holds for a stock, you can maybe gather important information from reading the tea leaves about who is buying and selling.
The major holders for this stock are 2.00% by insiders and 55.71% by institutions. Regarding institutional holdings, Primecap Management Company owns 11.41%, while the second top holder, Fairfax Financial Holdings Ltd/ Can, currently owns 8.40%.
Over the last six months, insiders have sold 2,799 with the most recent transaction from Castignola David, Head of Spark Field Ops & Mktg, with a sell at price 4.77 per share.
Overall, the recommended rating for BB is Hold. Currently, the company has 9 analysts watching the stock, and the average quarterly earnings estimate is 0.02. Quarterly revenue estimates are averaging 237.95M with the high estimate reaching 246M and the low at 227.72M.
To review, the current 1-year target estimate is sitting at 5.72, while the current price 5.21. Based on this, we expect the stock to rise considering the aforementioned fundamentals.