BlackBerry Sees Significant Increase in Short Interest (BBRY)

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Shares of BlackBerry (NASDAQ:BBRY) were the recipient of a significant increase in short interest in April. As of April 15th, there was short interest totalling 102,472,527 shares, an increase of 3.2% from the March 31st total of 99,334,950 shares, Stock Ratings News reports. Based on an average trading volume of 14,416,467 shares, the days-to-cover ratio is presently 7.1 days. Currently, 21.0% of the company’s stock are short sold.

Several analysts have recently commented on the stock. Analysts at Oppenheimer upgraded shares of BlackBerry from an “underperform” rating to a “market perform” rating in a research note on Monday. They now have a $7.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Zacks reiterated a “neutral” rating on shares of BlackBerry in a research note on Friday, April 25th. They now have a $7.75 price target on the stock. Finally, analysts at Nomura raised their price target on shares of BlackBerry from $7.00 to $9.00 in a research note on Monday, March 31st. They now have a “hold” rating on the stock. Eleven equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $8.40.

Shares of BlackBerry (NASDAQ:BBRY) opened at 7.67 on Wednesday. BlackBerry has a 52-week low of $5.44 and a 52-week high of $16.49. The stock has a 50-day moving average of $8.24 and a 200-day moving average of $8.1. The company’s market cap is $3.980 billion.

BlackBerry (NASDAQ:BBRY) last issued its quarterly earnings data on Friday, March 28th. The company reported ($0.08) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.57) by $0.49. The company had revenue of $976.00 million for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the company posted $0.22 earnings per share. BlackBerry’s revenue was down 63.6% compared to the same quarter last year. On average, analysts predict that BlackBerry will post $-0.97 earnings per share for the current fiscal year.

BlackBerry Limited, formerly Research In Motion Limited is a designer, manufacturer and marketer of wireless solutions for the worldwide mobile communications market.

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