BlackBerry Ltd (BBRY) Short Interest Up 5.8% in September
BlackBerry Ltd (NASDAQ:BBRY) was the target of a significant growth in short interest in September. As of September 29th, there was short interest totalling 44,161,694 shares, a growth of 5.8% from the September 15th total of 41,732,966 shares. Currently, 8.5% of the company’s shares are sold short. Based on an average daily trading volume, of 15,357,534 shares, the days-to-cover ratio is currently 2.9 days.
A number of large investors have recently added to or reduced their stakes in the business. Comerica Bank boosted its position in BlackBerry by 1.3% in the first quarter. Comerica Bank now owns 30,043 shares of the company’s stock valued at $280,000 after buying an additional 394 shares in the last quarter. Korea Investment CORP boosted its position in BlackBerry by 3.0% in the second quarter. Korea Investment CORP now owns 31,665 shares of the company’s stock valued at $316,000 after buying an additional 937 shares in the last quarter. Fiera Capital Corp boosted its position in BlackBerry by 1.3% in the second quarter. Fiera Capital Corp now owns 126,127 shares of the company’s stock valued at $1,258,000 after buying an additional 1,600 shares in the last quarter. Creative Planning boosted its position in BlackBerry by 18.6% in the second quarter. Creative Planning now owns 12,122 shares of the company’s stock valued at $121,000 after buying an additional 1,900 shares in the last quarter. Finally, Mastrapasqua Asset Management Inc. boosted its position in BlackBerry by 5.2% in the second quarter. Mastrapasqua Asset Management Inc. now owns 40,600 shares of the company’s stock valued at $406,000 after buying an additional 2,000 shares in the last quarter.
Shares of BlackBerry (BBRY) traded up 0.70% during midday trading on Friday, hitting $11.57. The stock had a trading volume of 8,264,096 shares. BlackBerry has a 12-month low of $6.65 and a 12-month high of $11.78. The stock has a market cap of $6.13 billion and a P/E ratio of 11.96. The stock has a 50-day moving average price of $10.14 and a 200-day moving average price of $9.78.
BlackBerry declared that its board has approved a share buyback plan on Friday, June 23rd that permits the company to repurchase 31,000,000 outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
BlackBerry Limited (BlackBerry) provides mobile communications solutions. The Company is engaged in the sale of smartphones and enterprise software and services. The Company’s products and services include Enterprise Solutions and Services, Devices, BlackBerry Technology Solutions and Messaging. It is engaged in providing enterprise mobility management (EMM) and mobile security, and offers a portfolio of enterprise software solutions and services that can be deployed across a range of ecosystems and devices, including BlackBerry Enterprise Service (BES) 12 and Good Platforms, BES12 Cloud, enterprise file-sync-and-share (EFSS), SecuSUITE for Enterprise, Enhanced subscriber identity module (SIM)-Based Licensing (ESBL), WorkLife by BlackBerry solution and Professional Cybersecurity Services.
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