BlackBerry Ltd (NYSE:BB) shot up 5.7% on Wednesday . The company traded as high as $8.90 and last traded at $8.73. 18,891,770 shares traded hands during trading, an increase of 389% from the average session volume of 3,865,960 shares. The stock had previously closed at $8.26.

A number of research firms recently weighed in on BB. Zacks Investment Research cut BlackBerry from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 3rd. TD Securities raised their price target on BlackBerry from $14.00 to $14.50 and gave the company a “buy” rating in a report on Monday, April 1st. Raymond James set a $11.00 target price on BlackBerry and gave the company a “market perform” rating in a research note on Monday, April 1st. CIBC reissued a “buy” rating and issued a $13.00 target price on shares of BlackBerry in a research note on Friday, March 29th. Finally, Morgan Stanley assumed coverage on BlackBerry in a research note on Friday, March 22nd. They issued a “weight” rating for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $10.61.

The company has a market cap of $4.64 billion, a P/E ratio of 67.15 and a beta of 2.01. The company has a quick ratio of 2.54, a current ratio of 2.54 and a debt-to-equity ratio of 0.25.

BlackBerry (NYSE:BB) last released its earnings results on Friday, March 29th. The company reported $0.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.05. The company had revenue of $257.00 million during the quarter, compared to analysts’ expectations of $242.81 million. BlackBerry had a return on equity of 2.33% and a net margin of 10.29%. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period last year, the firm earned $0.05 EPS. On average, equities research analysts anticipate that BlackBerry Ltd will post -0.01 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Investors Research Corp bought a new position in shares of BlackBerry in the 1st quarter worth $33,000. Capital Investment Advisory Services LLC bought a new position in shares of BlackBerry in the 4th quarter worth $43,000. Truvestments Capital LLC bought a new position in shares of BlackBerry in the 1st quarter worth $52,000. Ropes Wealth Advisors LLC boosted its position in shares of BlackBerry by 1,950.0% in the 1st quarter. Ropes Wealth Advisors LLC now owns 5,125 shares of the company’s stock worth $52,000 after purchasing an additional 4,875 shares during the last quarter. Finally, Claraphi Advisory Network LLC bought a new position in shares of BlackBerry in the 4th quarter worth $75,000. 52.18% of the stock is owned by institutional investors.

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About BlackBerry (NYSE:BB)

BlackBerry Limited provides enterprise software and services worldwide. The company 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 networked crisis communications solution; SecuSUITE for Government, a voice encryption software solution; BlackBerry Enterprise Consulting and BlackBerry Cybersecurity Consulting services; and BBM Enterprise, an enterprise-grade instant messaging solution, as well as BlackBerry Spark Communication services.

Further Reading: Price to Earnings Ratio (PE)

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