Unusual Volume Spikes For: BlackBerry Limited (BBRY)

Posted April 05, 2017

BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB)'s stock had its "hold" rating reaffirmed by stock analysts at Canaccord Genuity in a note issued to investors on Friday. The revenue beat gives some much-needed respite to BBRY shareholders. The phone is facing some delays however, and now it looks like BlackBerry is considering licensing its brand to even more device types. The Stock now has the market capitalization of $4.16 Billion, P/E (price to earnings ttm) of 0 and Weekly volatility of 3.25% and monthly volatility of 2.47% respectively. However, SAF revenue is in drastic decline because of the near extinction of BlackBerry's operating systems ecosystem.

Once considered as one of the most prominent smartphone vendors in the world, Blackberry has had to endure with tough periods over the past two years as it lost major market ground to both Android and iOS devices, forcing the company headquarter to let off 35% of its workforce last year.

BlackBerry (NASDAQ:BBRY) traded down 2.19% during mid-day trading on Friday, hitting $7.58. Analysts were expecting $288.45 million.

Since then, BlackBerry has undergone a transformation to survive, morphing from a hardware company to a software company.

Additionally, the analyst attributes a "higher-margin segment" for BBRY reaching a 65.3% non-GAAP gross margin, which meaningfully topped this time last year's margin of 48.7%.

Treiber also highlighted the potentially large opportunity BlackBerry could have in the automotive market, as the company shift from infotainment to telematics and connected vehicles.

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BlackBerry's software and services business grew by about 39% year-over-year to about $182 million, as the firm's enterprise mobility software customer base continued to grow.

"Core software revenue growth appears slower than generally expected".

The stock showed weekly upbeat performance of 10.01%, which was maintained for the month at 13.37%. This reflects free cash flow of $16 million, which includes cash flow from operations of $19 million.

BlackBerry's high margin service access fee business, which accounts for over a third of the firm's operating profits, is also declining fast, as users migrate from its legacy smartphone platform.

Total cash, cash equivalents, short-term and long-term investments increased by $89 million to approximately $1.7 billion as of February 28, 2017. "For example, companies providing medical monitoring devices must protect health data on the device, guarantee it connects securely to the healthcare system, and most importantly ensure that it can not be hacked, BlackBerry Secure helps solve this triple threat", John Chen, Executive Chairman and CEO, BlackBerry, said in a release issued by the company. "In addition, our balance sheet continues to strengthen and benefit from reduced capital requirements with our focus on software and licensing".

A Possibility of a Short Squeeze?

For the quarter, shares have been noted at 13.21%. There may be various price targets for a stock.