BlackBerry Ltd (NYSE:BB) shares traded -2.97% lower at $2.94 on Wall Street last session.
BB stock price is now 2.24% away from the 50-day moving average and -18.47% away from the 200-day moving average. The market capitalization of the company currently stands at $1.74B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
With the price target reduced from $4.50 to $4, RBC Capital Mkts maintained Sector Perform rating for BlackBerry Ltd (NYSE: BB). On May 18, 2023, CIBC Upgraded its previous ‘Sector Underperform’ rating to ‘Neutral’ on the stock increasing its target price from $4.20 to quote $6.50, while ‘TD Securities’ rates the stock as ‘Hold’
In other news, BRACE PHILIP G, Director bought 35,000 shares of the company’s stock on Feb 14 ’24. The stock was bought for $97,650 at an average price of $2.79. Upon completion of the transaction, the Director now directly owns 35,000 shares in the company, valued at $0.1 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jan 08 ’24, Chief Financial Officer Rai Steve sold 20,047 shares of the business’s stock. A total of $65,153 was realized by selling the stock at an average price of $3.25. This leaves the insider owning 84,599 shares of the company worth $0.25 million. A total of 1.74% of the company’s stock is owned by insiders.
During the past 12 months, BlackBerry Ltd has had a low of $2.46 and a high of $5.75. As of last week, the company has a debt-to-equity ratio of 0.32, a current ratio of 1.43, and a quick ratio of 1.43.
The net profit margin was -15.24% and return on equity was -15.92% for BB. The company reported revenue of $173.0 million for the quarter, compared to $151.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 14.57 percent.
