BlackBerry shares receive significant short interest increase in April

BlackBerry shares 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.

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.[signoff predefined=”Enjoy this?” icon=”icon-users”][/signoff]


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