BlackBerry’s (BBRY) Short Interest Up 12.44% In November

Recent short interest data for the 11/28/2014 settlement date shows an increase in short interest for shares of BlackBerry Limited (BBRY). As of November 28, the short interest for the smartphone maker totaled 111,375,334 shares, as compared to 99,051,192 shares since November 14, a jump of 12.44%. Average daily volume [AVM] for the same period fell by 4,606,924 to 12,206,992 shares from 16,813,916 shares. It is worth mentioning that ticker’s short interest has jumped by more than 22M shares, or about 26%, from the 7/31/2014 settlement date.

Based on the latest AVM, the days-to-cover ratio — a metric that includes both the total shares short and the average daily volume of shares traded — is currently 9.12 days. Days-to-cover for BBRY increased to 9.12 for the November 28 settlement date, as compared to 5.89 days at the November 14 report.

Recently, a number of Wall Street firms have assigned a rating to the stock. Analysts at JP Morgan (JPM) maintained their ‘Neutral’ rating and a $10 price target in a research note on December 22-nd. Nomura analysts maintained their ‘Neutral’ rating and $10.30 price target in a research note to clients also issued on Dec. 22-nd. Finally, analysts at BGC Partners upgraded BlackBerry’s shares from ‘Hold’ to ‘Buy’ with a $12.50, 12-month base case estimate in a research note on Dec. 17th. Overall, there are 23 analysts that rate BBRY a ‘Hold’, 12 rate it ‘Underperform’, and 1 rates it a ‘Buy’. BBRY has a median Wall Street price target of $9.75.

BlackBerry Limited has a beta of 0.14 and a short float of 23.20%. In the past 52 weeks, shares of Waterloo, Canada-based company have traded between a low of $6.98 and a high of $12.54 and are now at $10.44. Shares are up 59.84% year-over-year and 34.27% year-to-date.

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