BlackBerry Ltd (NYSE:BB) stock is 1% higher before the bell, after the software company reported adjusted second-quarter earnings of seven cents per share on $163.3 million in revenue, both of which topped forecasts. BlackBerry also hiked its 2027 guidance on strength in the automotive software business.
BB boasts a 121% year-to-date gain heading into today. The shares peaked earlier this summer with a July 1 five-year high of $13.59, with the subsequent late-summer pullback finding support at their 126-day moving average.
A shift in analyst attention could keep the wind at the equity's back. Of the seven brokerages covering BB, five maintain tepid "hold" ratings. There's also modest short squeeze potential, with 6.2% of the stock's total available float sold short.
Furthermore, the stock sports a 10-day put/call volume ratio that sits in the 94th percentile on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). So while calls still outflank puts on an absolute basis, the high percentile hints at a much healthier-than-usual appetite for bearish bets of late.
