Almost no one on Wall Street is now betting against BlackBerry

The number of investors who are betting against BlackBerry (TSX:BB, Nasdaq:BBRY) is falling.

As of the end of January, short interest on BlackBerry fell below 100-million shares for the first time since last November. The short position on the stock on January 30th was 97,681,923, down from 125,367,832 two weeks earlier.

The numbers may be a sign that most are buying in to BlackBerry’s recovery. Fourteen of eighteen analysts followed by Zacks Investment Research have a rating of “Hold” or better on the Canadian device maker. Just two analysts now have a “Sell” rating on the stock.

One analyst with a “Buy” rating on BlackBerry is Cormark’s Richard Tse.

Tse, who has a (U.S.) $17.00 one year target on the stock believes BlackBerry will have strong year as it transitions away from a consumer focus.

“BlackBerry’s turnaround has been an uphill battle for some time,” the analyst noted in a late December report to clients. “But despite the intense competition and lack of visibility, the short-term actions have been positive in streamlining the operations and focus. We believe a shift toward enterprise presents a meaningful opportunity. The big risk is execution; however, we believe the potential reward outweighs that risk right now.”

On Friday, December 19th, BlackBerry reported its 2015 third quarter results. The company lost (U.S.) $148-million on revenue of $793-million.