Beyond (NYSE:BYON) Stock Price Down 5.7%

Beyond, Inc. (NYSE:BYON)’s share price was down 5.7% during trading on Wednesday . The stock traded as low as $11.30 and last traded at $11.31. Approximately 344,029 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 1,830,808 shares. The stock had previously closed at $11.99.

Analysts Set New Price Targets

BYON has been the subject of a number of research reports. Wedbush decreased their target price on Beyond from $37.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Needham & Company LLC restated a “hold” rating on shares of Beyond in a report on Monday, May 20th. Barclays decreased their price objective on shares of Beyond from $22.00 to $16.00 and set an “equal weight” rating on the stock in a report on Friday, July 26th. Bank of America decreased their target price on Beyond from $15.50 to $15.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Finally, Piper Sandler dropped their target price on shares of Beyond from $17.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $27.29.

Beyond Stock Performance

The firm has a 50 day moving average of $11.49 and a 200-day moving average of $19.14. The stock has a market capitalization of $503.25 million, a PE ratio of -1.37 and a beta of 3.65. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.08 and a current ratio of 1.14.

Beyond (NYSE:BYON) last posted its quarterly earnings results on Monday, July 29th. The company reported ($0.76) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.89) by $0.13. The company had revenue of $398.10 million for the quarter, compared to analyst estimates of $381.74 million. Beyond had a negative net margin of 22.03% and a negative return on equity of 49.00%. The business’s quarterly revenue was down 5.7% on a year-over-year basis. During the same period last year, the business posted ($0.02) EPS. Research analysts forecast that Beyond, Inc. will post -3.54 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Barclay F. Corbus bought 5,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were purchased at an average price of $10.66 per share, for a total transaction of $53,300.00. Following the purchase, the director now owns 66,668 shares of the company’s stock, valued at approximately $710,680.88. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Barclay F. Corbus acquired 5,000 shares of the stock in a transaction on Thursday, August 1st. The shares were purchased at an average price of $10.66 per share, for a total transaction of $53,300.00. Following the transaction, the director now directly owns 66,668 shares of the company’s stock, valued at $710,680.88. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Marcus Lemonis purchased 3,700 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was bought at an average price of $13.64 per share, with a total value of $50,468.00. Following the completion of the purchase, the chairman now owns 197,593 shares of the company’s stock, valued at approximately $2,695,168.52. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Beyond

Institutional investors have recently modified their holdings of the business. SRN Advisors LLC raised its stake in shares of Beyond by 2.4% in the first quarter. SRN Advisors LLC now owns 44,631 shares of the company’s stock worth $1,603,000 after purchasing an additional 1,061 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Beyond by 8.2% in the second quarter. The Manufacturers Life Insurance Company now owns 17,818 shares of the company’s stock valued at $233,000 after purchasing an additional 1,348 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of Beyond in the first quarter worth $66,000. DekaBank Deutsche Girozentrale purchased a new position in Beyond during the 1st quarter valued at about $71,000. Finally, Lazard Asset Management LLC bought a new stake in Beyond during the first quarter valued at $70,000. Institutional investors own 76.30% of the company’s stock.

About Beyond

Beyond, Inc operates as an online retailer of furniture and home furnishings products in the United States and Canada. The company offers furniture, bedding and bath, patio and outdoor gear, area rugs, tabletop and cookware, décor, storage and organization, small appliances, home improvement, and other products under the Bed Bath & Beyond brand.