Short Interest in Beyond, Inc. (NYSE:BYON) Drops By 10.5%

Beyond, Inc. (NYSE:BYON) was the recipient of a large drop in short interest in September. As of September 30th, there was short interest totalling 5,690,000 shares, a drop of 10.5% from the September 15th total of 6,360,000 shares. Currently, 12.6% of the company’s shares are short sold. Based on an average daily volume of 2,160,000 shares, the days-to-cover ratio is currently 2.6 days.

Beyond Price Performance

NYSE:BYON traded down $0.18 during trading hours on Thursday, reaching $10.11. The company had a trading volume of 1,430,708 shares, compared to its average volume of 1,819,516. The company has a quick ratio of 1.08, a current ratio of 1.14 and a debt-to-equity ratio of 0.14. The stock has a 50-day moving average of $10.25 and a two-hundred day moving average of $14.85. Beyond has a one year low of $8.91 and a one year high of $37.10. The firm has a market capitalization of $462.53 million, a PE ratio of -1.24 and a beta of 3.65.

Beyond (NYSE:BYON) last issued its quarterly earnings data on Monday, July 29th. The company reported ($0.76) earnings per share for the quarter, topping the consensus estimate of ($0.89) by $0.13. Beyond had a negative net margin of 22.03% and a negative return on equity of 49.00%. The firm had revenue of $398.10 million for the quarter, compared to analysts’ expectations of $381.74 million. During the same period in the prior year, the firm earned ($0.02) earnings per share. The company’s quarterly revenue was down 5.7% compared to the same quarter last year. Analysts forecast that Beyond will post -3.55 earnings per share for the current year.

Analyst Ratings Changes

BYON has been the subject of a number of analyst reports. Piper Sandler reduced their price target on Beyond from $17.00 to $14.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Wedbush lowered their price target on Beyond from $37.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Jefferies Financial Group reduced their price objective on shares of Beyond from $14.00 to $11.00 and set a “hold” rating for the company in a research note on Monday, September 23rd. Barclays lowered their target price on shares of Beyond from $22.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Friday, July 26th. Finally, Bank of America cut their target price on shares of Beyond from $15.50 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Beyond has an average rating of “Hold” and a consensus price target of $25.25.

Insider Buying and Selling

In other news, Director Barclay F. Corbus acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was purchased at an average price of $10.66 per share, with a total value 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. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Beyond news, Director Barclay F. Corbus acquired 5,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was purchased at an average cost of $10.66 per share, for a total transaction of $53,300.00. Following the transaction, the director now owns 66,668 shares of the company’s stock, valued at $710,680.88. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William Benjamin Nettles, Jr. sold 10,412 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $9.35, for a total value of $97,352.20. Following the completion of the transaction, the director now owns 11,368 shares in the company, valued at $106,290.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Beyond

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Boston Partners acquired a new stake in shares of Beyond in the 1st quarter valued at $2,152,000. Rhumbline Advisers bought a new position in Beyond in the second quarter valued at about $1,001,000. ProShare Advisors LLC bought a new position in Beyond in the second quarter valued at about $3,800,000. Price T Rowe Associates Inc. MD acquired a new stake in Beyond in the first quarter worth about $795,000. Finally, Second Line Capital LLC bought a new stake in Beyond during the 2nd quarter worth about $1,581,000. Institutional investors and hedge funds 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.