Beyond (NYSE:BYON) Downgraded by Bank of America to Underperform

Bank of America lowered shares of Beyond (NYSE:BYON) from a neutral rating to an underperform rating in a report released on Friday, Marketbeat.com reports. The brokerage currently has $6.00 price target on the stock, down from their prior price target of $12.50.

Several other brokerages have also commented on BYON. Jefferies Financial Group decreased their target price on Beyond from $14.00 to $11.00 and set a “hold” rating for the company in a research report on Monday, September 23rd. Barclays reduced their price target on shares of Beyond from $22.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Friday, July 26th. Piper Sandler lowered their price objective on shares of Beyond from $17.00 to $14.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Wedbush cut their target price on shares of Beyond from $37.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Finally, Needham & Company LLC restated a “buy” rating and set a $13.00 price objective on shares of Beyond in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Beyond currently has a consensus rating of “Hold” and an average price target of $17.50.

Beyond Trading Down 4.8 %

NYSE:BYON opened at $6.37 on Friday. The stock has a market cap of $291.43 million, a price-to-earnings ratio of -0.86 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. The business’s 50-day simple moving average is $10.23 and its 200 day simple moving average is $14.04. Beyond has a one year low of $6.06 and a one year high of $37.10.

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, beating the consensus estimate of ($0.89) by $0.13. The firm had revenue of $398.10 million for the quarter, compared to analysts’ expectations of $381.74 million. Beyond had a negative net margin of 22.03% and a negative return on equity of 49.00%. The firm’s quarterly revenue was down 5.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.02) earnings per share. As a group, sell-side analysts predict that Beyond will post -3.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Beyond

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

Institutional Investors Weigh In On Beyond

A number of institutional investors and hedge funds have recently modified their holdings of BYON. Semanteon Capital Management LP raised its position in shares of Beyond by 76.2% during the third quarter. Semanteon Capital Management LP now owns 113,959 shares of the company’s stock worth $1,149,000 after purchasing an additional 49,300 shares during the period. SRN Advisors LLC lifted its stake in Beyond by 48.6% during the third quarter. SRN Advisors LLC now owns 121,001 shares of the company’s stock valued at $1,220,000 after buying an additional 39,596 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Beyond in the third quarter worth about $2,035,000. Fortis Group Advisors LLC boosted its holdings in shares of Beyond by 14.4% in the third quarter. Fortis Group Advisors LLC now owns 13,689 shares of the company’s stock worth $138,000 after buying an additional 1,724 shares during the period. Finally, Capstone Wealth Management Group LLC increased its position in shares of Beyond by 28.5% in the third quarter. Capstone Wealth Management Group LLC now owns 94,323 shares of the company’s stock worth $951,000 after acquiring an additional 20,923 shares in the last quarter. Institutional investors and hedge funds own 76.30% of the company’s stock.

Beyond Company Profile

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.