Beyond (NYSE:BYON) Stock Rating Lowered by Needham & Company LLC

Needham & Company LLC downgraded shares of Beyond (NYSE:BYON) from a buy rating to a hold rating in a research note released on Wednesday, MarketBeat.com reports. Needham & Company LLC currently has $9.00 price target on the stock.

BYON has been the subject of several other research reports. Wedbush reissued an “outperform” rating and issued a $15.00 price objective on shares of Beyond in a research report on Wednesday, February 5th. Maxim Group dropped their price objective on shares of Beyond from $26.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Barclays dropped their price objective on shares of Beyond from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, January 9th. Finally, Argus lowered shares of Beyond from a “hold” rating to a “sell” rating in a report on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $10.29.

Beyond Price Performance

Beyond stock opened at $5.69 on Wednesday. Beyond has a 52-week low of $4.45 and a 52-week high of $37.10. The firm has a fifty day moving average of $6.98 and a 200-day moving average of $7.78. The firm has a market capitalization of $302.55 million, a P/E ratio of -0.77 and a beta of 3.91. The company has a quick ratio of 0.91, a current ratio of 0.97 and a debt-to-equity ratio of 0.17.

Beyond (NYSE:BYON) last released its quarterly earnings data on Monday, February 24th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($0.17). Beyond had a negative return on equity of 69.32% and a negative net margin of 22.82%. The business had revenue of $303.15 million during the quarter, compared to analyst estimates of $337.96 million. As a group, analysts predict that Beyond will post -3.75 EPS for the current year.

Institutional Investors Weigh In On Beyond

A number of large investors have recently added to or reduced their stakes in BYON. Kohmann Bosshard Financial Services LLC bought a new position in Beyond during the 4th quarter valued at $30,000. R Squared Ltd bought a new position in Beyond during the 4th quarter valued at $32,000. Skandinaviska Enskilda Banken AB publ boosted its stake in Beyond by 68.4% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 6,592 shares of the company’s stock valued at $32,000 after acquiring an additional 2,678 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in Beyond during the 4th quarter valued at $32,000. Finally, KLP Kapitalforvaltning AS bought a new position in Beyond during the 4th quarter valued at $39,000. 76.30% of the stock is owned by institutional investors and hedge funds.

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.