Beyond, Inc. (NYSE:BYON – Get Free Report)’s stock price reached a new 52-week low during mid-day trading on Wednesday after Wedbush lowered their price target on the stock from $37.00 to $25.00. Wedbush currently has an outperform rating on the stock. Beyond traded as low as $11.72 and last traded at $11.78, with a volume of 523043 shares. The stock had previously closed at $12.26.
Other equities research analysts have also recently issued research reports about the company. Barclays lowered their target price on 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 price target on Beyond from $15.50 to $15.00 and set a “neutral” rating for the company in a report on Wednesday. Piper Sandler reduced their target price on Beyond from $17.00 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday. Maxim Group reduced their target price on Beyond from $50.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Beyond in a research report on Monday, May 20th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Beyond currently has an average rating of “Hold” and a consensus target price of $27.29.
Insider Activity at Beyond
In other news, Chairman Marcus Lemonis bought 3,700 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was acquired 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 directly owns 197,593 shares of the company’s stock, valued at approximately $2,695,168.52. The acquisition was disclosed in a filing with the SEC, which is available at this link. In related news, Chairman Marcus Lemonis purchased 3,700 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was acquired at an average price of $13.64 per share, for a total transaction of $50,468.00. Following the transaction, the chairman now directly owns 197,593 shares of the company’s stock, valued at approximately $2,695,168.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph J. Tabacco, Jr. acquired 12,400 shares of Beyond stock in a transaction that occurred on Wednesday, May 8th. The stock was acquired at an average cost of $16.01 per share, with a total value of $198,524.00. Following the completion of the purchase, the director now owns 97,458 shares in the company, valued at approximately $1,560,302.58. The disclosure for this purchase can be found here. Insiders bought 40,095 shares of company stock valued at $596,237 over the last 90 days. 1.20% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Beyond
Hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC bought a new position in shares of Beyond in the 2nd quarter valued at approximately $46,000. Public Employees Retirement System of Ohio acquired a new stake in Beyond in the 1st quarter valued at approximately $66,000. Lazard Asset Management LLC acquired a new stake in Beyond in the 1st quarter valued at approximately $70,000. DekaBank Deutsche Girozentrale acquired a new stake in Beyond in the 1st quarter valued at approximately $71,000. Finally, Tobam acquired a new stake in Beyond in the 2nd quarter valued at approximately $78,000. 76.30% of the stock is owned by hedge funds and other institutional investors.
Beyond Price Performance
The stock has a market cap of $531.16 million, a price-to-earnings ratio of -1.42 and a beta of 3.70. The stock has a fifty day simple moving average of $13.93 and a 200-day simple moving average of $22.08. The company has a current ratio of 1.24, a quick ratio of 1.19 and a debt-to-equity ratio of 0.12.
Beyond (NYSE:BYON – Get Free Report) last announced 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. The company had revenue of $398.10 million for the quarter, compared to analyst estimates of $381.74 million. Beyond had a negative return on equity of 44.66% and a negative net margin of 22.03%. Beyond’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.02) EPS. As a group, equities research analysts expect that Beyond, Inc. will post -3.3 EPS for the current year.
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.