Beyond, Inc. (NYSE:BYON – Get Free Report) was the target of a large increase in short interest during the month of August. As of August 15th, there was short interest totalling 5,670,000 shares, an increase of 16.7% from the July 31st total of 4,860,000 shares. Based on an average trading volume of 2,210,000 shares, the days-to-cover ratio is presently 2.6 days. Currently, 12.6% of the company’s shares are sold short.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on BYON shares. Wedbush lowered their price objective on shares of Beyond from $37.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Barclays reduced 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. Needham & Company LLC reissued a “hold” rating on shares of Beyond in a report on Monday, May 20th. Piper Sandler decreased their price target on shares of Beyond from $17.00 to $14.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Finally, Bank of America dropped their price objective on shares of Beyond from $15.50 to $15.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $27.29.
Beyond Price Performance
BYON traded down $0.26 during midday trading on Monday, hitting $9.83. 1,796,800 shares of the company traded hands, compared to its average volume of 1,849,499. The company has a market capitalization of $449.72 million, a price-to-earnings ratio of -1.21 and a beta of 3.70. Beyond has a 52-week low of $9.05 and a 52-week high of $37.10. The business has a 50 day simple moving average of $11.86 and a two-hundred day simple moving average of $19.96. The company has a current ratio of 1.14, a quick ratio of 1.08 and a debt-to-equity ratio of 0.14.
Beyond (NYSE:BYON – Get Free Report) last announced its quarterly earnings data on Monday, July 29th. The company reported ($0.76) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.13. The firm had revenue of $398.10 million during 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%. Beyond’s quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.02) earnings per share. On average, equities analysts forecast that Beyond will post -3.54 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Beyond news, Director William Benjamin Nettles, Jr. sold 10,412 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was 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 of the company’s stock, valued at approximately $106,290.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman Marcus Lemonis purchased 17,075 shares of Beyond stock in a transaction that occurred on Thursday, June 6th. The stock was bought at an average price of $14.61 per share, with a total value of $249,465.75. Following the completion of the transaction, the chairman now directly owns 186,973 shares of the company’s stock, valued at $2,731,675.53. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William Benjamin Nettles, Jr. sold 10,412 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $9.35, for a total value of $97,352.20. Following the sale, the director now owns 11,368 shares in the company, valued at $106,290.80. The disclosure for this sale can be found here. Insiders have purchased a total of 32,695 shares of company stock worth $451,013 in the last ninety days. 1.20% of the stock is owned by insiders.
Hedge Funds Weigh In On Beyond
Institutional investors have recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC purchased a new position in Beyond in the second quarter valued at $44,000. CWM LLC purchased a new position in shares of Beyond in the 2nd quarter valued at about $46,000. Hollencrest Capital Management acquired a new position in shares of Beyond during the second quarter worth about $46,000. Sunbelt Securities Inc. purchased a new stake in shares of Beyond during the second quarter worth approximately $47,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in Beyond in the first quarter valued at approximately $66,000. 76.30% of the stock is owned by institutional investors and hedge funds.
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.