Beyond, Inc. (NYSE:BYON) Short Interest Update

Beyond, Inc. (NYSE:BYON) was the target of a significant increase in short interest in June. As of June 15th, there was short interest totalling 5,390,000 shares, an increase of 51.8% from the May 31st total of 3,550,000 shares. Based on an average daily trading volume, of 2,060,000 shares, the days-to-cover ratio is presently 2.6 days. Currently, 12.0% of the shares of the company are sold short.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Piper Sandler cut their target price on shares of Beyond from $26.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. Barclays cut their target price on shares of Beyond from $30.00 to $22.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 8th. Wedbush reiterated an “outperform” rating and issued a $37.00 target price on shares of Beyond in a research note on Tuesday, May 14th. Maxim Group cut their target price on shares of 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 reiterated a “hold” rating on shares of Beyond in a research note on Monday, May 20th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Beyond currently has an average rating of “Hold” and an average price target of $30.36.

Insider Buying and Selling

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 shares were acquired at an average cost of $13.64 per share, with a total value of $50,468.00. Following the completion of the transaction, the chairman now directly owns 197,593 shares in the company, valued at $2,695,168.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Beyond news, Director Joseph J. Tabacco, Jr. purchased 12,400 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was purchased at an average price of $16.01 per share, for a total transaction of $198,524.00. Following the completion of the purchase, the director now directly owns 97,458 shares in the company, valued at $1,560,302.58. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Marcus Lemonis purchased 3,700 shares of the business’s stock in a transaction on Friday, June 14th. The shares were acquired at an average price of $13.64 per share, with a total value of $50,468.00. Following the purchase, the chairman now owns 197,593 shares of the company’s stock, valued at $2,695,168.52. The disclosure for this purchase can be found here. Insiders have bought a total of 40,095 shares of company stock valued at $596,237 over the last three months. 1.20% of the stock is owned by corporate insiders.

Institutional Trading of Beyond

A number of institutional investors have recently bought and sold shares of BYON. Tidal Investments LLC acquired a new stake in Beyond during the 1st quarter worth $33,599,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Beyond during the 1st quarter worth $8,956,000. Shell Asset Management Co. acquired a new position in shares of Beyond in the 1st quarter valued at $2,271,000. Boston Partners acquired a new position in shares of Beyond in the 1st quarter valued at $2,152,000. Finally, California State Teachers Retirement System acquired a new position in shares of Beyond in the 1st quarter valued at $1,479,000. Institutional investors and hedge funds own 76.30% of the company’s stock.

Beyond Stock Performance

BYON stock opened at $13.08 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.24 and a quick ratio of 1.19. The company has a 50 day moving average price of $16.75 and a 200 day moving average price of $24.07. Beyond has a fifty-two week low of $12.18 and a fifty-two week high of $39.27. The stock has a market capitalization of $598.41 million, a PE ratio of -1.60 and a beta of 3.80.

Beyond (NYSE:BYON) last released its earnings results on Monday, May 6th. The company reported ($1.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.30). Beyond had a negative return on equity of 32.05% and a negative net margin of 23.67%. The business had revenue of $382.28 million for the quarter, compared to analyst estimates of $389.36 million. During the same period in the prior year, the firm posted ($0.10) EPS. Beyond’s revenue was up .3% on a year-over-year basis. Analysts forecast that Beyond will post -3.1 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.