Beyond, Inc. (NYSE:BYON) Short Interest Up 6.7% in September

Beyond, Inc. (NYSE:BYON) was the target of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 6,360,000 shares, a growth of 6.7% from the August 31st total of 5,960,000 shares. Approximately 14.1% of the company’s stock are sold short. Based on an average daily trading volume, of 2,190,000 shares, the days-to-cover ratio is presently 2.9 days.

Insider Transactions at Beyond

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

Hedge Funds Weigh In On Beyond

Institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio purchased a new position in Beyond in the 1st quarter valued at about $66,000. DekaBank Deutsche Girozentrale acquired a new position in Beyond in the 1st quarter valued at $71,000. Lazard Asset Management LLC purchased a new position in shares of Beyond during the 1st quarter worth $70,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Beyond during the second quarter worth $44,000. Finally, Hollencrest Capital Management purchased a new stake in shares of Beyond in the second quarter valued at $46,000. 76.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on BYON shares. Jefferies Financial Group dropped their price target on shares of Beyond from $14.00 to $11.00 and set a “hold” rating on the stock in a research note on Monday, September 23rd. Piper Sandler cut 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, July 31st. Bank of America decreased their price target on Beyond from $15.50 to $15.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Wedbush cut their price objective on Beyond from $37.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Finally, Barclays decreased their target price 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. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Beyond presently has a consensus rating of “Hold” and an average target price of $25.25.

Beyond Price Performance

BYON traded down $0.12 during trading on Monday, reaching $10.08. 1,064,995 shares of the stock were exchanged, compared to its average volume of 1,838,993. Beyond has a 1 year low of $9.05 and a 1 year high of $37.10. The company has a market capitalization of $461.16 million, a price-to-earnings ratio of -1.24 and a beta of 3.64. The business’s 50 day moving average price is $10.69 and its two-hundred day moving average price is $16.84. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.14 and a quick ratio of 1.08.

Beyond (NYSE:BYON) last issued its quarterly earnings data on Monday, July 29th. The company reported ($0.76) EPS for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.13. Beyond had a negative net margin of 22.03% and a negative return on equity of 49.00%. The firm had revenue of $398.10 million for the quarter, compared to analysts’ expectations of $381.74 million. During the same period in the prior year, the company earned ($0.02) EPS. The firm’s revenue was down 5.7% on a year-over-year basis. As a group, equities research analysts anticipate that Beyond will post -3.54 earnings per share 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.