Beyond, Inc. (NYSE:BYON) Sees Large Growth in Short Interest

Beyond, Inc. (NYSE:BYON) was the target of a significant increase in short interest in October. As of October 31st, there was short interest totalling 7,370,000 shares, an increase of 16.2% from the October 15th total of 6,340,000 shares. Approximately 16.3% of the company’s shares are sold short. Based on an average trading volume of 2,230,000 shares, the short-interest ratio is presently 3.3 days.

Beyond Stock Performance

Shares of BYON opened at $6.09 on Monday. Beyond has a 52 week low of $5.95 and a 52 week high of $37.10. The company has a quick ratio of 0.91, a current ratio of 0.97 and a debt-to-equity ratio of 0.17. The stock has a market cap of $280.44 million, a price-to-earnings ratio of -0.82 and a beta of 3.70. The business has a 50-day simple moving average of $9.00 and a two-hundred day simple moving average of $11.93.

Insider Activity at Beyond

In related news, Chairman Marcus Lemonis acquired 156,985 shares of the stock in a transaction on Sunday, October 27th. The stock was acquired at an average cost of $6.37 per share, for a total transaction of $999,994.45. Following the completion of the acquisition, the chairman now directly owns 365,530 shares of the company’s stock, valued at approximately $2,328,426.10. This represents a 75.28 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Boston Partners bought a new stake in shares of Beyond during the first quarter valued at approximately $2,152,000. Rhumbline Advisers purchased a new stake in Beyond in the 2nd quarter worth $1,001,000. ProShare Advisors LLC bought a new position in shares of Beyond during the 2nd quarter valued at about $3,800,000. Sanctuary Advisors LLC purchased a new position in shares of Beyond during the second quarter valued at about $650,000. Finally, Price T Rowe Associates Inc. MD bought a new stake in shares of Beyond in the first quarter worth about $795,000. Institutional investors own 76.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Jefferies Financial Group decreased their price target on shares of Beyond from $14.00 to $11.00 and set a “hold” rating for the company in a research note on Monday, September 23rd. Piper Sandler decreased their target price on shares of Beyond from $14.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Bank of America cut Beyond from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $12.50 to $6.00 in a research report on Friday, October 25th. Wedbush reduced their price objective on Beyond from $25.00 to $15.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Finally, Maxim Group dropped their target price on Beyond from $33.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $16.50.

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.