Beyond, Inc. (NYSE:BYON) Receives Average Rating of “Hold” from Analysts

Shares of Beyond, Inc. (NYSE:BYON) have received a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $25.25.

A number of research firms have recently issued reports on BYON. Piper Sandler dropped their price objective 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. Bank of America decreased their price objective on shares of Beyond from $15.50 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Barclays dropped their target price on Beyond from $22.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Friday, July 26th. Wedbush lowered their price objective on Beyond from $37.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Finally, Jefferies Financial Group dropped their price objective on Beyond from $14.00 to $11.00 and set a “hold” rating on the stock in a report on Monday, September 23rd.

Beyond Stock Down 5.2 %

BYON stock opened at $10.25 on Wednesday. The company has a 50 day moving average price of $10.34 and a two-hundred day moving average price of $15.99. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.08 and a current ratio of 1.14. The stock has a market capitalization of $468.94 million, a P/E ratio of -1.26 and a beta of 3.65. Beyond has a one year low of $8.91 and a one year high of $37.10.

Beyond (NYSE:BYON) last released its earnings results 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. 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 during the quarter, compared to the consensus estimate of $381.74 million. During the same period in the previous year, the firm earned ($0.02) earnings per share. Beyond’s revenue was down 5.7% compared to the same quarter last year. As a group, sell-side analysts expect that Beyond will post -3.55 EPS for the current year.

Insider Buying and Selling at Beyond

In other news, Director Barclay F. Corbus purchased 5,000 shares of Beyond stock in a transaction dated Thursday, August 1st. The stock was acquired at an average cost of $10.66 per share, for a total transaction of $53,300.00. Following the acquisition, the director now directly owns 66,668 shares in the company, valued at $710,680.88. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Beyond news, Director William Benjamin Nettles, Jr. sold 10,412 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $9.35, for a total transaction of $97,352.20. Following the completion of the sale, the director now directly owns 11,368 shares in the company, valued at $106,290.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Barclay F. Corbus bought 5,000 shares of the stock in a transaction on Thursday, August 1st. The stock was acquired at an average cost of $10.66 per share, for a total transaction of $53,300.00. Following the acquisition, the director now directly owns 66,668 shares in the company, valued at approximately $710,680.88. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Beyond

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio acquired a new position in shares of Beyond in the 1st quarter worth approximately $66,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Beyond in the 1st quarter worth about $71,000. Lazard Asset Management LLC acquired a new stake in shares of Beyond during the first quarter worth approximately $70,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Beyond in the second quarter valued at approximately $44,000. Finally, Hollencrest Capital Management acquired a new position in shares of Beyond in the 2nd quarter worth approximately $46,000. 76.30% of the stock is currently owned by institutional investors.

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.