Beyond (NYSE:BYON) Earns “Outperform” Rating from Wedbush

Beyond (NYSE:BYON)‘s stock had its “outperform” rating reiterated by equities researchers at Wedbush in a note issued to investors on Wednesday,RTT News reports. They presently have a $15.00 price target on the stock. Wedbush’s price target would suggest a potential upside of 67.50% from the company’s previous close.

BYON has been the topic of several other research reports. Barclays dropped their target price on Beyond from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 9th. Argus downgraded Beyond from a “hold” rating to a “sell” rating in a research report on Wednesday, December 18th. Needham & Company LLC reiterated a “buy” rating and issued a $13.00 target price on shares of Beyond in a report on Wednesday, October 23rd. Maxim Group lowered their price target on shares of Beyond from $33.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Finally, Piper Sandler cut their price objective on shares of Beyond from $14.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Beyond presently has an average rating of “Hold” and an average target price of $12.29.

Beyond Price Performance

NYSE BYON opened at $8.96 on Wednesday. The company has a market cap of $412.38 million, a PE ratio of -1.21 and a beta of 3.81. The firm’s 50 day moving average price is $6.10 and its 200-day moving average price is $8.26. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.91 and a current ratio of 0.97. Beyond has a 52-week low of $4.45 and a 52-week high of $37.10.

Hedge Funds Weigh In On Beyond

Several hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC acquired a new position in Beyond during the 2nd quarter valued at approximately $389,000. The Manufacturers Life Insurance Company grew its holdings in shares of Beyond by 8.2% during the second quarter. The Manufacturers Life Insurance Company now owns 17,818 shares of the company’s stock valued at $233,000 after buying an additional 1,348 shares during the last quarter. Algert Global LLC increased its position in shares of Beyond by 84.3% in the 2nd quarter. Algert Global LLC now owns 18,912 shares of the company’s stock valued at $247,000 after acquiring an additional 8,652 shares during the period. Sanctuary Advisors LLC purchased a new position in Beyond in the 2nd quarter worth $650,000. Finally, O Keefe Stevens Advisory Inc. lifted its position in Beyond by 67.9% during the 3rd quarter. O Keefe Stevens Advisory Inc. now owns 19,504 shares of the company’s stock worth $197,000 after acquiring an additional 7,889 shares during the period. 76.30% of the stock is owned by hedge funds and other 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.