Beyond (NYSE:BYON) Cut to “Sell” at Argus

Argus lowered shares of Beyond (NYSE:BYON) from a hold rating to a sell rating in a report released on Wednesday morning, Marketbeat reports.

Other equities research analysts also recently issued reports about the company. Needham & Company LLC restated a “buy” rating and issued a $13.00 price target on shares of Beyond in a report on Wednesday, October 23rd. Piper Sandler lowered their target price on Beyond from $14.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Barclays cut their price target on shares of Beyond from $14.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th. Wedbush lowered their price objective on shares of Beyond from $25.00 to $15.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Finally, Bank of America cut shares of Beyond from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $12.50 to $6.00 in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Beyond presently has an average rating of “Hold” and an average price target of $16.50.

Beyond Price Performance

Shares of BYON stock opened at $5.09 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.97 and a debt-to-equity ratio of 0.17. Beyond has a 12-month low of $4.90 and a 12-month high of $37.10. The firm has a fifty day moving average of $6.72 and a 200-day moving average of $9.98. The firm has a market capitalization of $234.37 million, a price-to-earnings ratio of -0.69 and a beta of 3.70.

Insider Transactions at Beyond

In related news, Chairman Marcus Lemonis acquired 156,985 shares of the company’s stock in a transaction dated Sunday, October 27th. The shares were bought at an average price of $6.37 per share, for a total transaction of $999,994.45. Following the purchase, the chairman now directly owns 365,530 shares in the company, valued at approximately $2,328,426.10. This trade represents a 75.28 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Beyond

Institutional investors have recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC acquired a new stake in Beyond in the second quarter valued at $44,000. CWM LLC acquired a new stake in Beyond in the 2nd quarter valued at about $46,000. Hollencrest Capital Management acquired a new stake in Beyond in the 2nd quarter valued at about $46,000. Sunbelt Securities Inc. bought a new position in Beyond during the second quarter worth about $47,000. Finally, Meeder Asset Management Inc. acquired a new position in Beyond during the second quarter worth approximately $75,000. 76.30% of the stock is currently owned by institutional investors and hedge funds.

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.