Beyond (NYSE:BYON) Downgraded to “Underperform” at Bank of America

Beyond (NYSE:BYON) was downgraded by analysts at Bank of America from a “neutral” rating to an “underperform” rating in a note issued to investors on Friday, Briefing.com reports. They currently have a $6.00 price objective on the stock, down from their prior price objective of $12.50. Bank of America‘s price objective would suggest a potential downside of 10.31% from the company’s current price.

A number of other analysts also recently commented on BYON. Needham & Company LLC reaffirmed a “buy” rating and set a $13.00 price target on shares of Beyond in a research report on Wednesday. Wedbush decreased their target price on Beyond from $37.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Piper Sandler cut their price target on shares of Beyond from $17.00 to $14.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Jefferies Financial Group decreased their price objective on shares of Beyond from $14.00 to $11.00 and set a “hold” rating for the company in a report on Monday, September 23rd. Finally, Barclays dropped 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 note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $19.50.

Beyond Stock Performance

NYSE BYON opened at $6.69 on Friday. The company has a fifty day moving average price of $10.30 and a 200-day moving average price of $14.09. The firm has a market cap of $306.07 million, a price-to-earnings ratio of -0.90 and a beta of 3.65. 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 has a 1 year low of $6.30 and a 1 year high of $37.10.

Beyond (NYSE:BYON) last released its quarterly earnings results on Thursday, October 24th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of ($0.84) by ($0.12). The firm had revenue of $311.43 million for the quarter, compared to analysts’ expectations of $351.50 million. Beyond had a negative return on equity of 49.00% and a negative net margin of 22.03%. As a group, equities research analysts predict that Beyond will post -3.55 EPS for the current fiscal year.

Insider Activity at Beyond

In other Beyond news, Director Barclay F. Corbus bought 5,000 shares of the business’s stock in a transaction 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 completion of the transaction, the director now directly owns 66,668 shares of the company’s stock, valued at $710,680.88. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Barclay F. Corbus bought 5,000 shares of Beyond stock in a transaction on Thursday, August 1st. The shares were bought at an average cost of $10.66 per share, with a total value of $53,300.00. Following the acquisition, the director now directly owns 66,668 shares in the company, valued at approximately $710,680.88. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Beyond

A number of large investors have recently modified their holdings of the company. Semanteon Capital Management LP lifted its stake in Beyond by 76.2% in the 3rd quarter. Semanteon Capital Management LP now owns 113,959 shares of the company’s stock worth $1,149,000 after purchasing an additional 49,300 shares in the last quarter. SRN Advisors LLC increased its holdings in shares of Beyond by 48.6% in the third quarter. SRN Advisors LLC now owns 121,001 shares of the company’s stock worth $1,220,000 after purchasing an additional 39,596 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Beyond in the third quarter worth $2,035,000. Fortis Group Advisors LLC boosted its stake in Beyond by 14.4% during the third quarter. Fortis Group Advisors LLC now owns 13,689 shares of the company’s stock valued at $138,000 after buying an additional 1,724 shares during the period. Finally, Capstone Wealth Management Group LLC grew its position in Beyond by 28.5% during the third quarter. Capstone Wealth Management Group LLC now owns 94,323 shares of the company’s stock worth $951,000 after buying an additional 20,923 shares in the last quarter. 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.