Beyond (NYSE:BYON) Trading Down 4%

Beyond, Inc. (NYSE:BYON) shares traded down 4% during trading on Wednesday . The stock traded as low as $12.31 and last traded at $12.37. 964,056 shares were traded during mid-day trading, a decline of 42% from the average session volume of 1,668,337 shares. The stock had previously closed at $12.88.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Maxim Group lowered their price objective on shares of Beyond from $50.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Barclays decreased their target price on shares of Beyond from $30.00 to $22.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 8th. Bank of America decreased their target price on shares of Beyond from $19.00 to $15.50 and set a “neutral” rating for the company in a research note on Tuesday, June 18th. Piper Sandler decreased their target price on shares of Beyond from $26.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Beyond in a research note on Monday, May 20th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $30.36.

Beyond Stock Up 3.8 %

The company has a market cap of $638.67 million, a P/E ratio of -1.78 and a beta of 3.70. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.24 and a quick ratio of 1.19. The company’s 50-day moving average is $15.19 and its two-hundred day moving average is $23.29.

Beyond (NYSE:BYON) last announced its quarterly earnings results on Monday, May 6th. The company reported ($1.22) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.30). The firm had revenue of $382.28 million for the quarter, compared to the consensus estimate of $389.36 million. Beyond had a negative net margin of 23.67% and a negative return on equity of 32.05%. Beyond’s revenue was up .3% on a year-over-year basis. During the same period last year, the business earned ($0.10) EPS. As a group, equities analysts predict that Beyond, Inc. will post -3.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Joseph J. Tabacco, Jr. bought 12,400 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were bought at an average price of $16.01 per share, for a total transaction of $198,524.00. Following the completion of the acquisition, the director now owns 97,458 shares of the company’s stock, valued at approximately $1,560,302.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Beyond news, Director Joseph J. Tabacco, Jr. acquired 12,400 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was purchased at an average price of $16.01 per share, with a total value of $198,524.00. Following the transaction, the director now directly owns 97,458 shares in the company, valued at approximately $1,560,302.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Marcus Lemonis acquired 17,075 shares of Beyond stock in a transaction dated Thursday, June 6th. The stock was bought at an average price of $14.61 per share, with a total value of $249,465.75. Following the completion of the purchase, the chairman now directly owns 186,973 shares in the company, valued at $2,731,675.53. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 40,095 shares of company stock worth $596,237. 1.20% of the stock is owned by insiders.

Institutional Trading of Beyond

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Tidal Investments LLC purchased a new stake in Beyond in the first quarter worth about $33,599,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Beyond in the first quarter worth about $8,956,000. Shell Asset Management Co. bought a new position in shares of Beyond in the first quarter worth about $2,271,000. Boston Partners bought a new position in shares of Beyond in the first quarter worth about $2,152,000. Finally, SRN Advisors LLC boosted its stake in shares of Beyond by 2.4% in the first quarter. SRN Advisors LLC now owns 44,631 shares of the company’s stock worth $1,603,000 after acquiring an additional 1,061 shares during the period. Hedge funds and other institutional investors own 76.30% of the company’s stock.

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.