Beyond (NYSE:BYON) Trading Down 2.9%

Beyond, Inc. (NYSE:BYON)’s stock price dropped 2.9% during mid-day trading on Monday . The company traded as low as $13.50 and last traded at $13.56. Approximately 381,120 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 1,721,156 shares. The stock had previously closed at $13.96.

Wall Street Analyst Weigh In

BYON has been the topic of a number of analyst reports. Bank of America dropped their price objective on shares of Beyond from $19.00 to $15.50 and set a “neutral” rating on the stock in a research note on Tuesday, June 18th. Piper Sandler reduced their target price on Beyond from $26.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. Maxim Group decreased their price target on shares of Beyond from $50.00 to $36.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Beyond in a research note on Monday, May 20th. Finally, Wedbush restated an “outperform” rating and set a $37.00 target price on shares of Beyond in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Beyond currently has a consensus rating of “Hold” and an average price target of $30.36.

Beyond Stock Performance

The firm has a 50 day simple moving average of $14.28 and a 200-day simple moving average of $22.43. The company has a market cap of $581.94 million, a price-to-earnings ratio of -1.56 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.

Beyond (NYSE:BYON) last posted its 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 company had revenue of $382.28 million during the quarter, compared to analyst estimates of $389.36 million. Beyond had a negative net margin of 23.67% and a negative return on equity of 32.05%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the business posted ($0.10) EPS. As a group, analysts predict that Beyond, Inc. will post -3.1 EPS for the current fiscal year.

Insider Activity

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

Institutional Trading of Beyond

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American International Group Inc. purchased a new stake in Beyond in the first quarter valued at $799,000. CANADA LIFE ASSURANCE Co acquired a new position in shares of Beyond in the 1st quarter valued at $157,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Beyond during the 1st quarter worth $8,956,000. Shell Asset Management Co. acquired a new position in Beyond in the first quarter valued at $2,271,000. Finally, Lazard Asset Management LLC acquired a new stake in shares of Beyond during the first quarter worth about $70,000. Institutional investors and hedge funds 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.