Beyond (NYSE:BYON) Reaches New 12-Month Low on Analyst Downgrade

Beyond, Inc. (NYSE:BYON)’s share price reached a new 52-week low during trading on Wednesday after Bank of America lowered their price target on the stock from $15.50 to $15.00. Bank of America currently has a neutral rating on the stock. Beyond traded as low as $11.72 and last traded at $11.78, with a volume of 523043 shares. The stock had previously closed at $12.26.

A number of other research analysts also recently issued reports on BYON. Maxim Group decreased their price target on Beyond from $50.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Piper Sandler decreased their price target on Beyond from $26.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. Barclays decreased their price target on Beyond from $22.00 to $16.00 and set an “equal weight” rating for the company in a report on Friday, July 26th. Wedbush reissued an “outperform” rating and issued a $37.00 price target on shares of Beyond in a report on Wednesday, July 24th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Beyond in a report on Monday, May 20th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $29.43.

Insider Activity

In other news, 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 purchased 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 in the company, valued at $1,560,302.58. The transaction was disclosed in a legal 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 company’s stock in a transaction dated Thursday, June 6th. The shares were acquired at an average price of $14.61 per share, for a total transaction of $249,465.75. Following the acquisition, the chairman now owns 186,973 shares in the company, valued at approximately $2,731,675.53. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Joseph J. Tabacco, Jr. purchased 12,400 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were purchased at an average price of $16.01 per share, for a total transaction of $198,524.00. Following the purchase, the director now directly owns 97,458 shares in the company, valued at $1,560,302.58. The disclosure for this purchase can be found here. Insiders have acquired a total of 40,095 shares of company stock valued at $596,237 in the last quarter. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BYON. Tidal Investments LLC acquired a new stake in Beyond during the 1st quarter worth approximately $33,599,000. Refined Wealth Management acquired a new stake in Beyond during the 2nd quarter worth approximately $4,201,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Beyond during the 1st quarter worth approximately $8,956,000. Bank of New York Mellon Corp acquired a new stake in Beyond during the 2nd quarter worth approximately $2,188,000. Finally, Lee Danner & Bass Inc. acquired a new stake in Beyond during the 2nd quarter worth approximately $1,693,000. Hedge funds and other institutional investors own 76.30% of the company’s stock.

Beyond Stock Down 7.0 %

The business has a 50-day simple moving average of $13.93 and a two-hundred day simple moving average of $22.08. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.19 and a current ratio of 1.24. The company has a market capitalization of $521.55 million, a price-to-earnings ratio of -1.37 and a beta of 3.70.

Beyond (NYSE:BYON) last posted its quarterly earnings results on Monday, July 29th. The company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($0.89) by $0.13. The business had revenue of $398.10 million during the quarter, compared to analysts’ expectations of $381.74 million. Beyond had a negative return on equity of 44.66% and a negative net margin of 22.03%. The company’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.02) EPS. As a group, equities analysts predict that Beyond, Inc. will post -3.3 EPS for the current year.

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.