Beyond, Inc. (NYSE:BYON) Short Interest Up 16.7% in August

Beyond, Inc. (NYSE:BYON) was the recipient of a significant growth in short interest in August. As of August 15th, there was short interest totalling 5,670,000 shares, a growth of 16.7% from the July 31st total of 4,860,000 shares. Currently, 12.6% of the company’s shares are sold short. Based on an average daily volume of 2,210,000 shares, the short-interest ratio is currently 2.6 days.

Beyond Stock Performance

NYSE BYON traded down $0.26 during trading hours on Monday, reaching $9.83. 1,796,800 shares of the company were exchanged, compared to its average volume of 1,849,499. Beyond has a 1 year low of $9.05 and a 1 year high of $37.10. The business’s 50 day simple moving average is $11.86 and its 200-day simple moving average is $19.96. The stock has a market capitalization of $449.72 million, a P/E ratio of -1.21 and a beta of 3.70. The company has a quick ratio of 1.08, a current ratio of 1.14 and a debt-to-equity ratio of 0.14.

Beyond (NYSE:BYON) last posted its quarterly earnings results on Monday, July 29th. The company reported ($0.76) earnings per share for the quarter, topping the consensus estimate of ($0.89) by $0.13. Beyond had a negative net margin of 22.03% and a negative return on equity of 49.00%. The business had revenue of $398.10 million during the quarter, compared to the consensus estimate of $381.74 million. During the same period in the previous year, the firm posted ($0.02) earnings per share. The firm’s revenue for the quarter was down 5.7% on a year-over-year basis. On average, equities research analysts expect that Beyond will post -3.54 earnings per share for the current year.

Insider Buying and Selling at Beyond

In other news, Chairman Marcus Lemonis bought 17,075 shares of the stock in a transaction on Thursday, June 6th. The stock was purchased 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 $2,731,675.53. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Beyond news, Director William Benjamin Nettles, Jr. sold 10,412 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $9.35, for a total transaction of $97,352.20. Following the transaction, the director now owns 11,368 shares in the company, valued at approximately $106,290.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Marcus Lemonis bought 17,075 shares of Beyond stock in a transaction dated Thursday, June 6th. The shares were bought at an average cost of $14.61 per share, for a total transaction of $249,465.75. Following the completion of the acquisition, the chairman now owns 186,973 shares in the company, valued at approximately $2,731,675.53. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 32,695 shares of company stock valued at $451,013. Corporate insiders own 1.20% of the company’s stock.

Institutional Trading of Beyond

Several hedge funds and other institutional investors have recently made changes to their positions in BYON. American International Group Inc. purchased a new stake in Beyond during the first quarter valued at $799,000. CANADA LIFE ASSURANCE Co purchased a new stake in Beyond during the 1st quarter valued at approximately $157,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Beyond during the 1st quarter valued at about $8,956,000. Shell Asset Management Co. purchased a new stake in shares of Beyond in the first quarter worth about $2,271,000. Finally, Lazard Asset Management LLC bought a new stake in Beyond during the first quarter worth approximately $70,000. Hedge funds and other institutional investors own 76.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on BYON. Maxim Group dropped their price target on Beyond from $50.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. 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. Barclays reduced their price target on Beyond from $22.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Friday, July 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Beyond in a research note on Monday, May 20th. Finally, Bank of America decreased their target price on shares of Beyond from $15.50 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $27.29.

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.