Falcon’s Beyond Global (NASDAQ:FBYD) Trading Down 9.4% – Here’s What Happened

Shares of Falcon’s Beyond Global, Inc. (NASDAQ:FBYD) dropped 9.4% on Friday . The stock traded as low as $15.49 and last traded at $15.2670. Approximately 59,046 shares traded hands during mid-day trading, a decline of 45% from the average daily volume of 106,569 shares. The stock had previously closed at $16.86.

Analyst Ratings Changes

FBYD has been the topic of a number of recent analyst reports. Wall Street Zen raised Falcon’s Beyond Global from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Weiss Ratings downgraded shares of Falcon’s Beyond Global from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Falcon’s Beyond Global Stock Down 9.8%

The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.25. The firm has a market cap of $1.84 billion, a P/E ratio of 72.40 and a beta of -2.84. The stock’s 50-day simple moving average is $14.52 and its 200 day simple moving average is $11.25.

Falcon’s Beyond Global (NASDAQ:FBYD) last posted its quarterly earnings data on Monday, March 30th. The company reported ($0.01) earnings per share for the quarter. The business had revenue of $6.58 million during the quarter. Falcon’s Beyond Global had a negative return on equity of 8.25% and a net margin of 51.31%.

Hedge Funds Weigh In On Falcon’s Beyond Global

Several institutional investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC bought a new position in shares of Falcon’s Beyond Global during the 4th quarter worth approximately $30,000. Strs Ohio bought a new stake in shares of Falcon’s Beyond Global in the 4th quarter valued at $39,000. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Falcon’s Beyond Global during the 4th quarter valued at $47,000. Bank of America Corp DE lifted its position in shares of Falcon’s Beyond Global by 8,008.5% during the 3rd quarter. Bank of America Corp DE now owns 3,811 shares of the company’s stock valued at $42,000 after acquiring an additional 3,764 shares during the period. Finally, Clear Street Group Inc. bought a new position in Falcon’s Beyond Global during the third quarter worth $53,000. 38.88% of the stock is owned by institutional investors and hedge funds.

Falcon’s Beyond Global Company Profile

Falcon’s Beyond Global, Inc is an experiential entertainment development enterprise. It connects the world by bringing stories to life through theme parks, resorts, animation, consumer products, gaming, and movies. The company propels intellectual property activations concurrently across physical and digital experiences through three core business units. Falcon’s Creative Group is a themed entertainment and master planning firm. Falcon’s Beyond Destinations develops, owns, and operates global entertainment destinations from resorts, theme parks, and attractions to retail, dining and location-based entertainment venues.