Falcon’s Beyond Global (NASDAQ:FBYD) Shares Gap Down – Here’s What Happened

Falcon’s Beyond Global, Inc. (NASDAQ:FBYD) shares gapped down before the market opened on Friday. The stock had previously closed at $7.72, but opened at $6.56. Falcon’s Beyond Global shares last traded at $6.7090, with a volume of 4,408 shares changing hands.

Analysts Set New Price Targets

Several research firms recently weighed in on FBYD. Weiss Ratings cut shares of Falcon’s Beyond Global from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, September 16th. Wall Street Zen lowered shares of Falcon’s Beyond Global from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

Falcon’s Beyond Global Stock Up 0.2%

The stock has a fifty day moving average of $7.85 and a 200 day moving average of $10.18. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a market capitalization of $823.96 million, a P/E ratio of -67.85 and a beta of -2.33.

Falcon’s Beyond Global (NASDAQ:FBYD) last announced its earnings results on Thursday, August 13th. The company reported ($0.01) earnings per share (EPS) for the quarter. The business had revenue of $5.62 million for the quarter. Falcon’s Beyond Global had a negative net margin of 8.60% and a negative return on equity of 50.04%.

Institutional Trading of Falcon’s Beyond Global

Hedge funds have recently added to or reduced their stakes in the stock. Black Diamond Financial LLC bought a new position in shares of Falcon’s Beyond Global during the 3rd quarter valued at approximately $85,000. State Street Corp increased its stake in shares of Falcon’s Beyond Global by 88.1% during the 2nd quarter. State Street Corp now owns 399,673 shares of the company’s stock worth $7,162,000 after purchasing an additional 187,164 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Falcon’s Beyond Global during the 2nd quarter worth approximately $1,067,000. Institutional investors own 38.88% of the company’s stock.

Falcon’s Beyond Global Company Profile

Falcon’s Beyond Global, Inc is an entertainment and technology company that develops immersive destinations, intellectual property and branded experiences. Its activities span theme parks, resorts, attractions, media, merchandise and other forms of location-based entertainment, with a focus on combining storytelling, creative design and technology.

The company operates through businesses that develop and manage destination entertainment projects, create and license original characters and brands, and produce content and experiences for consumers.