Falcon’s Beyond Global (NASDAQ:FBYD) Shares Gap Up – Here’s Why

Falcon’s Beyond Global, Inc. (NASDAQ:FBYD)’s share price gapped up prior to trading on Thursday. The stock had previously closed at $6.33, but opened at $6.68. Falcon’s Beyond Global shares last traded at $6.5060, with a volume of 5,148 shares traded.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on FBYD shares. Wall Street Zen cut shares of Falcon’s Beyond Global from a “hold” rating to a “sell” rating in a research report on Saturday, August 29th. 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. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, Falcon’s Beyond Global presently has a consensus rating of “Sell”.

Falcon’s Beyond Global Price Performance

The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.25. The company has a market cap of $705.25 million, a PE ratio of -58.45 and a beta of -2.33. The firm has a 50 day moving average of $7.65 and a two-hundred day moving average of $10.18.

Falcon’s Beyond Global (NASDAQ:FBYD) last posted its quarterly earnings data on Thursday, November 12th. The company reported ($0.09) earnings per share for the quarter. The company had revenue of $7.29 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 Investors Weigh In On Falcon’s Beyond Global

A number of institutional investors have recently modified their holdings of the stock. State Street Corp increased its holdings in shares of Falcon’s Beyond Global by 23.2% during the third quarter. State Street Corp now owns 492,451 shares of the company’s stock valued at $4,161,000 after acquiring an additional 92,778 shares in the last quarter. HighTower Advisors LLC purchased a new position in shares of Falcon’s Beyond Global in the 3rd quarter worth about $179,000. Russell Investments Group Ltd. bought a new position in Falcon’s Beyond Global in the 3rd quarter worth about $58,000. Black Diamond Financial LLC bought a new position in Falcon’s Beyond Global in the 3rd quarter worth about $85,000. Finally, Bank of New York Mellon Corp bought a new position in Falcon’s Beyond Global in the 2nd quarter worth about $1,067,000. 38.88% of the stock is owned by hedge funds and other institutional investors.

About Falcon’s Beyond Global

Falcon’s Beyond Global is an experiential entertainment company that develops and operates attractions, destinations and related media. Its activities span creative design and consulting, attraction development and technology, and the creation and licensing of entertainment brands and intellectual property. The company’s businesses include Falcon’s Creative Group, which designs themed experiences and attractions, and Falcon’s Attractions, which develops related products and technologies. Through its destinations business, Falcon’s Beyond has brought its Katmandu brand to theme parks, including locations in Punta Cana, Dominican Republic, and Mallorca, Spain.