Short Interest in Beyond, Inc. (NYSE:BYON) Rises By 51.8%

Beyond, Inc. (NYSE:BYON) was the recipient of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 5,390,000 shares, a growth of 51.8% from the May 31st total of 3,550,000 shares. Based on an average daily volume of 2,060,000 shares, the days-to-cover ratio is currently 2.6 days. Approximately 12.0% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on BYON shares. Barclays cut their price objective on shares of Beyond from $30.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 8th. Piper Sandler reduced their price objective on Beyond from $26.00 to $17.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. Needham & Company LLC reissued a “hold” rating on shares of Beyond in a report on Monday, May 20th. Wedbush reaffirmed an “outperform” rating and set a $37.00 target price on shares of Beyond in a research note on Tuesday, May 14th. Finally, Maxim Group decreased 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. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $30.36.

Beyond Stock Performance

BYON opened at $13.08 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.24 and a quick ratio of 1.19. The company has a market capitalization of $598.41 million, a price-to-earnings ratio of -1.60 and a beta of 3.80. The business has a 50 day moving average price of $16.75 and a two-hundred day moving average price of $24.08. Beyond has a 1-year low of $12.18 and a 1-year high of $39.27.

Beyond (NYSE:BYON) last posted its quarterly earnings results on Monday, May 6th. The company reported ($1.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.30). Beyond had a negative return on equity of 32.05% and a negative net margin of 23.67%. The business had revenue of $382.28 million during the quarter, compared to analyst estimates of $389.36 million. During the same quarter last year, the firm posted ($0.10) EPS. The company’s quarterly revenue was up .3% compared to the same quarter last year. Research analysts predict that Beyond will post -3.1 EPS for the current fiscal year.

Insider Buying and Selling

In other Beyond news, Chairman Marcus Lemonis bought 17,075 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were bought at an average cost of $14.61 per share, with a total value of $249,465.75. Following the completion of the acquisition, the chairman now owns 186,973 shares of the company’s stock, valued at $2,731,675.53. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Joseph J. Tabacco, Jr. acquired 12,400 shares of Beyond stock in a transaction that occurred on Wednesday, May 8th. The stock was acquired at an average price of $16.01 per share, for a total transaction of $198,524.00. Following the transaction, the director now directly owns 97,458 shares of the company’s stock, valued at approximately $1,560,302.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Marcus Lemonis bought 17,075 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was bought at an average cost of $14.61 per share, for a total transaction of $249,465.75. Following the completion of the transaction, the chairman now directly owns 186,973 shares of the company’s stock, valued at $2,731,675.53. The disclosure for this purchase can be found here. Insiders have bought 40,095 shares of company stock worth $596,237 over the last ninety days. 1.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. SRN Advisors LLC increased its holdings in shares of Beyond by 2.4% in the 1st quarter. SRN Advisors LLC now owns 44,631 shares of the company’s stock valued at $1,603,000 after purchasing an additional 1,061 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in Beyond in the 1st quarter valued at approximately $71,000. Boston Partners purchased a new stake in Beyond in the 1st quarter worth approximately $2,152,000. Cetera Advisors LLC acquired a new stake in shares of Beyond during the 1st quarter valued at $233,000. Finally, Tidal Investments LLC purchased a new position in shares of Beyond during the 1st quarter valued at $33,599,000. Hedge funds and other institutional investors own 76.30% of the company’s stock.

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.