Beyond, Inc. (NYSE:BYON) Stock Position Raised by Dark Forest Capital Management LP

Dark Forest Capital Management LP lifted its holdings in shares of Beyond, Inc. (NYSE:BYON) by 327.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,282 shares of the company’s stock after buying an additional 22,427 shares during the period. Dark Forest Capital Management LP’s holdings in Beyond were worth $383,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. AQR Capital Management LLC bought a new stake in shares of Beyond during the 2nd quarter valued at about $389,000. ProShare Advisors LLC bought a new position in Beyond in the 2nd quarter worth about $3,800,000. Cedar Wealth Management LLC bought a new position in Beyond in the 2nd quarter worth about $405,000. Hollencrest Capital Management bought a new position in Beyond in the 2nd quarter worth about $46,000. Finally, XTX Topco Ltd grew its position in Beyond by 379.2% in the 2nd quarter. XTX Topco Ltd now owns 53,189 shares of the company’s stock worth $696,000 after purchasing an additional 42,089 shares during the last quarter. Institutional investors own 76.30% of the company’s stock.

Beyond Stock Up 2.2 %

BYON stock opened at $10.20 on Friday. Beyond, Inc. has a 12 month low of $9.05 and a 12 month high of $37.10. The firm has a market cap of $466.65 million, a PE ratio of -1.25 and a beta of 3.64. The firm has a 50 day simple moving average of $10.76 and a 200 day simple moving average of $17.14. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.14 and a quick ratio of 1.08.

Beyond (NYSE:BYON) last released its earnings results on Monday, July 29th. The company reported ($0.76) EPS for the quarter, beating 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 analyst estimates of $381.74 million. During the same period in the prior year, the business earned ($0.02) earnings per share. The business’s quarterly revenue was down 5.7% on a year-over-year basis. Equities research analysts forecast that Beyond, Inc. will post -3.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. 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. Wedbush decreased their target price on shares of Beyond from $37.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Jefferies Financial Group decreased their price objective on shares of Beyond from $14.00 to $11.00 and set a “hold” rating for the company in a report on Monday, September 23rd. Barclays decreased their price objective on shares of Beyond from $22.00 to $16.00 and set an “equal weight” rating for the company in a report on Friday, July 26th. Finally, Piper Sandler decreased their price objective on shares of Beyond from $17.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $25.25.

Insider Activity at Beyond

In related news, Director William Benjamin Nettles, Jr. sold 10,412 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $9.35, for a total value of $97,352.20. Following the completion of the sale, the director now owns 11,368 shares in the company, valued at approximately $106,290.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Barclay F. Corbus purchased 5,000 shares of Beyond stock in a transaction that occurred on Thursday, August 1st. The stock was acquired at an average price of $10.66 per share, for a total transaction of $53,300.00. Following the transaction, the director now owns 66,668 shares in the company, valued at $710,680.88. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William Benjamin Nettles, Jr. sold 10,412 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $9.35, for a total transaction of $97,352.20. Following the completion of the sale, the director now owns 11,368 shares of the company’s stock, valued at approximately $106,290.80. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Beyond 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.