Beyond, Inc. (NYSE:BYON) Sees Significant Growth in Short Interest

Beyond, Inc. (NYSE:BYON) saw a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 6,360,000 shares, an increase of 6.7% from the August 31st total of 5,960,000 shares. Based on an average daily trading volume, of 2,190,000 shares, the days-to-cover ratio is currently 2.9 days. Currently, 14.1% of the company’s shares are sold short.

Beyond Stock Performance

Shares of BYON stock traded down $0.12 on Monday, hitting $10.08. 1,064,995 shares of the stock traded hands, compared to its average volume of 1,838,993. The company has a market capitalization of $461.16 million, a PE ratio of -1.24 and a beta of 3.64. The company’s fifty day moving average is $10.69 and its 200 day moving average is $16.84. 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 has a 1-year low of $9.05 and a 1-year high of $37.10.

Beyond (NYSE:BYON) last issued its earnings results on Monday, July 29th. The company reported ($0.76) earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $398.10 million for the quarter, compared to analysts’ expectations of $381.74 million. During the same period in the prior year, the company earned ($0.02) earnings per share. The firm’s revenue was down 5.7% compared to the same quarter last year. On average, equities research analysts predict that Beyond will post -3.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director William Benjamin Nettles, Jr. sold 10,412 shares of the stock in a transaction on Wednesday, August 14th. The stock was 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 directly 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 the SEC website. In other news, Director Barclay F. Corbus bought 5,000 shares of Beyond stock in a transaction dated Thursday, August 1st. The shares were acquired at an average cost of $10.66 per share, with a total value of $53,300.00. Following the completion of the transaction, the director now owns 66,668 shares in the company, valued at approximately $710,680.88. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William Benjamin Nettles, Jr. sold 10,412 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 11,368 shares of the company’s stock, valued at $106,290.80. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Beyond

A number of large investors have recently bought and sold shares of the business. Ashton Thomas Private Wealth LLC acquired a new position in shares of Beyond during the second quarter valued at $44,000. CWM LLC acquired a new position in Beyond during the 2nd quarter valued at about $46,000. Hollencrest Capital Management acquired a new position in Beyond during the 2nd quarter valued at about $46,000. Sunbelt Securities Inc. bought a new position in Beyond in the 2nd quarter worth about $47,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Beyond during the first quarter valued at approximately $66,000. Institutional investors own 76.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Piper Sandler lowered their target price on Beyond from $17.00 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Wedbush dropped their price objective on Beyond from $37.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Jefferies Financial Group cut their target price on Beyond from $14.00 to $11.00 and set a “hold” rating on the stock in a research report on Monday, September 23rd. Bank of America decreased their price target 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. Finally, Barclays cut their price target on shares of Beyond from $22.00 to $16.00 and set an “equal weight” rating on the stock in a report on Friday, July 26th. Five research 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, the company presently has a consensus rating of “Hold” and an average target price of $25.25.

About Beyond

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.