Short Interest in Beyond, Inc. (NYSE:BYON) Rises By 16.2%

Beyond, Inc. (NYSE:BYON) was the recipient of a significant increase in short interest in October. As of October 31st, there was short interest totalling 7,370,000 shares, an increase of 16.2% from the October 15th total of 6,340,000 shares. Currently, 16.3% of the shares of the company are short sold. Based on an average daily volume of 2,230,000 shares, the days-to-cover ratio is currently 3.3 days.

Beyond Trading Down 1.5 %

BYON stock opened at $6.09 on Monday. Beyond has a 12 month low of $5.95 and a 12 month high of $37.10. The firm’s 50-day moving average is $9.00 and its 200 day moving average is $11.93. The company has a market capitalization of $280.44 million, a PE ratio of -0.82 and a beta of 3.70. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.97 and a quick ratio of 0.91.

Insider Activity at Beyond

In other news, Chairman Marcus Lemonis purchased 156,985 shares of the stock in a transaction dated Sunday, October 27th. The shares were purchased at an average cost of $6.37 per share, with a total value of $999,994.45. Following the acquisition, the chairman now directly owns 365,530 shares of the company’s stock, valued at $2,328,426.10. This represents a 75.28 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.20% of the stock is currently owned by insiders.

Institutional Trading of Beyond

Institutional investors and hedge funds have recently modified their holdings of the stock. Y Intercept Hong Kong Ltd purchased a new position in Beyond during the 3rd quarter worth $107,000. State Street Corp increased its stake in shares of Beyond by 0.9% during the third quarter. State Street Corp now owns 1,016,563 shares of the company’s stock valued at $10,247,000 after buying an additional 8,580 shares during the period. Safe Harbor Fiduciary LLC bought a new stake in shares of Beyond in the third quarter valued at about $80,000. HighTower Advisors LLC lifted its stake in Beyond by 34.4% in the third quarter. HighTower Advisors LLC now owns 79,018 shares of the company’s stock worth $795,000 after acquiring an additional 20,242 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Beyond by 14.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 98,621 shares of the company’s stock worth $994,000 after acquiring an additional 12,794 shares in the last quarter. Institutional investors own 76.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on BYON. Wedbush lowered their price target on Beyond from $25.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Maxim Group dropped their target price on shares of Beyond from $33.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Bank of America downgraded shares of Beyond from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $12.50 to $6.00 in a report on Friday, October 25th. Piper Sandler cut their price objective on Beyond from $14.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $13.00 target price on shares of Beyond in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $16.50.

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.