Beyond (NYSE:BYON) Shares Gap Up to $10.70

Beyond, Inc. (NYSE:BYON) gapped up before the market opened on Friday . The stock had previously closed at $10.70, but opened at $11.34. Beyond shares last traded at $11.42, with a volume of 253,726 shares.

Analyst Ratings Changes

A number of research firms have issued reports on BYON. Bank of America cut their price target on Beyond from $15.50 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Barclays reduced their price target 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. Wedbush decreased their target price on Beyond from $37.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Piper Sandler reduced their price objective on Beyond from $17.00 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Beyond in a research report on Monday, May 20th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Beyond has an average rating of “Hold” and a consensus target price of $27.29.

Beyond Price Performance

The stock has a market cap of $520.64 million, a P/E ratio of -1.40 and a beta of 3.64. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.08 and a current ratio of 1.14. The business has a 50 day simple moving average of $11.41 and a 200-day simple moving average of $18.79.

Beyond (NYSE:BYON) last issued its quarterly earnings results on Monday, July 29th. The company reported ($0.76) earnings per share (EPS) for the quarter, topping 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 company had revenue of $398.10 million during the quarter, compared to analyst estimates of $381.74 million. During the same quarter last year, the business posted ($0.02) EPS. Beyond’s quarterly revenue was down 5.7% compared to the same quarter last year. On average, sell-side analysts forecast that Beyond, Inc. will post -3.54 EPS for the current year.

Insider Buying and Selling

In other Beyond news, Director Barclay F. Corbus purchased 5,000 shares of the stock in a transaction dated Thursday, August 1st. The shares were bought at an average price of $10.66 per share, with a total value of $53,300.00. Following the completion of the transaction, the director now directly owns 66,668 shares in the company, valued at approximately $710,680.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Barclay F. Corbus bought 5,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were purchased at an average price of $10.66 per share, for a total transaction of $53,300.00. Following the completion of the transaction, the director now directly owns 66,668 shares in the company, valued at approximately $710,680.88. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director William Benjamin Nettles, Jr. sold 10,412 shares of Beyond stock in a transaction 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 transaction, the director now 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 currently owned by insiders.

Hedge Funds Weigh In On Beyond

A number of institutional investors have recently added to or reduced their stakes in the business. Boston Partners purchased a new position in shares of Beyond in the 1st quarter worth about $2,152,000. Price T Rowe Associates Inc. MD purchased a new stake in Beyond during the first quarter valued at about $795,000. Hennion & Walsh Asset Management Inc. purchased a new stake in Beyond during the 2nd quarter valued at about $399,000. California State Teachers Retirement System purchased a new position in Beyond in the 1st quarter worth approximately $1,479,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Beyond during the first quarter valued at approximately $71,000. 76.30% of the stock is currently owned by institutional investors.

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.