Beyond (NYSE:BYON) Price Target Lowered to $7.00 at Barclays

Beyond (NYSE:BYON) had its target price lowered by analysts at Barclays from $8.00 to $7.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price target would indicate a potential upside of 13.45% from the stock’s current price.

A number of other research analysts also recently issued reports on the company. Argus downgraded Beyond from a “hold” rating to a “sell” rating in a report on Wednesday, December 18th. Piper Sandler cut their target price on Beyond from $14.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Needham & Company LLC reissued a “buy” rating and set a $13.00 price target on shares of Beyond in a research report on Wednesday, October 23rd. Maxim Group decreased their price objective on Beyond from $33.00 to $26.00 and set a “buy” rating for the company in a report on Friday, October 25th. Finally, Bank of America downgraded shares of Beyond from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $12.50 to $6.00 in a report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Beyond currently has an average rating of “Hold” and a consensus price target of $16.38.

Beyond Trading Up 4.0 %

Shares of NYSE BYON opened at $6.17 on Thursday. The business’s 50 day moving average price is $5.77 and its 200-day moving average price is $9.06. Beyond has a fifty-two week low of $4.45 and a fifty-two week high of $37.10. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.91 and a current ratio of 0.97. The company has a market cap of $284.10 million, a price-to-earnings ratio of -0.83 and a beta of 3.74.

Insider Activity

In related news, Chairman Marcus Lemonis purchased 156,985 shares of the business’s stock in a transaction on Sunday, October 27th. The shares were bought at an average price of $6.37 per share, with a total value of $999,994.45. Following the completion of the purchase, the chairman now directly owns 365,530 shares in the company, valued at approximately $2,328,426.10. This trade represents a 75.28 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BYON. Dimensional Fund Advisors LP bought a new position in shares of Beyond in the 2nd quarter worth about $9,538,000. Royce & Associates LP grew its holdings in Beyond by 57.8% in the 3rd quarter. Royce & Associates LP now owns 845,977 shares of the company’s stock worth $8,527,000 after buying an additional 309,810 shares in the last quarter. ProShare Advisors LLC acquired a new position in shares of Beyond during the second quarter valued at $3,800,000. Bank of New York Mellon Corp bought a new stake in shares of Beyond during the 2nd quarter worth about $2,188,000. Finally, Second Line Capital LLC acquired a new stake in Beyond in the second quarter worth approximately $1,581,000. 76.30% of the stock is owned by institutional investors and hedge funds.

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.