Beyond (NYSE:BYON) Trading Down 4%

Beyond, Inc. (NYSE:BYON) was down 4% during mid-day trading on Wednesday . The company traded as low as $12.31 and last traded at $12.37. Approximately 964,056 shares were traded during trading, a decline of 42% from the average daily volume of 1,668,337 shares. The stock had previously closed at $12.88.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BYON shares. Bank of America dropped their price objective on shares of Beyond from $19.00 to $15.50 and set a “neutral” rating for the company in a report on Tuesday, June 18th. Maxim Group dropped their price objective on shares of Beyond from $50.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Beyond in a report on Monday, May 20th. Piper Sandler lowered their price target on shares of Beyond from $26.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. Finally, Wedbush reissued an “outperform” rating and issued a $37.00 price target on shares of Beyond in a research note on Tuesday, May 14th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $30.36.

Beyond Trading Up 3.8 %

The stock has a market capitalization of $638.67 million, a P/E ratio of -1.78 and a beta of 3.70. The firm’s 50 day moving average price is $15.19 and its 200 day moving average price is $23.29. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.24 and a quick ratio of 1.19.

Beyond (NYSE:BYON) last announced its quarterly earnings results on Monday, May 6th. The company reported ($1.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.30). Beyond had a negative net margin of 23.67% and a negative return on equity of 32.05%. The company had revenue of $382.28 million for the quarter, compared to analysts’ expectations of $389.36 million. During the same quarter in the prior year, the firm earned ($0.10) EPS. Beyond’s quarterly revenue was up .3% compared to the same quarter last year. As a group, equities research analysts expect that Beyond, Inc. will post -3.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Beyond news, Chairman Marcus Lemonis acquired 3,700 shares of the business’s stock in a transaction on Friday, June 14th. The shares were acquired at an average price of $13.64 per share, for a total transaction of $50,468.00. Following the completion of the acquisition, the chairman now owns 197,593 shares in the company, valued at $2,695,168.52. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Joseph J. Tabacco, Jr. acquired 12,400 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were bought at an average price of $16.01 per share, for a total transaction of $198,524.00. Following the completion of the transaction, the director now directly owns 97,458 shares in the company, valued at $1,560,302.58. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Marcus Lemonis purchased 3,700 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was acquired at an average price of $13.64 per share, for a total transaction of $50,468.00. Following the completion of the transaction, the chairman now directly owns 197,593 shares of the company’s stock, valued at approximately $2,695,168.52. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 40,095 shares of company stock worth $596,237. 1.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Beyond

A number of hedge funds have recently made changes to their positions in BYON. American International Group Inc. purchased a new position in Beyond in the first quarter worth about $799,000. CANADA LIFE ASSURANCE Co purchased a new stake in shares of Beyond in the first quarter valued at $157,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Beyond in the first quarter valued at $8,956,000. Shell Asset Management Co. purchased a new stake in shares of Beyond in the first quarter valued at $2,271,000. Finally, Lazard Asset Management LLC purchased a new stake in shares of Beyond in the first quarter valued at $70,000. Institutional investors own 76.30% of the company’s stock.

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.