Beyond (NYSE:BYON) PT Lowered to $15.00

Beyond (NYSE:BYON) had its price target cut by Bank of America from $15.50 to $15.00 in a report published on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts also recently commented on BYON. Needham & Company LLC reaffirmed a hold rating on shares of Beyond in a research report on Monday, May 20th. Maxim Group lowered their price objective on shares of Beyond from $50.00 to $36.00 and set a buy rating on the stock in a research report on Wednesday, May 8th. Barclays lowered their price objective on shares of Beyond from $22.00 to $16.00 and set an equal weight rating on the stock in a research report on Friday, July 26th. Piper Sandler lowered their price objective on shares of Beyond from $26.00 to $17.00 and set a neutral rating on the stock in a research report on Wednesday, May 8th. Finally, Wedbush reaffirmed an outperform rating and set a $37.00 price objective on shares of Beyond in a research report on Wednesday, July 24th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Beyond currently has a consensus rating of Hold and an average target price of $27.29.

Beyond Stock Down 2.6 %

NYSE BYON opened at $10.38 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.14 and a quick ratio of 1.19. The company’s 50 day simple moving average is $13.62 and its 200 day simple moving average is $21.82. Beyond has a 12 month low of $9.91 and a 12 month high of $38.73. The company has a market capitalization of $474.89 million, a P/E ratio of -1.27 and a beta of 3.70.

Beyond (NYSE:BYON) last released its earnings results on Monday, July 29th. The company reported ($0.76) EPS 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 business had revenue of $398.10 million for the quarter, compared to the consensus estimate of $381.74 million. During the same period in the previous year, the firm earned ($0.02) EPS. The business’s revenue for the quarter was down 5.7% on a year-over-year basis. Equities research analysts expect that Beyond will post -3.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Barclay F. Corbus acquired 5,000 shares of Beyond stock in a transaction dated Thursday, August 1st. The stock was acquired at an average cost of $10.66 per share, for a total transaction of $53,300.00. Following the completion of the purchase, the director now owns 66,668 shares of the company’s stock, valued at $710,680.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Chairman Marcus Lemonis bought 3,700 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was purchased at an average cost of $13.64 per share, for a total transaction of $50,468.00. Following the purchase, the chairman now directly owns 197,593 shares in the company, valued at $2,695,168.52. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Barclay F. Corbus bought 5,000 shares of the business’s stock in a transaction that occurred on 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 purchase, the director now owns 66,668 shares in the company, valued at $710,680.88. The disclosure for this purchase can be found here. Insiders acquired 45,095 shares of company stock valued at $649,537 over the last ninety days. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Beyond

Large investors have recently bought and sold shares of the stock. American International Group Inc. acquired a new position in Beyond during the 1st quarter valued at $799,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Beyond in the 1st quarter valued at $8,956,000. SRN Advisors LLC raised its stake in shares of Beyond by 2.4% in the 1st quarter. SRN Advisors LLC now owns 44,631 shares of the company’s stock valued at $1,603,000 after buying an additional 1,061 shares in the last quarter. Bayesian Capital Management LP acquired a new position in shares of Beyond in the 1st quarter valued at $277,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Beyond in the 1st quarter valued at $66,000. 76.30% of the stock is currently 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.