Beyond, Inc. (NYSE:BYON) Short Interest Up 6.7% in September

Beyond, Inc. (NYSE:BYON) was the target of a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 6,360,000 shares, a growth of 6.7% from the August 31st total of 5,960,000 shares. Based on an average trading volume of 2,190,000 shares, the days-to-cover ratio is presently 2.9 days. Currently, 14.1% of the company’s shares are sold short.

Insider Activity

In other news, Director Barclay F. Corbus acquired 5,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was purchased at an average cost 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 $710,680.88. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Beyond news, Director William Benjamin Nettles, Jr. sold 10,412 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $9.35, for a total value of $97,352.20. Following the transaction, the director now owns 11,368 shares of the company’s stock, valued at $106,290.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Barclay F. Corbus bought 5,000 shares of the firm’s 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 disclosure for this purchase can be found here. 1.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Beyond

A number of hedge funds and other institutional investors have recently bought and sold shares of BYON. American International Group Inc. bought a new stake in shares of Beyond during the first quarter worth approximately $799,000. CANADA LIFE ASSURANCE Co acquired a new position in shares of Beyond during the 1st quarter worth approximately $157,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Beyond during the first quarter worth approximately $8,956,000. Shell Asset Management Co. bought a new position in shares of Beyond during the first quarter worth approximately $2,271,000. Finally, Lazard Asset Management LLC bought a new stake in shares of Beyond in the first quarter valued at approximately $70,000. Institutional investors own 76.30% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Barclays reduced 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 note on Friday, July 26th. Piper Sandler reduced their price target on shares of Beyond from $17.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Jefferies Financial Group lowered their price objective on shares of Beyond from $14.00 to $11.00 and set a “hold” rating for the company in a research report on Monday, September 23rd. Bank of America reduced their target price on Beyond from $15.50 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Finally, Wedbush lowered their price target on Beyond from $37.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $25.25.

Beyond Stock Performance

BYON opened at $9.19 on Wednesday. The company has a market capitalization of $420.44 million, a price-to-earnings ratio of -1.13 and a beta of 3.64. The business’s 50-day moving average price is $10.61 and its two-hundred day moving average price is $16.67. Beyond has a 1 year low of $9.05 and a 1 year high of $37.10. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.14 and a quick ratio of 1.08.

Beyond (NYSE:BYON) last released its earnings results on Monday, July 29th. The company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($0.89) by $0.13. The firm had revenue of $398.10 million for the quarter, compared to analysts’ expectations of $381.74 million. Beyond had a negative return on equity of 49.00% and a negative net margin of 22.03%. The business’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.02) EPS. Equities analysts expect that Beyond will post -3.54 EPS for the current fiscal year.

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.