Beyond (NYSE:BYON) Price Target Cut to $16.00 by Analysts at Maxim Group

Beyond (NYSE:BYON) had its price target decreased by Maxim Group from $26.00 to $16.00 in a research note published on Wednesday morning,Benzinga reports. Maxim Group currently has a buy rating on the stock.

BYON has been the subject of a number of other research reports. Argus cut Beyond from a “hold” rating to a “sell” rating in a research note on Wednesday, December 18th. Barclays reduced their price target on shares of Beyond from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, January 9th. Finally, Wedbush restated an “outperform” rating and set a $15.00 price objective on shares of Beyond in a report on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Beyond currently has a consensus rating of “Hold” and an average price target of $10.86.

Beyond Stock Down 9.2 %

Shares of NYSE BYON opened at $6.75 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.97 and a debt-to-equity ratio of 0.17. The firm has a market cap of $310.58 million, a PE ratio of -0.91 and a beta of 3.81. The company’s fifty day simple moving average is $6.87 and its 200 day simple moving average is $7.91. Beyond has a 12-month low of $4.45 and a 12-month high of $37.10.

Beyond (NYSE:BYON) last announced its quarterly earnings data on Monday, February 24th. The company reported ($0.91) earnings per share for the quarter, missing the consensus estimate of ($0.74) by ($0.17). The company had revenue of $303.15 million for the quarter, compared to analyst estimates of $337.96 million. Beyond had a negative net margin of 22.82% and a negative return on equity of 69.32%. As a group, sell-side analysts forecast that Beyond will post -3.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Beyond

A number of institutional investors and hedge funds have recently bought and sold shares of BYON. Bank of New York Mellon Corp grew its stake in shares of Beyond by 1.0% in the 4th quarter. Bank of New York Mellon Corp now owns 136,405 shares of the company’s stock worth $672,000 after acquiring an additional 1,292 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Beyond by 12.8% during the third quarter. Franklin Resources Inc. now owns 21,299 shares of the company’s stock worth $217,000 after purchasing an additional 2,411 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its position in Beyond by 68.4% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 6,592 shares of the company’s stock worth $32,000 after purchasing an additional 2,678 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Beyond by 25.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,127 shares of the company’s stock valued at $152,000 after buying an additional 3,059 shares during the last quarter. Finally, Dupree Financial Group LLC lifted its position in shares of Beyond by 4.6% during the 4th quarter. Dupree Financial Group LLC now owns 94,149 shares of the company’s stock worth $464,000 after buying an additional 4,107 shares in the last quarter. 76.30% of the stock is owned by hedge funds and other 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.