Short Interest in Beyond, Inc. (NYSE:BYON) Drops By 10.5%

Beyond, Inc. (NYSE:BYON) saw a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 5,690,000 shares, a drop of 10.5% from the September 15th total of 6,360,000 shares. Based on an average daily volume of 2,160,000 shares, the days-to-cover ratio is presently 2.6 days. Currently, 12.6% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

BYON has been the topic of several recent research reports. Barclays dropped their price target on Beyond from $22.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Friday, July 26th. Bank of America cut their price target on Beyond from $15.50 to $15.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Piper Sandler lowered their price objective 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. Wedbush dropped their price objective on shares of Beyond from $37.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Finally, Jefferies Financial Group reduced their target price on shares of Beyond from $14.00 to $11.00 and set a “hold” rating for the company in a research note on Monday, September 23rd. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Beyond currently has an average rating of “Hold” and a consensus target price of $25.25.

Beyond Price Performance

BYON stock traded down $0.18 on Thursday, reaching $10.11. 1,430,708 shares of the company’s stock were exchanged, compared to its average volume of 1,819,516. The stock has a fifty day moving average of $10.25 and a 200-day moving average of $14.85. The firm has a market cap of $462.53 million, a PE ratio of -1.24 and a beta of 3.65. The company has a quick ratio of 1.08, a current ratio of 1.14 and a debt-to-equity ratio of 0.14. Beyond has a twelve month low of $8.91 and a twelve month high of $37.10.

Beyond (NYSE:BYON) last announced its quarterly earnings results on Monday, July 29th. The company reported ($0.76) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.13. The business had revenue of $398.10 million during the quarter, compared to the consensus estimate of $381.74 million. Beyond had a negative net margin of 22.03% and a negative return on equity of 49.00%. The business’s revenue was down 5.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.02) EPS. As a group, equities analysts predict that Beyond will post -3.55 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director William Benjamin Nettles, Jr. sold 10,412 shares of the company’s 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 completion of the sale, the director now directly owns 11,368 shares of the company’s stock, valued at $106,290.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Beyond news, Director Barclay F. Corbus acquired 5,000 shares of the stock in a transaction on Thursday, August 1st. The shares were bought at an average cost of $10.66 per share, with a total value of $53,300.00. Following the transaction, the director now owns 66,668 shares of the company’s stock, valued at approximately $710,680.88. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William Benjamin Nettles, Jr. sold 10,412 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $9.35, for a total transaction of $97,352.20. Following the completion of the sale, the director now directly owns 11,368 shares of the company’s stock, valued at $106,290.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Beyond

A number of hedge funds and other institutional investors have recently modified their holdings of BYON. Capstone Wealth Management Group LLC grew its holdings in shares of Beyond by 28.5% in the 3rd quarter. Capstone Wealth Management Group LLC now owns 94,323 shares of the company’s stock worth $951,000 after acquiring an additional 20,923 shares during the period. Tobam boosted its position in Beyond by 78.8% during the third quarter. Tobam now owns 10,648 shares of the company’s stock worth $107,000 after purchasing an additional 4,693 shares in the last quarter. O Keefe Stevens Advisory Inc. grew its holdings in Beyond by 67.9% in the third quarter. O Keefe Stevens Advisory Inc. now owns 19,504 shares of the company’s stock valued at $197,000 after purchasing an additional 7,889 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Beyond in the second quarter valued at $650,000. Finally, SRN Advisors LLC raised its stake in shares of Beyond by 82.4% during the 2nd quarter. SRN Advisors LLC now owns 81,405 shares of the company’s stock worth $1,065,000 after buying an additional 36,774 shares during the last quarter. 76.30% of the stock is currently owned by institutional investors and hedge funds.

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.