Bank of America Downgrades Beyond (NYSE:BYON) to Underperform

Beyond (NYSE:BYON) was downgraded by research analysts at Bank of America from a “neutral” rating to an “underperform” rating in a report issued on Friday, Briefing.com reports. They presently have a $6.00 price objective on the stock, down from their previous price objective of $12.50. Bank of America‘s price target would indicate a potential downside of 10.31% from the stock’s current price.

Several other analysts have also issued reports on BYON. Barclays cut their target price on Beyond from $22.00 to $16.00 and set an “equal weight” rating for the company in a research note on Friday, July 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Beyond in a research note on Wednesday. Jefferies Financial Group decreased their target price on shares of Beyond from $14.00 to $11.00 and set a “hold” rating on the stock in a research report on Monday, September 23rd. Wedbush cut their price target on shares of Beyond from $37.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Finally, Piper Sandler decreased their price objective on Beyond from $17.00 to $14.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $19.50.

Beyond Stock Performance

Beyond stock opened at $6.69 on Friday. Beyond has a fifty-two week low of $6.30 and a fifty-two week high of $37.10. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.08 and a current ratio of 1.14. The stock has a market cap of $306.07 million, a P/E ratio of -0.90 and a beta of 3.65. The firm’s fifty day moving average price is $10.30 and its 200-day moving average price is $14.09.

Beyond (NYSE:BYON) last released its quarterly earnings results on Thursday, October 24th. The company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.12). Beyond had a negative net margin of 22.03% and a negative return on equity of 49.00%. The firm had revenue of $311.43 million for the quarter, compared to analysts’ expectations of $351.50 million. On average, equities research analysts expect that Beyond will post -3.55 earnings per share for the current fiscal year.

Insider Transactions at Beyond

In related news, Director William Benjamin Nettles, Jr. sold 10,412 shares of the firm’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 sale, the director now directly owns 11,368 shares of the company’s stock, valued at $106,290.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director William Benjamin Nettles, Jr. sold 10,412 shares of the firm’s stock in a transaction on 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 owns 11,368 shares of the company’s stock, valued at $106,290.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Barclay F. Corbus purchased 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was bought at an average price of $10.66 per share, for a total transaction of $53,300.00. Following the acquisition, the director now owns 66,668 shares of the company’s stock, valued at $710,680.88. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Beyond

Hedge funds and other institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio purchased a new stake in Beyond in the first quarter worth about $66,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Beyond in the 1st quarter valued at approximately $71,000. Lazard Asset Management LLC bought a new stake in shares of Beyond during the first quarter valued at approximately $70,000. Ashton Thomas Private Wealth LLC purchased a new stake in Beyond in the second quarter worth $44,000. Finally, Hollencrest Capital Management bought a new position in Beyond in the second quarter worth $46,000. Hedge funds and other 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.