Beyond (NYSE:BYON) Downgraded to Sell Rating by Argus

Argus cut shares of Beyond (NYSE:BYON) from a hold rating to a sell rating in a research report report published on Wednesday morning, Marketbeat Ratings reports.

Other analysts have also recently issued reports about the company. Bank of America cut Beyond from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $12.50 to $6.00 in a research report on Friday, October 25th. Barclays dropped their price target on Beyond from $14.00 to $8.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th. Jefferies Financial Group reduced their price objective on Beyond from $14.00 to $11.00 and set a “hold” rating on the stock in a research report on Monday, September 23rd. Piper Sandler dropped their target price on Beyond from $14.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $13.00 price target on shares of Beyond in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Beyond currently has a consensus rating of “Hold” and an average target price of $16.50.

Beyond Price Performance

Beyond stock traded down $0.13 during midday trading on Wednesday, reaching $4.99. The company had a trading volume of 299,782 shares, compared to its average volume of 2,002,957. Beyond has a 12-month low of $4.90 and a 12-month high of $37.10. The firm’s fifty day simple moving average is $6.92 and its 200-day simple moving average is $10.09. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.97 and a quick ratio of 0.91. The company has a market capitalization of $229.77 million, a P/E ratio of -0.68 and a beta of 3.70.

Insider Transactions at Beyond

In related news, Chairman Marcus Lemonis purchased 156,985 shares of the business’s stock in a transaction on Sunday, October 27th. The shares were bought at an average price of $6.37 per share, for a total transaction of $999,994.45. Following the acquisition, the chairman now directly owns 365,530 shares in the company, valued at $2,328,426.10. This trade represents a 75.28 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.20% of the company’s stock.

Institutional Trading of Beyond

Several hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its holdings in shares of Beyond by 12.8% in the 3rd quarter. Franklin Resources Inc. now owns 21,299 shares of the company’s stock valued at $217,000 after purchasing an additional 2,411 shares during the last quarter. Second Line Capital LLC increased its holdings in shares of Beyond by 25.0% in the third quarter. Second Line Capital LLC now owns 151,053 shares of the company’s stock valued at $1,523,000 after purchasing an additional 30,196 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in Beyond in the 3rd quarter valued at $107,000. State Street Corp increased its stake in shares of Beyond by 0.9% during the third quarter. State Street Corp now owns 1,016,563 shares of the company’s stock worth $10,247,000 after acquiring an additional 8,580 shares during the period. Finally, Safe Harbor Fiduciary LLC acquired a new position in Beyond during the 3rd quarter worth approximately $80,000. Institutional investors and hedge funds 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.