Wedbush Reiterates “Outperform” Rating for Beyond (NYSE:BYON)

Beyond (NYSE:BYON)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Wedbush in a research report issued on Wednesday,RTT News reports. They currently have a $15.00 target price on the stock. Wedbush’s price objective would indicate a potential upside of 193.26% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Argus lowered Beyond from a “hold” rating to a “sell” rating in a research report on Wednesday, December 18th. Barclays dropped their price target on Beyond from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, January 9th. Needham & Company LLC lowered Beyond from a “buy” rating to a “hold” rating and set a $9.00 price target for the company. in a research report on Wednesday, March 5th. Jefferies Financial Group dropped their price target on Beyond from $7.25 to $6.50 and set a “hold” rating for the company in a research report on Monday, March 10th. Finally, Maxim Group decreased their price objective on Beyond from $26.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $9.64.

Beyond Price Performance

NYSE:BYON traded up $0.04 during trading hours on Wednesday, hitting $5.12. 711,618 shares of the stock were exchanged, compared to its average volume of 2,436,568. Beyond has a 52-week low of $4.45 and a 52-week high of $37.10. The firm’s fifty day moving average price is $7.00 and its 200 day moving average price is $7.44. The company has a current ratio of 0.97, a quick ratio of 0.91 and a debt-to-equity ratio of 0.17. The company has a market cap of $271.84 million, a P/E ratio of -0.69 and a beta of 3.91.

Beyond (NYSE:BYON) last posted its quarterly earnings data on Monday, February 24th. The company reported ($0.91) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.17). Beyond had a negative return on equity of 69.32% and a negative net margin of 22.82%. The firm had revenue of $303.15 million for the quarter, compared to analysts’ expectations of $337.96 million. As a group, equities research analysts anticipate that Beyond will post -3.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other Beyond news, Chairman Marcus Lemonis bought 19,193 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average price of $5.03 per share, with a total value of $96,540.79. Following the completion of the acquisition, the chairman now directly owns 456,151 shares of the company’s stock, valued at $2,294,439.53. This represents a 4.39 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Beyond

Several hedge funds have recently made changes to their positions in BYON. Kohmann Bosshard Financial Services LLC purchased a new stake in Beyond in the 4th quarter valued at approximately $30,000. R Squared Ltd purchased a new stake in shares of Beyond during the 4th quarter worth approximately $32,000. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Beyond by 68.4% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 6,592 shares of the company’s stock worth $32,000 after acquiring an additional 2,678 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Beyond during the 4th quarter worth approximately $32,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Beyond during the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 76.30% of the company’s stock.

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.