Beyond (NYSE:BYON) Receives Outperform Rating from Wedbush

Beyond (NYSE:BYON)‘s stock had its “outperform” rating reissued by research analysts at Wedbush in a report released on Tuesday,RTT News reports. They presently have a $15.00 price target on the stock. Wedbush’s price target would indicate a potential upside of 259.28% from the company’s previous close.

Several other equities analysts have also recently commented on BYON. Needham & Company LLC cut shares of Beyond from a “buy” rating to a “hold” rating and set a $9.00 price target on the stock. in a research report on Wednesday, March 5th. Barclays lowered their price target on Beyond from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Thursday, January 9th. Jefferies Financial Group lowered their target price on shares of Beyond from $7.25 to $6.50 and set a “hold” rating for the company in a research note on Monday, March 10th. Finally, Maxim Group lowered their price objective on shares of Beyond from $26.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Beyond has a consensus rating of “Hold” and an average target price of $9.64.

Beyond Stock Up 7.1 %

Beyond stock traded up $0.28 during midday trading on Tuesday, hitting $4.18. 787,138 shares of the company were exchanged, compared to its average volume of 2,632,576. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.97 and a quick ratio of 0.91. Beyond has a fifty-two week low of $3.54 and a fifty-two week high of $24.25. The company’s fifty day moving average price is $5.54 and its 200-day moving average price is $6.41. The company has a market cap of $230.55 million, a PE ratio of -0.56 and a beta of 4.09.

Beyond (NYSE:BYON) last announced its earnings results on Monday, February 24th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $303.15 million for the quarter, compared to analysts’ expectations of $337.96 million. On average, research analysts predict that Beyond will post -3.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Marcus Lemonis acquired 19,193 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were bought at an average price of $5.03 per share, with a total value of $96,540.79. Following the purchase, the chairman now owns 456,151 shares of the company’s stock, valued at approximately $2,294,439.53. This represents a 4.39 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is currently owned by insiders.

Institutional Trading of Beyond

A number of large investors have recently added to or reduced their stakes in BYON. Tidal Investments LLC boosted its position in shares of Beyond by 140.4% in the 4th quarter. Tidal Investments LLC now owns 2,406,746 shares of the company’s stock valued at $11,865,000 after purchasing an additional 1,405,770 shares during the period. State Street Corp raised its stake in Beyond by 0.9% during the 3rd quarter. State Street Corp now owns 1,016,563 shares of the company’s stock valued at $10,247,000 after purchasing an additional 8,580 shares during the period. Two Sigma Investments LP lifted its holdings in shares of Beyond by 75.1% in the fourth quarter. Two Sigma Investments LP now owns 916,178 shares of the company’s stock valued at $4,517,000 after purchasing an additional 392,977 shares in the last quarter. Two Sigma Advisers LP boosted its position in shares of Beyond by 362.8% in the fourth quarter. Two Sigma Advisers LP now owns 901,500 shares of the company’s stock worth $4,444,000 after buying an additional 706,700 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Beyond by 26.4% during the fourth quarter. Invesco Ltd. now owns 796,445 shares of the company’s stock valued at $3,926,000 after buying an additional 166,411 shares in the last quarter. 76.30% of the stock is currently owned by institutional investors.

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.