Falcon’s Beyond Global (NASDAQ:FBYD) Shares Gap Up – Still a Buy?

Falcon’s Beyond Global, Inc. (NASDAQ:FBYD)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $8.94, but opened at $9.21. Falcon’s Beyond Global shares last traded at $7.9160, with a volume of 13,867 shares.

Analysts Set New Price Targets

FBYD has been the topic of several recent analyst reports. Wall Street Zen cut Falcon’s Beyond Global from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings lowered Falcon’s Beyond Global from a “hold (c-)” rating to a “sell (d)” rating in a report on Friday, August 14th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

Falcon’s Beyond Global Stock Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a market cap of $919.76 million, a PE ratio of -75.30 and a beta of -2.57. The company’s 50-day moving average price is $12.47 and its two-hundred day moving average price is $11.60.

Falcon’s Beyond Global (NASDAQ:FBYD) last announced its earnings results on Thursday, August 13th. The company reported ($0.01) earnings per share (EPS) for the quarter. The company had revenue of $5.62 million during the quarter. Falcon’s Beyond Global had a negative return on equity of 50.04% and a negative net margin of 8.60%.

Hedge Funds Weigh In On Falcon’s Beyond Global

A number of hedge funds and other institutional investors have recently modified their holdings of FBYD. Global Retirement Partners LLC bought a new position in shares of Falcon’s Beyond Global during the 4th quarter valued at about $30,000. Strs Ohio bought a new stake in Falcon’s Beyond Global in the 4th quarter worth approximately $39,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in Falcon’s Beyond Global in the fourth quarter worth approximately $47,000. Bank of America Corp DE grew its position in Falcon’s Beyond Global by 8,008.5% during the third quarter. Bank of America Corp DE now owns 3,811 shares of the company’s stock valued at $42,000 after acquiring an additional 3,764 shares during the last quarter. Finally, California State Teachers Retirement System grew its position in Falcon’s Beyond Global by 633.5% during the second quarter. California State Teachers Retirement System now owns 6,917 shares of the company’s stock valued at $124,000 after acquiring an additional 5,974 shares during the last quarter. 38.88% of the stock is currently owned by hedge funds and other institutional investors.

Falcon’s Beyond Global Company Profile

Falcon’s Beyond Global, Inc is an experiential entertainment development enterprise. It connects the world by bringing stories to life through theme parks, resorts, animation, consumer products, gaming, and movies. The company propels intellectual property activations concurrently across physical and digital experiences through three core business units. Falcon’s Creative Group is a themed entertainment and master planning firm. Falcon’s Beyond Destinations develops, owns, and operates global entertainment destinations from resorts, theme parks, and attractions to retail, dining and location-based entertainment venues.