Beyond, Inc. (NYSE:BYON) Short Interest Up 16.2% in October

Beyond, Inc. (NYSE:BYON) was the recipient of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 7,370,000 shares, an increase of 16.2% from the October 15th total of 6,340,000 shares. Based on an average daily trading volume, of 2,230,000 shares, the short-interest ratio is presently 3.3 days. Approximately 16.3% of the company’s stock are short sold.

Beyond Price Performance

Shares of Beyond stock opened at $6.09 on Monday. The firm has a market cap of $280.44 million, a PE ratio of -0.82 and a beta of 3.70. Beyond has a twelve month low of $5.95 and a twelve month high of $37.10. The company has a quick ratio of 0.91, a current ratio of 0.97 and a debt-to-equity ratio of 0.17. The business has a 50-day moving average price of $9.00 and a 200 day moving average price of $11.93.

Analyst Upgrades and Downgrades

BYON has been the subject of several research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Beyond in a research report on Wednesday, October 23rd. Wedbush lowered their price target on shares of Beyond from $25.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Jefferies Financial Group reduced their price objective on Beyond from $14.00 to $11.00 and set a “hold” rating for the company in a research note on Monday, September 23rd. Bank of America lowered Beyond from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $12.50 to $6.00 in a report on Friday, October 25th. Finally, Maxim Group reduced their price target on Beyond from $33.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Beyond has an average rating of “Hold” and an average price target of $16.50.

Insider Transactions at Beyond

In other Beyond news, Chairman Marcus Lemonis purchased 156,985 shares of the firm’s stock in a transaction on Sunday, October 27th. The stock was bought at an average cost of $6.37 per share, for a total transaction of $999,994.45. Following the completion of the purchase, the chairman now owns 365,530 shares in the company, valued at $2,328,426.10. This represents a 75.28 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.20% of the company’s stock.

Institutional Trading of Beyond

Several institutional investors have recently bought and sold shares of BYON. SRN Advisors LLC increased its stake in shares of Beyond by 2.4% during the first quarter. SRN Advisors LLC now owns 44,631 shares of the company’s stock worth $1,603,000 after purchasing an additional 1,061 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Beyond by 8.2% during the second quarter. The Manufacturers Life Insurance Company now owns 17,818 shares of the company’s stock valued at $233,000 after acquiring an additional 1,348 shares during the last quarter. Fortis Group Advisors LLC lifted its position in shares of Beyond by 14.4% in the third quarter. Fortis Group Advisors LLC now owns 13,689 shares of the company’s stock valued at $138,000 after acquiring an additional 1,724 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Beyond in the first quarter valued at approximately $66,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Beyond in the first quarter worth approximately $71,000. 76.30% of the stock is owned by institutional investors and hedge funds.

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.