Beyond (NYSE:BYON) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Beyond (NYSE:BYON) in a research note released on Wednesday morning, MarketBeat Ratings reports. The brokerage currently has a $13.00 price objective on the stock.

Other analysts also recently issued research reports about the company. Barclays cut their price target on Beyond from $22.00 to $16.00 and set an “equal weight” rating on the stock in a report on Friday, July 26th. Bank of America lowered their price target on shares of Beyond from $15.50 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Wedbush dropped their price objective on shares of Beyond from $37.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Piper Sandler reduced their target price on shares of Beyond from $17.00 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Finally, Jefferies Financial Group dropped their price target on shares of Beyond from $14.00 to $11.00 and set a “hold” rating on the stock in a research note on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $17.50.

Beyond Stock Down 4.8 %

BYON stock opened at $6.37 on Wednesday. The firm has a market cap of $291.43 million, a price-to-earnings ratio of -0.86 and a beta of 3.65. Beyond has a 1-year low of $6.06 and a 1-year high of $37.10. The firm has a fifty day moving average price of $10.23 and a two-hundred day moving average price of $14.04. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.14 and a quick ratio of 1.08.

Beyond (NYSE:BYON) last announced its quarterly earnings data on Monday, July 29th. The company reported ($0.76) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.13. Beyond had a negative net margin of 22.03% and a negative return on equity of 49.00%. The business had revenue of $398.10 million during the quarter, compared to the consensus estimate of $381.74 million. During the same quarter in the prior year, the firm earned ($0.02) EPS. The company’s revenue for the quarter was down 5.7% compared to the same quarter last year. Research analysts predict that Beyond will post -3.55 EPS for the current year.

Insiders Place Their Bets

In other news, Director William Benjamin Nettles, Jr. sold 10,412 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $9.35, for a total value of $97,352.20. Following the completion of the transaction, the director now directly owns 11,368 shares in the company, valued at $106,290.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director William Benjamin Nettles, Jr. sold 10,412 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $9.35, for a total value of $97,352.20. Following the completion of the sale, the director now owns 11,368 shares in the company, valued at $106,290.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Barclay F. Corbus bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were purchased at an average cost of $10.66 per share, with a total value of $53,300.00. Following the purchase, the director now directly owns 66,668 shares of the company’s stock, valued at approximately $710,680.88. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.20% of the stock is owned by insiders.

Institutional Trading of Beyond

Hedge funds and other institutional investors have recently made changes to their positions in the business. Semanteon Capital Management LP grew its position in Beyond by 76.2% in the third quarter. Semanteon Capital Management LP now owns 113,959 shares of the company’s stock worth $1,149,000 after buying an additional 49,300 shares during the last quarter. SRN Advisors LLC boosted its stake in shares of Beyond by 48.6% during the 3rd quarter. SRN Advisors LLC now owns 121,001 shares of the company’s stock worth $1,220,000 after acquiring an additional 39,596 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Beyond in the 3rd quarter worth $2,035,000. Fortis Group Advisors LLC raised its position in shares of Beyond by 14.4% during the third quarter. Fortis Group Advisors LLC now owns 13,689 shares of the company’s stock worth $138,000 after purchasing an additional 1,724 shares during the period. Finally, Capstone Wealth Management Group LLC lifted its holdings in shares of Beyond by 28.5% during the third quarter. Capstone Wealth Management Group LLC now owns 94,323 shares of the company’s stock valued at $951,000 after purchasing an additional 20,923 shares during the last quarter. 76.30% of the stock is currently owned by institutional investors.

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.