Beyond Sees Unusually Large Options Volume (NYSE:BYON)

Beyond, Inc. (NYSE:BYON) was the target of some unusual options trading on Friday. Stock investors acquired 11,447 call options on the company. This is an increase of 77% compared to the average volume of 6,472 call options.

Analyst Upgrades and Downgrades

BYON has been the topic of a number of research analyst reports. Maxim Group lowered their target price on Beyond from $33.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Wedbush reduced their price target on shares of Beyond from $25.00 to $15.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Barclays cut their price objective on shares of Beyond from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, January 9th. Piper Sandler lowered their price target on Beyond from $14.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $13.00 price objective on shares of Beyond in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Beyond has an average rating of “Hold” and an average target price of $16.38.

Beyond Price Performance

Shares of BYON traded up $0.89 during trading hours on Friday, hitting $7.89. The stock had a trading volume of 2,106,393 shares, compared to its average volume of 2,815,887. Beyond has a 52 week low of $4.45 and a 52 week high of $37.10. The stock has a market capitalization of $363.33 million, a price-to-earnings ratio of -1.07 and a beta of 3.74. The company’s fifty day moving average is $5.73 and its two-hundred day moving average is $8.65. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.97 and a quick ratio of 0.91.

Insider Activity at Beyond

In other 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 acquisition, the chairman now directly owns 365,530 shares of the company’s stock, valued at approximately $2,328,426.10. The trade was a 75.28 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is owned by company insiders.

Institutional Trading of Beyond

Several hedge funds have recently modified their holdings of the company. R Squared Ltd acquired a new position in Beyond during the 4th quarter worth about $32,000. Sunbelt Securities Inc. acquired a new position in shares of Beyond during the second quarter worth approximately $47,000. SG Americas Securities LLC bought a new stake in shares of Beyond during the fourth quarter valued at approximately $67,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Beyond in the third quarter valued at approximately $80,000. Finally, Tobam raised its position in Beyond by 78.8% in the 3rd quarter. Tobam now owns 10,648 shares of the company’s stock worth $107,000 after purchasing an additional 4,693 shares during the last quarter. Institutional investors and hedge funds 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.