Beyond’s (BYON) Outperform Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of Beyond (NYSE:BYON) in a research note published on Wednesday,RTT News reports. They currently have a $15.00 price objective on the stock.

Other equities research analysts have also issued research reports about the stock. Barclays reduced 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 note on Thursday, January 9th. Argus lowered shares of Beyond from a “hold” rating to a “sell” rating in a research report on Wednesday, December 18th. Jefferies Financial Group cut their target price on shares of Beyond from $7.25 to $6.50 and set a “hold” rating for the company in a research report on Monday, March 10th. Maxim Group cut their target price 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. Finally, Needham & Company LLC lowered shares of Beyond from a “buy” rating to a “hold” rating and set a $9.00 target price for the company. in a research report on Wednesday, March 5th. Two investment 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, the stock presently has an average rating of “Hold” and an average price target of $9.64.

Beyond Stock Up 1.9 %

BYON stock opened at $5.12 on Wednesday. The company has a current ratio of 0.97, a quick ratio of 0.91 and a debt-to-equity ratio of 0.17. Beyond has a 1 year low of $4.45 and a 1 year high of $37.10. The company has a fifty day simple moving average of $6.95 and a 200 day simple moving average of $7.37. The firm has a market cap of $271.84 million, a PE ratio of -0.69 and a beta of 3.91.

Beyond (NYSE:BYON) last released its quarterly earnings data on Monday, February 24th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($0.17). Beyond had a negative net margin of 22.82% and a negative return on equity of 69.32%. The business had revenue of $303.15 million during the quarter, compared to analyst estimates of $337.96 million. Sell-side analysts anticipate that Beyond will post -3.75 EPS for the current fiscal year.

Insider Transactions at Beyond

In related 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, for a total transaction of $96,540.79. Following the acquisition, the chairman now owns 456,151 shares in the company, valued at $2,294,439.53. This trade represents a 4.39 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BYON. Bank of New York Mellon Corp raised its position in Beyond by 1.0% in the fourth quarter. Bank of New York Mellon Corp now owns 136,405 shares of the company’s stock worth $672,000 after purchasing an additional 1,292 shares in the last quarter. Franklin Resources Inc. lifted its stake in Beyond by 12.8% during the third quarter. Franklin Resources Inc. now owns 21,299 shares of the company’s stock worth $217,000 after purchasing an additional 2,411 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its stake in Beyond by 68.4% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 6,592 shares of the company’s stock worth $32,000 after purchasing an additional 2,678 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Beyond by 25.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,127 shares of the company’s stock valued at $152,000 after buying an additional 3,059 shares in the last quarter. Finally, Dupree Financial Group LLC grew its position in Beyond by 4.6% in the fourth quarter. Dupree Financial Group LLC now owns 94,149 shares of the company’s stock valued at $464,000 after acquiring an additional 4,107 shares during the period. Institutional investors own 76.30% of the company’s stock.

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.