Beyond (NYSE:BYON) Hits New 1-Year Low at $12.16

Beyond, Inc. (NYSE:BYON)’s stock price reached a new 52-week low on Friday . The stock traded as low as $12.16 and last traded at $12.16, with a volume of 445147 shares traded. The stock had previously closed at $12.49.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BYON shares. Maxim Group cut their price target on Beyond from $50.00 to $36.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Piper Sandler cut their price target on Beyond from $26.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. Wedbush restated an “outperform” rating and set a $37.00 price target on shares of Beyond in a research note on Tuesday, May 14th. Needham & Company LLC restated a “hold” rating on shares of Beyond in a research note on Monday, May 20th. Finally, Bank of America cut their target price on Beyond from $19.00 to $15.50 and set a “neutral” rating on the stock in a research note on Tuesday, June 18th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Beyond currently has a consensus rating of “Hold” and an average target price of $30.36.

Beyond Price Performance

The firm has a 50 day simple moving average of $15.97 and a 200-day simple moving average of $23.75. The company has a quick ratio of 1.19, a current ratio of 1.24 and a debt-to-equity ratio of 0.12. The company has a market cap of $559.07 million, a PE ratio of -1.53 and a beta of 3.70.

Beyond (NYSE:BYON) last issued its quarterly earnings results on Monday, May 6th. The company reported ($1.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.30). Beyond had a negative return on equity of 32.05% and a negative net margin of 23.67%. The business had revenue of $382.28 million for the quarter, compared to analysts’ expectations of $389.36 million. During the same quarter in the previous year, the firm posted ($0.10) EPS. Beyond’s revenue was up .3% on a year-over-year basis. As a group, research analysts predict that Beyond, Inc. will post -3.1 earnings per share for the current fiscal year.

Insider Transactions at Beyond

In other Beyond news, Director Joseph J. Tabacco, Jr. purchased 12,400 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were acquired at an average price of $16.01 per share, for a total transaction of $198,524.00. Following the completion of the purchase, the director now owns 97,458 shares of the company’s stock, valued at $1,560,302.58. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Joseph J. Tabacco, Jr. bought 12,400 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was purchased at an average price of $16.01 per share, with a total value of $198,524.00. Following the completion of the acquisition, the director now directly owns 97,458 shares of the company’s stock, valued at approximately $1,560,302.58. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Marcus Lemonis bought 17,075 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were purchased at an average cost of $14.61 per share, with a total value of $249,465.75. Following the acquisition, the chairman now directly owns 186,973 shares of the company’s stock, valued at $2,731,675.53. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 40,095 shares of company stock worth $596,237. Insiders own 1.20% of the company’s stock.

Institutional Trading of Beyond

Several large investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC acquired a new position in Beyond during the 1st quarter worth about $33,599,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Beyond during the 1st quarter worth about $8,956,000. Shell Asset Management Co. acquired a new position in Beyond during the 1st quarter worth about $2,271,000. Boston Partners acquired a new position in Beyond during the 1st quarter worth about $2,152,000. Finally, California State Teachers Retirement System acquired a new position in Beyond during the 1st quarter worth about $1,479,000. 76.30% of the stock is currently owned by hedge funds and other 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.