Beyond (NYSE:BYON) Rating Lowered to Sell at Argus

Beyond (NYSE:BYON) was downgraded by equities research analysts at Argus from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday,Finviz reports.

A number of other brokerages have also recently commented on BYON. Wedbush cut their price target on shares of Beyond from $25.00 to $15.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Maxim Group decreased their target price on Beyond from $33.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Needham & Company LLC reissued a “buy” rating and issued a $13.00 price target on shares of Beyond in a research note on Wednesday, October 23rd. Jefferies Financial Group cut their price target on Beyond from $14.00 to $11.00 and set a “hold” rating on the stock in a report on Monday, September 23rd. Finally, Bank of America lowered shares of Beyond from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $12.50 to $6.00 in a research note on Friday, October 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $16.50.

Beyond Stock Down 1.6 %

Shares of NYSE BYON opened at $4.98 on Wednesday. The company’s 50 day moving average price is $7.01 and its 200-day moving average price is $10.12. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.91 and a current ratio of 0.97. Beyond has a 52-week low of $4.94 and a 52-week high of $37.10. The company has a market capitalization of $229.31 million, a P/E ratio of -0.67 and a beta of 3.70.

Insiders Place Their Bets

In other news, Chairman Marcus Lemonis bought 156,985 shares of the stock in a transaction dated Sunday, October 27th. The stock was bought at an average price 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 in the company, valued at approximately $2,328,426.10. This trade represents a 75.28 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Beyond

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC bought a new stake in Beyond in the second quarter worth about $44,000. CWM LLC purchased a new stake in shares of Beyond during the 2nd quarter worth approximately $46,000. Hollencrest Capital Management bought a new stake in shares of Beyond in the 2nd quarter worth approximately $46,000. Sunbelt Securities Inc. purchased a new stake in Beyond in the second quarter worth $47,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of Beyond during the 2nd quarter valued at $75,000. Hedge funds and other 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.