Beyond (NYSE:BYON) Shares Up 8.8% - Here's What Happened

Key Points

• Beyond, Inc. (NYSE:BYON) shares increased by 8.8%, reaching a last traded price of $9.26, after closing at $8.51.
• Despite the uptick in share price, analyst ratings vary, with Wall Street Zen upgrading to "hold," while Barclays and Jefferies have reduced their price targets to $5.00.
• In their most recent quarterly earnings, Beyond reported a loss of ($0.22) per share, which was better than analysts' expectations of ($0.37), alongside revenues of $282.25 million.

Beyond, Inc. (NYSE:BYON - Get Free Report)'s stock price was up 8.8% during trading on Tuesday . The stock traded as high as $9.19 and last traded at $9.26. Approximately 1,079,012 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 3,171,211 shares. The stock had previously closed at $8.51.

Analyst Upgrades and Downgrades

Several research firms recently commented on BYON. Needham & Company LLC reissued a "hold" rating on shares of Beyond in a research note on Tuesday, July 29th. Barclays decreased their price objective on Beyond from $7.00 to $5.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 30th. Jefferies Financial Group dropped their target price on Beyond from $6.50 to $5.00 and set a "hold" rating on the stock in a report on Tuesday, April 29th. Wall Street Zen upgraded shares of Beyond from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Wedbush lifted their price target on Beyond from $10.00 to $13.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, Beyond currently has an average rating of "Hold" and an average target price of $8.86.

Beyond Trading Up 7.4%

The company has a 50 day simple moving average of $7.75 and a 200 day simple moving average of $6.49. The stock has a market capitalization of $524.90 million, a PE ratio of -2.25 and a beta of 2.76.

Beyond (NYSE:BYON - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The company reported ($0.22) earnings per share for the quarter, beating analysts' consensus estimates of ($0.37) by $0.15. The firm had revenue of $282.25 million for the quarter, compared to analyst estimates of $250.37 million. Beyond had a negative net margin of 17.86% and a negative return on equity of 78.27%. Beyond's quarterly revenue was down 29.1% on a year-over-year basis. During the same period last year, the firm posted ($0.76) EPS. On average, equities research analysts predict that Beyond, Inc. will post -3.75 EPS for the current year.

Institutional Investors Weigh In On Beyond

Several institutional investors have recently made changes to their positions in BYON. Haven Private LLC increased its position in shares of Beyond by 10.8% in the second quarter. Haven Private LLC now owns 13,620 shares of the company's stock valued at $94,000 after buying an additional 1,325 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Beyond by 85.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,629 shares of the company's stock worth $25,000 after purchasing an additional 1,669 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of Beyond by 33.1% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 7,359 shares of the company's stock worth $51,000 after purchasing an additional 1,828 shares during the last quarter. Avantax Advisory Services Inc. raised its position in shares of Beyond by 21.5% during the 1st quarter. Avantax Advisory Services Inc. now owns 18,655 shares of the company's stock worth $108,000 after purchasing an additional 3,304 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Beyond by 9.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,805 shares of the company's stock valued at $250,000 after buying an additional 4,418 shares in the last quarter. 76.30% of the stock is currently owned by hedge funds and other institutional investors.

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.

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