Beyond (NYSE:BYON) Shares Up 8.8% - What's Next?

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 shot up 8.8% on Tuesday . The stock traded as high as $9.19 and last traded at $9.26. 1,079,012 shares changed hands during trading, a decline of 66% from the average session volume of 3,171,211 shares. The stock had previously closed at $8.51.

Wall Street Analysts Forecast Growth

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

Beyond Price Performance

The firm has a 50-day simple moving average of $7.96 and a 200-day simple moving average of $6.53.

Beyond (NYSE:BYON - Get Free Report) last announced its earnings results on Monday, July 28th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.15. The business had revenue of $282.25 million for the quarter, compared to analysts' expectations of $250.37 million. Beyond had a negative return on equity of 78.27% and a negative net margin of 17.86%. The business's revenue for the quarter was down 29.1% on a year-over-year basis. During the same period last year, the firm posted ($0.76) earnings per share. As a group, equities analysts anticipate that Beyond, Inc. will post -3.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BYON. Ameritas Investment Partners Inc. lifted its holdings in Beyond by 25.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,617 shares of the company's stock worth $39,000 after purchasing an additional 1,133 shares in the last quarter. Haven Private LLC lifted its holdings in Beyond by 10.8% in the 2nd quarter. Haven Private LLC now owns 13,620 shares of the company's stock worth $94,000 after purchasing an additional 1,325 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in Beyond by 85.2% in 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 increased its stake in Beyond by 33.1% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 7,359 shares of the company's stock worth $51,000 after acquiring an additional 1,828 shares during the last quarter. Finally, Avantax Advisory Services Inc. increased its stake in Beyond by 21.5% in the 1st quarter. Avantax Advisory Services Inc. now owns 18,655 shares of the company's stock worth $108,000 after acquiring an additional 3,304 shares during the last quarter. 76.30% of the stock is 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.