Beyond (NYSE:BYON) Stock Price Down 6% - Here's What Happened

Beyond, Inc. (NYSE:BYON - Get Free Report)'s share price was down 6% during mid-day trading on Tuesday . The stock traded as low as $10.18 and last traded at $10.20. Approximately 2,668,249 shares traded hands during trading, a decline of 5% from the average daily volume of 2,806,610 shares. The stock had previously closed at $10.84.

Analyst Ratings Changes

A number of research analysts have recently commented on BYON shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Beyond in a research report on Wednesday, April 30th. Barclays dropped their price objective on Beyond from $7.00 to $5.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 30th. Wedbush increased their price objective on Beyond from $10.00 to $13.00 and gave the stock an "outperform" rating in a report on Tuesday. Finally, 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 report on Tuesday, April 29th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $8.86.

Beyond Stock Down 2.1%

The company has a fifty day moving average of $6.72 and a 200 day moving average of $6.14. The company has a market cap of $612.32 million, a P/E ratio of -2.28 and a beta of 3.25.

Beyond (NYSE:BYON - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The company reported ($0.42) earnings per share for the quarter, topping analysts' consensus estimates of ($0.67) by $0.25. The firm had revenue of $231.75 million during the quarter, compared to analyst estimates of $288.13 million. Beyond had a negative return on equity of 77.61% and a negative net margin of 18.06%. The business's quarterly revenue was down 39.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.22) earnings per share. As a group, research analysts forecast that Beyond, Inc. will post -3.75 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Canada Pension Plan Investment Board acquired a new stake in Beyond during the fourth quarter worth about $32,000. Caitong International Asset Management Co. Ltd lifted its position in Beyond by 104.2% during the first quarter. Caitong International Asset Management Co. Ltd now owns 5,531 shares of the company's stock worth $32,000 after buying an additional 2,823 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Beyond during the fourth quarter worth approximately $39,000. Pingora Partners LLC purchased a new position in Beyond during the fourth quarter worth approximately $41,000. Finally, RPO LLC purchased a new position in Beyond during the fourth quarter worth approximately $52,000. 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.

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