Beyond (NYSE:BYON) Trading 8.9% Higher - What's Next?

Key Points

• Beyond, Inc. (NYSE:BYON) experienced a significant share price increase of 8.9%, trading at $8.68, following a decline in average trading volume.
• Analysts show mixed sentiment towards Beyond, with Wedbush upgrading its target price from $10.00 to $13.00, while Jefferies and Barclays both reduced their target prices significantly.
• In its last quarterly report, Beyond reported a narrower-than-expected loss of ($0.22) EPS and a revenue of $282.25 million, although its revenue decreased 29.1% year-over-year.

Beyond, Inc. (NYSE:BYON - Get Free Report) shares were up 8.9% during trading on Tuesday . The stock traded as high as $8.71 and last traded at $8.68. Approximately 2,059,596 shares traded hands during mid-day trading, a decline of 36% from the average daily volume of 3,212,348 shares. The stock had previously closed at $7.97.

Analyst Ratings Changes

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

Beyond Stock Down 4.0%

The company's fifty day moving average price is $7.71 and its 200-day moving average price is $6.49. The stock has a market capitalization of $454.69 million, a PE ratio of -1.95 and a beta of 2.76.

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

Hedge Funds Weigh In On Beyond

A number of hedge funds have recently added to or reduced their stakes in the company. Intech Investment Management LLC raised its holdings in Beyond by 45.3% in the 2nd quarter. Intech Investment Management LLC now owns 42,087 shares of the company's stock worth $290,000 after acquiring an additional 13,120 shares during the last quarter. Cetera Investment Advisers raised its holdings in Beyond by 25.0% in the 2nd quarter. Cetera Investment Advisers now owns 158,121 shares of the company's stock worth $1,088,000 after acquiring an additional 31,591 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in Beyond by 23.7% in the 2nd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 41,496 shares of the company's stock worth $271,000 after acquiring an additional 7,963 shares during the last quarter. Geode Capital Management LLC raised its holdings in Beyond by 20.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,241,524 shares of the company's stock worth $8,543,000 after acquiring an additional 211,446 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in Beyond by 19.4% in the 2nd quarter. ProShare Advisors LLC now owns 518,173 shares of the company's stock worth $3,565,000 after acquiring an additional 84,356 shares during the last quarter. 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.