Beyond (NYSE:BYON) Trading Up 10.7% - What's Next?

Beyond, Inc. (NYSE:BYON - Get Free Report) shares shot up 10.7% during trading on Friday . The stock traded as high as $8.91 and last traded at $9.03. 1,696,556 shares traded hands during mid-day trading, a decline of 45% from the average session volume of 3,072,626 shares. The stock had previously closed at $8.16.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BYON. Needham & Company LLC reissued a "hold" rating on shares of Beyond in a report on Wednesday, April 30th. Wedbush raised their price objective on Beyond from $10.00 to $13.00 and gave the company an "outperform" rating in a research note on Tuesday. Barclays dropped 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. Finally, Jefferies Financial Group dropped their price target on Beyond from $6.50 to $5.00 and set a "hold" rating for the company in a research report on Tuesday, April 29th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $8.86.

Beyond Stock Down 2.1%

The stock has a market capitalization of $612.32 million, a price-to-earnings ratio of -2.28 and a beta of 3.25. The business has a 50-day simple moving average of $6.72 and a two-hundred day simple moving average of $6.14.

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

Hedge Funds Weigh In On Beyond

A number of hedge funds have recently modified their holdings of the stock. Parkside Investments LLC increased its position in Beyond by 33.3% during the second quarter. Parkside Investments LLC now owns 80,000 shares of the company's stock worth $550,000 after buying an additional 20,000 shares during the last quarter. Strs Ohio acquired a new position in Beyond during the first quarter worth $151,000. Murchinson Ltd. increased its position in Beyond by 66.7% during the first quarter. Murchinson Ltd. now owns 100,000 shares of the company's stock worth $580,000 after buying an additional 40,000 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Beyond by 30.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 66,512 shares of the company's stock worth $386,000 after buying an additional 15,707 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in Beyond by 217.4% during the first quarter. AQR Capital Management LLC now owns 131,501 shares of the company's stock worth $763,000 after buying an additional 90,076 shares during the last quarter. 76.30% of the stock is owned by institutional investors and hedge funds.

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.