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

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

Analyst Ratings Changes

BYON has been the subject of a number of research analyst reports. Wedbush upgraded Beyond to a "strong-buy" rating in a research note on Tuesday, July 1st. Barclays reduced their target price 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 reduced their price objective on Beyond from $6.50 to $5.00 and set a "hold" rating for the company in a research note on Tuesday, April 29th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Beyond in a research note on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $9.14.

Beyond Price Performance

The stock has a market capitalization of $509.31 million, a price-to-earnings ratio of -1.89 and a beta of 3.25. The business has a fifty day moving average of $6.72 and a 200 day moving average of $6.14.

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

Institutional Trading of Beyond

Hedge funds have recently modified their holdings of the stock. Tidal Investments LLC increased its holdings in Beyond by 140.4% in the fourth quarter. Tidal Investments LLC now owns 2,406,746 shares of the company's stock valued at $11,865,000 after buying an additional 1,405,770 shares during the last quarter. Two Sigma Investments LP increased its holdings in Beyond by 75.1% in the fourth quarter. Two Sigma Investments LP now owns 916,178 shares of the company's stock valued at $4,517,000 after buying an additional 392,977 shares during the last quarter. Two Sigma Advisers LP increased its holdings in Beyond by 362.8% in the fourth quarter. Two Sigma Advisers LP now owns 901,500 shares of the company's stock valued at $4,444,000 after buying an additional 706,700 shares during the last quarter. Invesco Ltd. increased its holdings in Beyond by 26.4% in the fourth quarter. Invesco Ltd. now owns 796,445 shares of the company's stock valued at $3,926,000 after buying an additional 166,411 shares during the last quarter. Finally, Federated Hermes Inc. increased its holdings in Beyond by 390.0% in the fourth quarter. Federated Hermes Inc. now owns 728,158 shares of the company's stock valued at $3,590,000 after buying an additional 579,565 shares during the last quarter. 76.30% of the stock is currently 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.