Falcon's Beyond Global (NASDAQ:FBYD) Trading Down 6.4% - Here's Why

Key Points

• Falcon's Beyond Global (NASDAQ: FBYD) fell 6.4% on Friday, trading as low as $11.80 before last changing hands at $11.46.
• Trading volume was very light at 7,333 shares, far below its average daily volume of 123,552 shares.
• Analyst sentiment is cautious but improving, with multiple firms recently upgrading the stock to Hold and a consensus rating of Hold overall.

Falcon's Beyond Global, Inc. (NASDAQ:FBYD - Get Free Report)'s stock price was down 6.4% during trading on Friday . The stock traded as low as $11.80 and last traded at $11.46. 7,333 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 123,552 shares. The stock had previously closed at $12.24.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on FBYD shares. Wall Street Zen upgraded shares of Falcon's Beyond Global from a "sell" rating to a "hold" rating in a research report on Saturday, April 4th. Weiss Ratings raised Falcon's Beyond Global from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, June 25th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of "Hold".

Falcon's Beyond Global Stock Down 14.3%

The business's 50-day moving average price is $15.07 and its 200-day moving average price is $11.29. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $1.27 billion, a PE ratio of 49.92 and a beta of -2.84.

Institutional Investors Weigh In On Falcon's Beyond Global

A number of institutional investors have recently modified their holdings of FBYD. Vanguard Group Inc. grew its holdings in shares of Falcon's Beyond Global by 434.9% during the 3rd quarter. Vanguard Group Inc. now owns 439,813 shares of the company's stock valued at $4,847,000 after acquiring an additional 357,589 shares in the last quarter. Bank of America Corp DE boosted its position in Falcon's Beyond Global by 8,008.5% during the third quarter. Bank of America Corp DE now owns 3,811 shares of the company's stock valued at $42,000 after purchasing an additional 3,764 shares during the last quarter. Strs Ohio acquired a new stake in Falcon's Beyond Global during the fourth quarter valued at $39,000. Global Retirement Partners LLC purchased a new position in Falcon's Beyond Global in the fourth quarter valued at about $30,000. Finally, Geode Capital Management LLC grew its stake in Falcon's Beyond Global by 86.2% in the fourth quarter. Geode Capital Management LLC now owns 317,709 shares of the company's stock valued at $4,770,000 after purchasing an additional 147,056 shares in the last quarter. Institutional investors and hedge funds own 38.88% of the company's stock.

About Falcon's Beyond Global

Falcon's Beyond Global, Inc is an experiential entertainment development enterprise. It connects the world by bringing stories to life through theme parks, resorts, animation, consumer products, gaming, and movies. The company propels intellectual property activations concurrently across physical and digital experiences through three core business units. Falcon's Creative Group is a themed entertainment and master planning firm. Falcon's Beyond Destinations develops, owns, and operates global entertainment destinations from resorts, theme parks, and attractions to retail, dining and location-based entertainment venues.

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