Falcon's Beyond Global (NASDAQ:FBYD) Shares Climb 7.6% - Here's Why

Key Points

• Falcon’s Beyond Global shares rose 7.6% to about $8.77 during Tuesday trading, although volume was roughly 90% below the stock’s average session volume.
• Analyst sentiment remains negative: Weiss Ratings and Wall Street Zen both downgraded the stock to “Sell,” giving it an average “Sell” rating.
• The company reported a quarterly loss of $0.01 per share on $5.62 million in revenue, alongside a negative net margin of 8.60% and negative return on equity of 50.04%; State Street nevertheless increased its stake by 88.1% in the second quarter.

Falcon's Beyond Global, Inc. (NASDAQ:FBYD - Get Free Report) shares shot up 7.6% during trading on Tuesday. The company traded as high as $8.67 and last traded at $8.7730. Approximately 12,719 shares traded hands during trading, a decline of 90% from the average session volume of 124,527 shares. The stock had previously closed at $8.15.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Weiss Ratings lowered Falcon's Beyond Global from a "sell (d+)" rating to a "sell (d)" rating in a report on Wednesday, September 16th. Wall Street Zen cut Falcon's Beyond Global from a "hold" rating to a "sell" rating in a research note on Saturday, August 29th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of "Sell".

Falcon's Beyond Global Trading Up 9.1%

The stock has a market capitalization of $1.08 billion, a PE ratio of -88.45 and a beta of -2.51. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.25. The stock has a 50 day moving average price of $8.81 and a 200-day moving average price of $11.89.

Falcon's Beyond Global (NASDAQ:FBYD - Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported ($0.01) earnings per share (EPS) for the quarter. Falcon's Beyond Global had a negative net margin of 8.60% and a negative return on equity of 50.04%. The business had revenue of $5.62 million for the quarter.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Falcon's Beyond Global stock. State Street Corp lifted its stake in Falcon's Beyond Global, Inc. (NASDAQ:FBYD - Free Report) by 88.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 399,673 shares of the company's stock after buying an additional 187,164 shares during the quarter. State Street Corp owned approximately 0.33% of Falcon's Beyond Global worth $7,162,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 38.88% of the company's stock.

About Falcon's Beyond Global

Falcon's Beyond Global is an entertainment development company that creates and operates immersive attractions, theme parks, resorts and other experiential destinations. Its activities combine storytelling, technology, design and intellectual-property development to deliver entertainment experiences for visitors and audiences around the world.

The company's businesses include Falcon's Creative Group, which develops attractions and themed environments; Falcon's Beyond Destinations, which focuses on destination-based entertainment and hospitality projects; and Falcon's Beyond Studios, which develops and produces original intellectual property and related media content.

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