Falcon's Beyond Global (NASDAQ:FBYD) Shares Down 13.6% - Time to Sell?

Key Points

• Falcon’s Beyond Global shares fell 13.6% to $6.624, with trading volume down 75% from the average daily level.
• Analyst sentiment is bearish: Weiss Ratings and Wall Street Zen downgraded the stock, and its consensus rating is currently “Sell.”
• The company reported a quarterly loss of $0.01 per share on $5.62 million in revenue, alongside negative net margins and return on equity; institutional investors own 38.88% of the shares.

Shares of Falcon's Beyond Global, Inc. (NASDAQ:FBYD - Get Free Report) fell 13.6% on Friday. The company traded as low as $6.79 and last traded at $6.6240. 30,614 shares traded hands during trading, a decline of 75% from the average daily volume of 121,145 shares. The stock had previously closed at $7.67.

Analysts Set New Price Targets

FBYD has been the subject of a number of research reports. Weiss Ratings cut shares of Falcon's Beyond Global from a "sell (d+)" rating to a "sell (d)" rating in a research note on Wednesday, September 16th. Wall Street Zen downgraded shares of Falcon's Beyond Global from a "hold" rating to a "sell" rating in a research report on Saturday, August 29th. One analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company presently has an average rating of "Sell".

Falcon's Beyond Global Price Performance

The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $840.20 million, a price-to-earnings ratio of -69.40 and a beta of -2.51. The business's 50 day simple moving average is $8.21 and its 200-day simple moving average is $10.21.

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

Hedge Funds Weigh In On Falcon's Beyond Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Black Diamond Financial LLC acquired a new position in shares of Falcon's Beyond Global during the third quarter worth $85,000. Bank of New York Mellon Corp bought a new stake in Falcon's Beyond Global during the 2nd quarter worth $1,067,000. Finally, State Street Corp grew its position in Falcon's Beyond Global by 88.1% during the 2nd quarter. State Street Corp now owns 399,673 shares of the company's stock worth $7,162,000 after acquiring an additional 187,164 shares during the last quarter. Institutional investors own 38.88% of the company's stock.

About Falcon's Beyond Global

Falcon's Beyond Global, Inc is an entertainment and technology company that develops immersive destinations, intellectual property and branded experiences. Its activities span theme parks, resorts, attractions, media, merchandise and other forms of location-based entertainment, with a focus on combining storytelling, creative design and technology.

The company operates through businesses that develop and manage destination entertainment projects, create and license original characters and brands, and produce content and experiences for consumers.

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