Falcon's Beyond Global (NASDAQ:FBYD) Shares Gap Up - Here's Why

Key Points

• Falcon’s Beyond Global shares opened higher, rising from a prior close of $6.75 to $7.35 and last trading at $7.555, though volume was light at 790 shares.
• Analyst sentiment remains negative: Wall Street Zen and Weiss Ratings downgraded the stock, and its sole analyst rating is “Sell.”
• The company reported a quarterly loss of $0.01 per share on $5.62 million in revenue, with negative return on equity and net margin; institutional investors own 38.88% of the stock, while State Street increased its stake by 88.1%.

Falcon's Beyond Global, Inc. (NASDAQ:FBYD - Get Free Report)'s stock price gapped up before the market opened on Monday. The stock had previously closed at $6.75, but opened at $7.35. Falcon's Beyond Global shares last traded at $7.5550, with a volume of 790 shares changing hands.

Analysts Set New Price Targets

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

Falcon's Beyond Global Stock Performance

The company has a market capitalization of $963.29 million, a P/E ratio of -78.85 and a beta of -2.60. The firm has a 50 day moving average price of $9.07 and a two-hundred day moving average price of $11.82. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.66 and a current ratio of 0.66.

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

Institutional Investors Weigh In On Falcon's Beyond Global

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

Falcon's Beyond Global Company Profile

Falcon's Beyond Global, Inc is an entertainment and development company focused on creating immersive attractions, destination resorts and branded experiences. The company combines storytelling, technology and intellectual property to develop theme parks and other location-based entertainment offerings.

Through its businesses, Falcon's Beyond provides attraction design, master planning, creative development and operational services for theme parks and resorts. Its activities also include developing entertainment brands and intellectual property for use across attractions, hospitality, consumer products, media and other forms of experiential entertainment.

The company's portfolio includes the Katmandu brand, which features themed attractions, parks and resort experiences.

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