Falcon's Beyond Global (NASDAQ:FBYD) Shares Gap Up - Still a Buy?

Key Points

• Falcon’s Beyond Global shares initially gapped up from $8.94 to an opening price of $9.21, but later traded at $7.916, representing a 15.2% decline.
• Analysts have turned more negative, with Weiss Ratings and Wall Street Zen downgrading the stock to “sell.” MarketBeat reports an average analyst rating of “Sell.”
• 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%; institutional investors own 38.88% of the shares.

Falcon's Beyond Global, Inc. (NASDAQ:FBYD - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $8.94, but opened at $9.21. Falcon's Beyond Global shares last traded at $7.9160, with a volume of 13,867 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on FBYD shares. Weiss Ratings cut Falcon's Beyond Global from a "hold (c-)" rating to a "sell (d)" rating in a research note on Friday, August 14th. Wall Street Zen lowered shares of Falcon's Beyond Global from a "hold" rating to a "sell" rating in a research note on Saturday. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of "Sell".

Falcon's Beyond Global Trading Down 15.2%

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 firm has a market cap of $919.76 million, a PE ratio of -75.30 and a beta of -2.57. The firm has a 50 day moving average of $12.47 and a 200 day moving average of $11.60.

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 for the quarter. Falcon's Beyond Global had a negative return on equity of 50.04% and a negative net margin of 8.60%.The firm had revenue of $5.62 million during the quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FBYD. Vanguard Group Inc. grew its stake in Falcon's Beyond Global by 434.9% during the third 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. Geode Capital Management LLC increased its holdings in shares of 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 worth $4,770,000 after purchasing an additional 147,056 shares during the period. Invesco Ltd. bought a new position in shares of Falcon's Beyond Global in the fourth quarter worth $2,555,000. State Street Corp raised its position in shares of Falcon's Beyond Global by 648.9% in the fourth quarter. State Street Corp now owns 153,824 shares of the company's stock worth $2,309,000 after buying an additional 133,284 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Falcon's Beyond Global in the second quarter worth $1,067,000. Hedge funds and other institutional investors own 38.88% of the company's stock.

Falcon's Beyond Global Company Profile

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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