Falcon's Beyond Global (NASDAQ:FBYD) Stock Falls 11.8% - Here's What Happened

Key Points

• Falcon’s Beyond Global shares fell 11.8% to $7.299, with trading volume down 77% from the stock’s average daily volume.
• Analyst sentiment is bearish: Wall Street Zen downgraded the stock to “sell,” Weiss Ratings lowered its sell-grade assessment, and the company has an overall “Sell” rating.
• The company reported a quarterly loss of $0.01 per share on $5.62 million in revenue, alongside a negative net margin and return on equity; meanwhile, Bank of New York Mellon acquired a new 59,538-share stake.

Falcon's Beyond Global, Inc. (NASDAQ:FBYD - Get Free Report)'s stock price fell 11.8% during trading on Friday. The stock traded as low as $7.33 and last traded at $7.2990. Approximately 27,622 shares traded hands during trading, a decline of 77% from the average daily volume of 121,111 shares. The stock had previously closed at $8.28.

Analyst Ratings Changes

A number of equities research analysts have weighed in on FBYD shares. Wall Street Zen downgraded shares of Falcon's Beyond Global from a "hold" rating to a "sell" rating in a research note on Saturday, August 29th. Weiss Ratings cut 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 equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company presently has an average rating of "Sell".

Falcon's Beyond Global Stock Performance

The stock's 50 day simple moving average is $8.43 and its two-hundred day simple moving average is $11.82. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a market cap of $841.54 million, a P/E ratio of -69.36 and a beta of -2.51.

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. 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%.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Falcon's Beyond Global stock. Bank of New York Mellon Corp bought a new stake in Falcon's Beyond Global, Inc. (NASDAQ:FBYD - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 59,538 shares of the company's stock, valued at approximately $1,067,000. 38.88% of the stock is owned by institutional investors.

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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