Beyond, Inc. (NYSE:BYON) Short Interest Update

Beyond, Inc. (NYSE:BYON) was the recipient of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 5,690,000 shares, a decrease of 10.5% from the September 15th total of 6,360,000 shares. Based on an average daily volume of 2,160,000 shares, the days-to-cover ratio is currently 2.6 days. Approximately 12.6% of the company’s shares are sold short.

Beyond Stock Down 1.7 %

NYSE:BYON traded down $0.18 during midday trading on Thursday, reaching $10.11. The company had a trading volume of 1,430,708 shares, compared to its average volume of 1,819,516. Beyond has a 12-month low of $8.91 and a 12-month high of $37.10. The firm has a market capitalization of $462.53 million, a price-to-earnings ratio of -1.24 and a beta of 3.65. The company has a current ratio of 1.14, a quick ratio of 1.08 and a debt-to-equity ratio of 0.14. The stock’s fifty day simple moving average is $10.25 and its 200-day simple moving average is $14.85.

Beyond (NYSE:BYON) last posted its quarterly earnings results on Monday, July 29th. The company reported ($0.76) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.13. Beyond had a negative return on equity of 49.00% and a negative net margin of 22.03%. The company had revenue of $398.10 million for the quarter, compared to analyst estimates of $381.74 million. During the same quarter last year, the company earned ($0.02) EPS. Beyond’s revenue for the quarter was down 5.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Beyond will post -3.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BYON has been the topic of a number of research analyst reports. Barclays reduced their price target on shares of Beyond from $22.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Friday, July 26th. Piper Sandler cut their target price on Beyond from $17.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Jefferies Financial Group lowered their price target on Beyond from $14.00 to $11.00 and set a “hold” rating for the company in a research report on Monday, September 23rd. Bank of America decreased their target price on Beyond from $15.50 to $15.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Finally, Wedbush lowered their target price on Beyond from $37.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $25.25.

Insider Activity at Beyond

In other news, Director Barclay F. Corbus purchased 5,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was acquired at an average price of $10.66 per share, with a total value of $53,300.00. Following the purchase, the director now directly owns 66,668 shares in the company, valued at approximately $710,680.88. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director William Benjamin Nettles, Jr. sold 10,412 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $9.35, for a total transaction of $97,352.20. Following the completion of the sale, the director now directly owns 11,368 shares of the company’s stock, valued at approximately $106,290.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Barclay F. Corbus acquired 5,000 shares of Beyond stock in a transaction that occurred on Thursday, August 1st. The stock was bought at an average price of $10.66 per share, for a total transaction of $53,300.00. Following the completion of the acquisition, the director now owns 66,668 shares in the company, valued at $710,680.88. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Capstone Wealth Management Group LLC raised its holdings in shares of Beyond by 28.5% in the 3rd quarter. Capstone Wealth Management Group LLC now owns 94,323 shares of the company’s stock valued at $951,000 after purchasing an additional 20,923 shares in the last quarter. Tobam raised its stake in Beyond by 78.8% in the third quarter. Tobam now owns 10,648 shares of the company’s stock valued at $107,000 after buying an additional 4,693 shares in the last quarter. O Keefe Stevens Advisory Inc. lifted its holdings in Beyond by 67.9% during the 3rd quarter. O Keefe Stevens Advisory Inc. now owns 19,504 shares of the company’s stock worth $197,000 after buying an additional 7,889 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Beyond during the 2nd quarter worth about $650,000. Finally, SRN Advisors LLC increased its holdings in shares of Beyond by 82.4% in the 2nd quarter. SRN Advisors LLC now owns 81,405 shares of the company’s stock valued at $1,065,000 after acquiring an additional 36,774 shares during the last quarter. Hedge funds and other institutional investors own 76.30% of the company’s stock.

Beyond Company Profile

Beyond, Inc operates as an online retailer of furniture and home furnishings products in the United States and Canada. The company offers furniture, bedding and bath, patio and outdoor gear, area rugs, tabletop and cookware, décor, storage and organization, small appliances, home improvement, and other products under the Bed Bath & Beyond brand.