Beyond (NYSE:BYON) Receives Hold Rating from Needham & Company LLC

Beyond (NYSE:BYON)‘s stock had its “hold” rating reissued by research analysts at Needham & Company LLC in a research note issued on Wednesday,Benzinga reports.

A number of other brokerages also recently issued reports on BYON. Jefferies Financial Group dropped their price objective on Beyond from $6.50 to $5.00 and set a “hold” rating on the stock in a research note on Tuesday. Wedbush reiterated an “outperform” rating and issued a $15.00 target price on shares of Beyond in a report on Tuesday, April 22nd. Maxim Group cut their price target on Beyond from $26.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Finally, Barclays dropped their target price on shares of Beyond from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 9th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Beyond currently has an average rating of “Hold” and an average price target of $9.14.

Beyond Stock Down 5.9 %

Beyond stock opened at $3.83 on Wednesday. The firm has a market cap of $211.50 million, a price-to-earnings ratio of -0.52 and a beta of 4.09. Beyond has a 52-week low of $3.54 and a 52-week high of $22.65. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.91 and a current ratio of 0.97. The firm has a 50 day moving average price of $4.86 and a two-hundred day moving average price of $6.12.

Beyond (NYSE:BYON) last announced its earnings results on Monday, April 28th. The company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.25. The business had revenue of $231.75 million during the quarter, compared to the consensus estimate of $288.13 million. Beyond had a negative net margin of 22.82% and a negative return on equity of 69.32%. Beyond’s quarterly revenue was down 39.4% on a year-over-year basis. During the same quarter last year, the firm earned ($1.22) earnings per share. Equities analysts predict that Beyond will post -3.75 EPS for the current year.

Insiders Place Their Bets

In other news, Chairman Marcus Lemonis bought 19,193 shares of Beyond stock in a transaction dated Thursday, March 13th. The stock was purchased at an average price of $5.03 per share, for a total transaction of $96,540.79. Following the purchase, the chairman now directly owns 456,151 shares in the company, valued at $2,294,439.53. The trade was a 4.39 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Beyond

A number of institutional investors have recently added to or reduced their stakes in BYON. Tidal Investments LLC boosted its stake in shares of Beyond by 140.4% in the 4th quarter. Tidal Investments LLC now owns 2,406,746 shares of the company’s stock worth $11,865,000 after buying an additional 1,405,770 shares during the last quarter. Two Sigma Investments LP boosted its position in Beyond by 75.1% in the fourth quarter. Two Sigma Investments LP now owns 916,178 shares of the company’s stock worth $4,517,000 after purchasing an additional 392,977 shares during the last quarter. Two Sigma Advisers LP grew its stake in Beyond by 362.8% in the 4th quarter. Two Sigma Advisers LP now owns 901,500 shares of the company’s stock valued at $4,444,000 after purchasing an additional 706,700 shares during the period. Invesco Ltd. increased its position in shares of Beyond by 26.4% during the 4th quarter. Invesco Ltd. now owns 796,445 shares of the company’s stock valued at $3,926,000 after purchasing an additional 166,411 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of Beyond by 390.0% during the 4th quarter. Federated Hermes Inc. now owns 728,158 shares of the company’s stock worth $3,590,000 after purchasing an additional 579,565 shares during the period. 76.30% of the stock is owned by institutional investors.

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.