Beyond Target of Unusually Large Options Trading (NYSE:BYON)

Beyond, Inc. (NYSE:BYON) was the target of some unusual options trading activity on Monday. Stock investors bought 9,415 call options on the company. This is an increase of approximately 54% compared to the average volume of 6,101 call options.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BYON. Maxim Group dropped their price target on Beyond from $33.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Piper Sandler dropped their price objective on shares of Beyond from $14.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Argus downgraded Beyond from a “hold” rating to a “sell” rating in a research note on Wednesday, December 18th. Wedbush lowered their target price on Beyond from $25.00 to $15.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Finally, Bank of America lowered shares of Beyond from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $12.50 to $6.00 in a research report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Beyond currently has an average rating of “Hold” and a consensus target price of $16.50.

Beyond Stock Up 14.6 %

Shares of NYSE BYON traded up $0.83 during midday trading on Monday, hitting $6.53. The stock had a trading volume of 2,425,731 shares, compared to its average volume of 3,175,881. The company has a market cap of $300.68 million, a P/E ratio of -0.88 and a beta of 3.74. Beyond has a 52 week low of $4.45 and a 52 week high of $37.10. The company has a quick ratio of 0.91, a current ratio of 0.97 and a debt-to-equity ratio of 0.17. The business’s 50 day moving average is $5.83 and its 200-day moving average is $9.25.

Insider Buying and Selling at Beyond

In other Beyond news, Chairman Marcus Lemonis bought 156,985 shares of the stock in a transaction on Sunday, October 27th. The stock was acquired at an average cost of $6.37 per share, for a total transaction of $999,994.45. Following the completion of the acquisition, the chairman now owns 365,530 shares in the company, valued at $2,328,426.10. This trade represents a 75.28 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its holdings in shares of Beyond by 34.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 389,694 shares of the company’s stock valued at $3,928,000 after acquiring an additional 100,335 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Beyond by 12.8% in the 3rd quarter. Franklin Resources Inc. now owns 21,299 shares of the company’s stock worth $217,000 after purchasing an additional 2,411 shares in the last quarter. Second Line Capital LLC lifted its position in Beyond by 25.0% during the third quarter. Second Line Capital LLC now owns 151,053 shares of the company’s stock valued at $1,523,000 after purchasing an additional 30,196 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Beyond during the third quarter valued at about $107,000. Finally, State Street Corp raised its position in shares of Beyond by 0.9% during the third quarter. State Street Corp now owns 1,016,563 shares of the company’s stock valued at $10,247,000 after buying an additional 8,580 shares during the last quarter. Hedge funds and other institutional investors own 76.30% of the company’s stock.

About Beyond

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.