Short Interest in Beyond, Inc. (NYSE:BYON) Expands By 6.7%

Beyond, Inc. (NYSE:BYON) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 6,360,000 shares, an increase of 6.7% from the August 31st total of 5,960,000 shares. Approximately 14.1% of the shares of the company are sold short. Based on an average daily volume of 2,190,000 shares, the days-to-cover ratio is currently 2.9 days.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on BYON shares. Piper Sandler decreased their price objective on Beyond from $17.00 to $14.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Wedbush decreased their price target on shares of Beyond from $37.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Jefferies Financial Group dropped their price objective on shares of Beyond from $14.00 to $11.00 and set a “hold” rating for the company in a research note on Monday, September 23rd. Bank of America decreased their target price on shares of Beyond from $15.50 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Finally, Barclays lowered their target price 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. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $25.25.

Beyond Trading Down 8.8 %

Shares of NYSE BYON traded down $0.89 during midday trading on Tuesday, hitting $9.19. The stock had a trading volume of 2,270,940 shares, compared to its average volume of 1,841,308. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.14 and a quick ratio of 1.08. Beyond has a fifty-two week low of $9.05 and a fifty-two week high of $37.10. The firm has a market cap of $420.44 million, a P/E ratio of -1.15 and a beta of 3.64. The company’s 50-day simple moving average is $10.69 and its 200 day simple moving average is $16.84.

Beyond (NYSE:BYON) last issued its quarterly earnings results on Monday, July 29th. The company reported ($0.76) EPS for the quarter, topping the consensus estimate of ($0.89) by $0.13. Beyond had a negative net margin of 22.03% and a negative return on equity of 49.00%. The company had revenue of $398.10 million during the quarter, compared to analysts’ expectations of $381.74 million. During the same quarter in the previous year, the company earned ($0.02) EPS. Beyond’s revenue was down 5.7% on a year-over-year basis. Research analysts anticipate that Beyond will post -3.54 EPS for the current year.

Insider Buying and Selling

In other news, Director William Benjamin Nettles, Jr. sold 10,412 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $9.35, for a total value of $97,352.20. Following the completion of the sale, the director now directly owns 11,368 shares in the company, valued at $106,290.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Beyond news, Director Barclay F. Corbus bought 5,000 shares of the stock in a transaction on Thursday, August 1st. The shares were purchased at an average price of $10.66 per share, with a total value of $53,300.00. Following the acquisition, the director now directly owns 66,668 shares of the company’s stock, valued at approximately $710,680.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William Benjamin Nettles, Jr. sold 10,412 shares of Beyond stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $9.35, for a total value of $97,352.20. Following the completion of the transaction, the director now directly owns 11,368 shares in the company, valued at $106,290.80. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Institutional Trading of Beyond

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Tidal Investments LLC bought a new position in Beyond during the first quarter worth about $33,599,000. Dimensional Fund Advisors LP acquired a new stake in shares of Beyond during the second quarter worth about $9,538,000. Refined Wealth Management bought a new position in shares of Beyond during the 2nd quarter valued at about $4,201,000. ProShare Advisors LLC acquired a new position in shares of Beyond in the 2nd quarter valued at approximately $3,800,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Beyond during the 1st quarter worth approximately $8,956,000. 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.