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

Beyond, Inc. (NYSE:BYON) was the recipient of some unusual options trading on Friday. Stock investors purchased 12,414 call options on the stock. This represents an increase of approximately 70% compared to the average daily volume of 7,318 call options.

Analyst Ratings Changes

Several research firms have issued reports on BYON. Piper Sandler dropped their price objective on Beyond from $26.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. Bank of America dropped their price objective on Beyond from $19.00 to $15.50 and set a “neutral” rating on the stock in a research note on Tuesday, June 18th. Wedbush reiterated an “outperform” rating and set a $37.00 target price on shares of Beyond in a research note on Tuesday, May 14th. Barclays lowered their target price on Beyond from $30.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Beyond in a research note on Monday, May 20th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Beyond presently has an average rating of “Hold” and a consensus target price of $30.36.

Insider Buying and Selling at Beyond

In related news, Chairman Marcus Lemonis acquired 17,075 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was acquired at an average price of $14.61 per share, for a total transaction of $249,465.75. Following the completion of the acquisition, the chairman now owns 186,973 shares of the company’s stock, valued at approximately $2,731,675.53. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Beyond news, Chairman Marcus Lemonis bought 17,075 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was purchased at an average cost of $14.61 per share, with a total value of $249,465.75. Following the completion of the purchase, the chairman now owns 186,973 shares in the company, valued at $2,731,675.53. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Joseph J. Tabacco, Jr. bought 12,400 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was acquired at an average cost of $16.01 per share, with a total value of $198,524.00. Following the completion of the purchase, the director now owns 97,458 shares of the company’s stock, valued at approximately $1,560,302.58. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 40,095 shares of company stock worth $596,237. 1.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. CWM LLC purchased a new position in shares of Beyond in the second quarter worth about $46,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Beyond during the first quarter valued at about $66,000. Lazard Asset Management LLC acquired a new stake in shares of Beyond during the first quarter valued at about $70,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Beyond during the first quarter valued at about $71,000. Finally, O Keefe Stevens Advisory Inc. acquired a new stake in shares of Beyond during the second quarter valued at about $152,000. Hedge funds and other institutional investors own 76.30% of the company’s stock.

Beyond Price Performance

BYON stock traded down $0.04 during trading on Friday, reaching $13.41. The company had a trading volume of 474,155 shares, compared to its average volume of 1,684,972. Beyond has a 52 week low of $11.95 and a 52 week high of $39.27. The business has a 50 day moving average of $15.19 and a 200 day moving average of $23.29. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.24 and a quick ratio of 1.19.

Beyond (NYSE:BYON) last announced its quarterly earnings data on Monday, May 6th. The company reported ($1.22) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.30). Beyond had a negative net margin of 23.67% and a negative return on equity of 32.05%. The firm had revenue of $382.28 million for the quarter, compared to the consensus estimate of $389.36 million. During the same quarter in the previous year, the business earned ($0.10) earnings per share. The firm’s revenue for the quarter was up .3% on a year-over-year basis. As a group, research analysts anticipate that Beyond will post -3.1 earnings per share for the current year.

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.