Beyond (NYSE:BYON) Cut to Sell at Argus

Argus cut shares of Beyond (NYSE:BYON) from a hold rating to a sell rating in a research note published on Wednesday, MarketBeat reports.

A number of other analysts have also recently weighed in on BYON. Bank of America cut shares of Beyond from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $12.50 to $6.00 in a research note on Friday, October 25th. Barclays dropped their target price on Beyond from $14.00 to $8.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. Jefferies Financial Group decreased their price target on Beyond from $14.00 to $11.00 and set a “hold” rating on the stock in a research note on Monday, September 23rd. Maxim Group dropped their price objective on Beyond from $33.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Finally, Wedbush reduced their target price on shares of Beyond from $25.00 to $15.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Beyond presently has a consensus rating of “Hold” and a consensus price target of $16.50.

Beyond Stock Down 1.7 %

BYON opened at $5.09 on Wednesday. The company has a market capitalization of $234.37 million, a P/E ratio of -0.69 and a beta of 3.70. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.97 and a quick ratio of 0.91. The firm’s fifty day moving average price is $6.72 and its two-hundred day moving average price is $9.98. Beyond has a fifty-two week low of $4.90 and a fifty-two week high of $37.10.

Insider Buying and Selling

In other news, Chairman Marcus Lemonis acquired 156,985 shares of Beyond stock in a transaction on Sunday, October 27th. The shares were purchased at an average price of $6.37 per share, with a total value of $999,994.45. Following the acquisition, the chairman now owns 365,530 shares in the company, valued at $2,328,426.10. This represents a 75.28 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Beyond

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC bought a new stake in shares of Beyond during the second quarter worth approximately $44,000. CWM LLC bought a new stake in shares of Beyond during the 2nd quarter valued at $46,000. Hollencrest Capital Management acquired a new position in shares of Beyond in the 2nd quarter valued at $46,000. Sunbelt Securities Inc. bought a new position in shares of Beyond in the 2nd quarter worth $47,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Beyond during the second quarter worth $75,000. 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.