Maxim Group Cuts Beyond (NYSE:BYON) Price Target to $16.00

Beyond (NYSE:BYON) had its price target decreased by equities research analysts at Maxim Group from $26.00 to $16.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Maxim Group’s target price points to a potential upside of 137.21% from the stock’s previous close.

BYON has been the topic of several other research reports. Argus lowered Beyond from a “hold” rating to a “sell” rating in a research note on Wednesday, December 18th. Wedbush restated an “outperform” rating and issued a $15.00 target price on shares of Beyond in a research note on Wednesday, February 5th. Finally, Barclays dropped their target price on shares of Beyond from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, January 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Beyond currently has an average rating of “Hold” and an average target price of $10.86.

Beyond Price Performance

Shares of NYSE:BYON traded down $0.69 during midday trading on Wednesday, reaching $6.75. 4,126,307 shares of the company’s stock were exchanged, compared to its average volume of 3,526,114. 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 company’s 50 day simple moving average is $6.84 and its two-hundred day simple moving average is $7.92. Beyond has a 12 month low of $4.45 and a 12 month high of $37.10. The firm has a market capitalization of $310.58 million, a PE ratio of -0.91 and a beta of 3.81.

Beyond (NYSE:BYON) last announced its quarterly earnings results on Monday, February 24th. The company reported ($0.91) EPS for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.17). Beyond had a negative return on equity of 69.32% and a negative net margin of 22.82%. The business had revenue of $303.15 million for the quarter, compared to the consensus estimate of $337.96 million. Equities research analysts expect that Beyond will post -3.75 earnings per share for the current fiscal year.

Institutional Trading of Beyond

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tidal Investments LLC grew its holdings in Beyond by 140.4% during the 4th quarter. Tidal Investments LLC now owns 2,406,746 shares of the company’s stock worth $11,865,000 after acquiring an additional 1,405,770 shares during the last quarter. Two Sigma Advisers LP raised its stake in shares of Beyond by 362.8% in the fourth quarter. Two Sigma Advisers LP now owns 901,500 shares of the company’s stock worth $4,444,000 after acquiring an additional 706,700 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Beyond by 654.5% during the fourth quarter. BNP Paribas Financial Markets now owns 668,415 shares of the company’s stock worth $3,295,000 after purchasing an additional 579,826 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Beyond by 390.0% during the fourth quarter. Federated Hermes Inc. now owns 728,158 shares of the company’s stock valued at $3,590,000 after purchasing an additional 579,565 shares during the last quarter. Finally, Deutsche Bank AG grew its stake in shares of Beyond by 1,162.8% during the fourth quarter. Deutsche Bank AG now owns 480,424 shares of the company’s stock valued at $2,368,000 after purchasing an additional 442,380 shares during the last quarter. 76.30% of the stock is currently owned by institutional investors and hedge funds.

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.