Short Interest in Beyond, Inc. (NYSE:BYON) Expands By 16.2%

Beyond, Inc. (NYSE:BYON) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 7,370,000 shares, a growth of 16.2% from the October 15th total of 6,340,000 shares. Currently, 16.3% of the company’s stock are short sold. Based on an average daily trading volume, of 2,230,000 shares, the days-to-cover ratio is presently 3.3 days.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Maxim Group dropped their price objective on shares of Beyond from $33.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Needham & Company LLC reissued a “buy” rating and set a $13.00 price objective on shares of Beyond in a research report on Wednesday, October 23rd. Jefferies Financial Group decreased their target price on Beyond from $14.00 to $11.00 and set a “hold” rating on the stock in a report on Monday, September 23rd. Piper Sandler reduced their price target on Beyond from $14.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Finally, Bank of America downgraded Beyond from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $12.50 to $6.00 in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $16.50.

Beyond Price Performance

Shares of BYON traded down $0.09 during midday trading on Friday, hitting $6.09. 1,866,571 shares of the company traded hands, compared to its average volume of 1,967,528. Beyond has a 52 week low of $5.95 and a 52 week high of $37.10. 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 firm has a 50 day moving average of $9.00 and a 200-day moving average of $12.04. The stock has a market cap of $280.44 million, a price-to-earnings ratio of -0.82 and a beta of 3.70.

Insider Buying and Selling at Beyond

In other news, Chairman Marcus Lemonis purchased 156,985 shares of the company’s stock in a transaction dated Sunday, October 27th. The shares were purchased at an average cost of $6.37 per share, for a total transaction of $999,994.45. Following the purchase, the chairman now directly owns 365,530 shares in the company, valued at approximately $2,328,426.10. This represents a 75.28 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.20% of the stock is owned by company insiders.

Institutional Trading of Beyond

Large investors have recently added to or reduced their stakes in the company. SRN Advisors LLC grew its holdings in shares of Beyond by 2.4% in the first quarter. SRN Advisors LLC now owns 44,631 shares of the company’s stock valued at $1,603,000 after purchasing an additional 1,061 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Beyond by 8.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,818 shares of the company’s stock worth $233,000 after buying an additional 1,348 shares during the last quarter. Fortis Group Advisors LLC raised its position in shares of Beyond by 14.4% during the 3rd quarter. Fortis Group Advisors LLC now owns 13,689 shares of the company’s stock valued at $138,000 after buying an additional 1,724 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Beyond in the 1st quarter valued at about $66,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in Beyond in the first quarter worth about $71,000. 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.