Beyond, Inc. (NYSE:BYON) Sees Large Growth in Short Interest

Beyond, Inc. (NYSE:BYON) was the target of a significant growth in short interest in 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. Based on an average trading volume of 2,230,000 shares, the days-to-cover ratio is presently 3.3 days. Approximately 16.3% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Barclays reduced their target price on shares of Beyond from $14.00 to $8.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th. 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 report on Friday, October 25th. Jefferies Financial Group cut their price target on Beyond from $14.00 to $11.00 and set a “hold” rating for the company in a report on Monday, September 23rd. Piper Sandler decreased their price objective on Beyond from $14.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Finally, Needham & Company LLC restated a “buy” rating and issued a $13.00 target price on shares of Beyond in a research note on Wednesday, October 23rd. One research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $16.50.

Insider Buying and Selling

In related news, Chairman Marcus Lemonis purchased 156,985 shares of the stock in a transaction that occurred on Sunday, October 27th. The shares were bought 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 of the company’s stock, valued at $2,328,426.10. This trade represents a 75.28 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Beyond

Several hedge funds have recently made changes to their positions in the business. Tidal Investments LLC bought a new stake in Beyond in the first quarter valued at $33,599,000. Dimensional Fund Advisors LP purchased a new position in shares of Beyond during the second quarter valued at about $9,538,000. Refined Wealth Management bought a new position in Beyond in the second quarter worth about $4,201,000. Royce & Associates LP lifted its holdings in Beyond by 57.8% in the third quarter. Royce & Associates LP now owns 845,977 shares of the company’s stock worth $8,527,000 after buying an additional 309,810 shares during the period. Finally, ProShare Advisors LLC bought a new stake in Beyond during the 2nd quarter valued at approximately $3,800,000. 76.30% of the stock is owned by hedge funds and other institutional investors.

Beyond Trading Down 1.5 %

Shares of Beyond stock traded down $0.09 during trading on Friday, reaching $6.09. 1,866,571 shares of the stock were exchanged, compared to its average volume of 1,967,528. Beyond has a 1 year low of $5.95 and a 1 year high of $37.10. The firm has a market cap of $280.44 million, a price-to-earnings ratio of -0.82 and a beta of 3.70. The company has a quick ratio of 0.91, a current ratio of 0.97 and a debt-to-equity ratio of 0.17. The stock’s fifty day moving average is $9.00 and its 200 day moving average is $12.04.

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.