Beyond (NYSE:BYON) Cut to Sell at Argus

Argus cut shares of Beyond (NYSE:BYON - Free Report) from a hold rating to a sell rating in a report issued on Wednesday, Marketbeat Ratings reports.

Several other equities research analysts also recently commented on BYON. Wedbush dropped their target price on Beyond from $25.00 to $15.00 and set an "outperform" rating on the stock in a report on Friday, October 25th. Jefferies Financial Group lowered their price target on Beyond from $14.00 to $11.00 and set a "hold" rating for the company in a research report on Monday, September 23rd. Barclays cut their price objective on shares of Beyond from $14.00 to $8.00 and set an "equal weight" rating on the stock in a research report on Tuesday, October 29th. Needham & Company LLC reaffirmed a "buy" rating and issued a $13.00 target price on shares of Beyond in a report on Wednesday, October 23rd. Finally, Bank of America downgraded shares of Beyond from a "neutral" rating to an "underperform" rating and dropped their target price for the stock from $12.50 to $6.00 in a research note on Friday, October 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Beyond presently has an average rating of "Hold" and a consensus target price of $16.50.

Beyond Stock Up 2.8 %

BYON traded up $0.14 during midday trading on Wednesday, reaching $5.12. The company's stock had a trading volume of 4,184,750 shares, compared to its average volume of 2,010,336. Beyond has a 1 year low of $4.90 and a 1 year high of $37.10. The stock's 50-day moving average is $6.92 and its 200-day moving average is $10.09. The firm has a market capitalization of $235.76 million, a price-to-earnings ratio of -0.69 and a beta of 3.70. The company has a current ratio of 0.97, a quick ratio of 0.91 and a debt-to-equity ratio of 0.17.

Insider Transactions at Beyond

In related news, Chairman Marcus Lemonis bought 156,985 shares of the company's stock in a transaction that occurred on Sunday, October 27th. The shares were bought at an average price of $6.37 per share, for a total transaction of $999,994.45. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.20% of the company's stock.

Institutional Investors Weigh In On Beyond

Hedge funds have recently added to or reduced their stakes in the stock. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Beyond during the 2nd quarter valued at about $44,000. Hollencrest Capital Management bought a new stake in Beyond during the second quarter valued at approximately $46,000. CWM LLC purchased a new stake in Beyond during the second quarter valued at approximately $46,000. Sunbelt Securities Inc. bought a new position in Beyond in the second quarter worth approximately $47,000. Finally, Meeder Asset Management Inc. bought a new position in Beyond in the second quarter worth approximately $75,000. 76.30% of the stock is currently owned by hedge funds and other institutional investors.

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.