Traders Buy High Volume of Call Options on Beyond (NYSE:BYON)

Beyond, Inc. (NYSE:BYON - Get Free Report) was the recipient of unusually large options trading on Monday. Traders bought 9,415 call options on the company. This represents an increase of approximately 54% compared to the typical daily volume of 6,101 call options.

Insiders Place Their Bets

In other news, Chairman Marcus Lemonis acquired 156,985 shares of the business's stock in a transaction that occurred on Sunday, October 27th. The stock was acquired at an average price of $6.37 per share, with a total value of $999,994.45. Following the completion of the transaction, the chairman now directly 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate 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 business. JPMorgan Chase & Co. increased its position in Beyond by 34.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 389,694 shares of the company's stock valued at $3,928,000 after acquiring an additional 100,335 shares during the period. Franklin Resources Inc. grew its stake in shares of Beyond by 12.8% in the third quarter. Franklin Resources Inc. now owns 21,299 shares of the company's stock worth $217,000 after purchasing an additional 2,411 shares during the last quarter. Second Line Capital LLC increased its holdings in Beyond by 25.0% in the third quarter. Second Line Capital LLC now owns 151,053 shares of the company's stock valued at $1,523,000 after purchasing an additional 30,196 shares during the period. Y Intercept Hong Kong Ltd bought a new position in Beyond during the 3rd quarter worth $107,000. Finally, State Street Corp lifted its holdings in Beyond by 0.9% during the 3rd quarter. State Street Corp now owns 1,016,563 shares of the company's stock worth $10,247,000 after buying an additional 8,580 shares during the period. 76.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BYON. Needham & Company LLC reaffirmed a "buy" rating and set a $13.00 price target on shares of Beyond in a report on Wednesday, October 23rd. Bank of America downgraded Beyond from a "neutral" rating to an "underperform" rating and reduced their target price for the company from $12.50 to $6.00 in a report on Friday, October 25th. Piper Sandler decreased their price target on Beyond from $14.00 to $8.00 and set a "neutral" rating on the stock in a research note on Friday, October 25th. 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 report on Friday, October 25th. Finally, Barclays decreased their target price on Beyond from $14.00 to $8.00 and set an "equal weight" rating on the stock in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $16.50.

Beyond Trading Up 9.5 %

Beyond stock traded up $0.54 during trading hours on Monday, hitting $6.24. The stock had a trading volume of 4,575,839 shares, compared to its average volume of 4,171,296. The stock has a market cap of $287.33 million, a price-to-earnings ratio of -0.84 and a beta of 3.74. 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 business's 50 day simple moving average is $5.81 and its 200-day simple moving average is $9.20. Beyond has a one year low of $4.45 and a one year high of $37.10.

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.