Traders Purchase Large Volume of Call Options on Beyond (NYSE:BYON)

Beyond, Inc. (NYSE:BYON - Get Free Report) was the target of some unusual options trading activity on Friday. Investors acquired 11,447 call options on the company. This represents an increase of 77% compared to the average daily volume of 6,472 call options.

Beyond Price Performance

NYSE BYON traded up $0.73 on Friday, reaching $7.73. The company had a trading volume of 5,259,667 shares, compared to its average volume of 2,338,762. The stock has a market capitalization of $355.71 million, a PE ratio of -1.05 and a beta of 3.74. Beyond has a 12 month low of $4.45 and a 12 month high of $37.10. 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 firm's 50 day moving average price is $5.77 and its 200 day moving average price is $8.62.

Insider Buying and Selling at Beyond

In other Beyond news, Chairman Marcus Lemonis acquired 156,985 shares of the stock in a transaction dated Sunday, October 27th. The shares were purchased at an average price of $6.37 per share, for a total transaction of $999,994.45. Following the purchase, the chairman now directly owns 365,530 shares of the company's stock, valued at approximately $2,328,426.10. This trade represents a 75.28 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.20% of the company's stock.

Institutional Investors Weigh In On Beyond

Large investors have recently made changes to their positions in the company. 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 grew its position in Beyond by 14.4% in the third quarter. Fortis Group Advisors LLC now owns 13,689 shares of the company's stock worth $138,000 after acquiring an additional 1,724 shares in the last quarter. Franklin Resources Inc. increased its stake in Beyond by 12.8% during the third quarter. Franklin Resources Inc. now owns 21,299 shares of the company's stock worth $217,000 after acquiring an additional 2,411 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Beyond by 25.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,127 shares of the company's stock valued at $152,000 after acquiring an additional 3,059 shares during the period. Finally, Sunbelt Securities Inc. bought a new stake in shares of Beyond in the 2nd quarter worth about $47,000. 76.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BYON has been the subject of several analyst reports. Bank of America lowered Beyond from a "neutral" rating to an "underperform" rating and reduced their price objective for the stock from $12.50 to $6.00 in a research note on Friday, October 25th. 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. Needham & Company LLC reiterated a "buy" rating and set a $13.00 price objective on shares of Beyond in a research note on Wednesday, October 23rd. Maxim Group decreased their target price on shares of Beyond from $33.00 to $26.00 and set a "buy" rating on the stock in a research note on Friday, October 25th. Finally, Argus lowered shares of Beyond from a "hold" rating to a "sell" rating in a research report on Wednesday, December 18th. Two equities 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 company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $16.38.

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.