Beyond, Inc. (NYSE:BYON) Sees Significant Drop in Short Interest

Beyond, Inc. (NYSE:BYON) was the recipient of a large decrease in short interest in the month of April. As of April 15th, there was short interest totalling 3,870,000 shares, a decrease of 8.5% from the March 31st total of 4,230,000 shares. Based on an average trading volume of 1,410,000 shares, the days-to-cover ratio is presently 2.7 days. Approximately 8.6% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BYON shares. Barclays upped their target price on shares of Beyond from $24.00 to $30.00 and gave the company an “equal weight” rating in a research note on Thursday, February 22nd. Piper Sandler reduced their price target on shares of Beyond from $27.00 to $26.00 and set a “neutral” rating on the stock in a research report on Thursday, April 18th. Compass Point started coverage on shares of Beyond in a report on Thursday, February 1st. They issued a “buy” rating and a $45.00 price objective for the company. Maxim Group started coverage on shares of Beyond in a research note on Wednesday, April 17th. They set a “buy” rating and a $50.00 price objective on the stock. Finally, Wedbush reissued an “outperform” rating and issued a $43.00 target price on shares of Beyond in a report on Friday, April 19th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

Beyond Stock Performance

Shares of BYON traded down $0.85 during midday trading on Monday, hitting $20.64. 2,427,421 shares of the stock traded hands, compared to its average volume of 1,395,232. The company’s 50 day simple moving average is $30.44. The company has a market capitalization of $943.93 million, a price-to-earnings ratio of -3.04 and a beta of 3.76. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 1.45. Beyond has a 1-year low of $13.71 and a 1-year high of $39.27.

Beyond (NYSE:BYON) last posted its earnings results on Tuesday, February 20th. The company reported ($1.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.51). Beyond had a negative net margin of 19.72% and a negative return on equity of 16.92%. The firm had revenue of $384.46 million for the quarter, compared to analyst estimates of $343.10 million. As a group, equities research analysts forecast that Beyond will post -1.85 EPS for the current fiscal year.

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.