Oppenheimer & Co. Inc. Makes New Investment in Beyond, Inc. (NYSE:BYON)

Oppenheimer & Co. Inc. purchased a new position in shares of Beyond, Inc. (NYSE:BYON) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 54,819 shares of the company’s stock, valued at approximately $318,000.

Several other institutional investors have also modified their holdings of BYON. Skandinaviska Enskilda Banken AB publ increased its stake in Beyond by 68.4% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 6,592 shares of the company’s stock worth $32,000 after purchasing an additional 2,678 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Beyond in the fourth quarter valued at approximately $32,000. KLP Kapitalforvaltning AS bought a new stake in shares of Beyond during the fourth quarter worth $39,000. Pingora Partners LLC bought a new stake in shares of Beyond during the fourth quarter worth $41,000. Finally, Hollencrest Capital Management raised its holdings in shares of Beyond by 185.7% during the fourth quarter. Hollencrest Capital Management now owns 10,000 shares of the company’s stock worth $49,000 after acquiring an additional 6,500 shares during the period. Institutional investors own 76.30% of the company’s stock.

Analysts Set New Price Targets

BYON has been the subject of a number of research analyst reports. Barclays reduced their target price on shares of Beyond from $7.00 to $5.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 30th. Wedbush restated an “outperform” rating and issued a $15.00 price target on shares of Beyond in a report on Tuesday, April 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Beyond in a report on Wednesday, April 30th. Finally, Jefferies Financial Group dropped their target price on Beyond from $6.50 to $5.00 and set a “hold” rating on the stock in a research report on Tuesday, April 29th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $9.14.

Beyond Price Performance

Beyond stock opened at $7.63 on Thursday. The company has a market cap of $440.10 million, a price-to-earnings ratio of -1.64 and a beta of 3.25. The firm has a 50-day moving average of $5.83 and a 200-day moving average of $5.89. Beyond, Inc. has a one year low of $3.54 and a one year high of $15.44.

Beyond (NYSE:BYON) last released its earnings results on Monday, April 28th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.67) by $0.25. Beyond had a negative return on equity of 77.61% and a negative net margin of 18.06%. The business had revenue of $231.75 million for the quarter, compared to analyst estimates of $288.13 million. During the same quarter in the prior year, the company posted ($1.22) earnings per share. Beyond’s revenue was down 39.4% on a year-over-year basis. As a group, sell-side analysts expect that Beyond, Inc. will post -3.75 earnings per share for the current 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.