Falcon’s Beyond Global (NASDAQ:FBYD) Trading Down 6.9% – Here’s Why

Falcon’s Beyond Global, Inc. (NASDAQ:FBYD)’s share price traded down 6.9% during trading on Wednesday . The company traded as low as $10.50 and last traded at $10.4850. 35,909 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 120,448 shares. The stock had previously closed at $11.26.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded Falcon’s Beyond Global from a “hold (c-)” rating to a “sell (d)” rating in a report on Friday, August 14th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Falcon’s Beyond Global has an average rating of “Sell”.

Falcon’s Beyond Global Stock Performance

The business’s 50 day simple moving average is $12.75 and its two-hundred day simple moving average is $11.54. The firm has a market capitalization of $1.21 billion, a PE ratio of -99.90 and a beta of -2.57. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.25.

Falcon’s Beyond Global (NASDAQ:FBYD) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.01) EPS for the quarter. Falcon’s Beyond Global had a negative return on equity of 50.04% and a negative net margin of 8.60%.The firm had revenue of $5.62 million during the quarter.

Institutional Trading of Falcon’s Beyond Global

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Falcon’s Beyond Global by 434.9% during the third quarter. Vanguard Group Inc. now owns 439,813 shares of the company’s stock valued at $4,847,000 after buying an additional 357,589 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Falcon’s Beyond Global by 8,008.5% during the 3rd quarter. Bank of America Corp DE now owns 3,811 shares of the company’s stock worth $42,000 after acquiring an additional 3,764 shares during the last quarter. Strs Ohio bought a new stake in shares of Falcon’s Beyond Global during the 4th quarter valued at $39,000. Global Retirement Partners LLC purchased a new stake in shares of Falcon’s Beyond Global in the 4th quarter worth $30,000. Finally, Geode Capital Management LLC increased its stake in shares of Falcon’s Beyond Global by 86.2% in the 4th quarter. Geode Capital Management LLC now owns 317,709 shares of the company’s stock worth $4,770,000 after purchasing an additional 147,056 shares in the last quarter. 38.88% of the stock is currently owned by institutional investors.

About Falcon’s Beyond Global

Falcon’s Beyond Global, Inc is an experiential entertainment development enterprise. It connects the world by bringing stories to life through theme parks, resorts, animation, consumer products, gaming, and movies. The company propels intellectual property activations concurrently across physical and digital experiences through three core business units. Falcon’s Creative Group is a themed entertainment and master planning firm. Falcon’s Beyond Destinations develops, owns, and operates global entertainment destinations from resorts, theme parks, and attractions to retail, dining and location-based entertainment venues.