Falcon’s Beyond Global (NASDAQ:FBYD) Shares Gap Up – Here’s Why

Falcon’s Beyond Global, Inc. (NASDAQ:FBYD)’s stock price gapped up before the market opened on Thursday. The stock had previously closed at $6.33, but opened at $6.68. Falcon’s Beyond Global shares last traded at $6.5060, with a volume of 5,148 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Weiss Ratings lowered Falcon’s Beyond Global from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, September 16th. Wall Street Zen lowered Falcon’s Beyond Global from a “hold” rating to a “sell” rating in a research report on Saturday, August 29th. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat, Falcon’s Beyond Global has a consensus rating of “Sell”.

Falcon’s Beyond Global Trading Down 8.1%

The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a market capitalization of $705.25 million, a PE ratio of -58.45 and a beta of -2.33. The stock’s 50-day simple moving average is $7.65 and its 200-day simple moving average is $10.18.

Falcon’s Beyond Global (NASDAQ:FBYD) last posted its earnings results on Thursday, November 12th. The company reported ($0.09) EPS for the quarter. The company had revenue of $7.29 million during the quarter. Falcon’s Beyond Global had a negative return on equity of 50.04% and a negative net margin of 8.60%.

Institutional Trading of Falcon’s Beyond Global

Several institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp raised its position in shares of Falcon’s Beyond Global by 23.2% in the 3rd quarter. State Street Corp now owns 492,451 shares of the company’s stock worth $4,161,000 after acquiring an additional 92,778 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Falcon’s Beyond Global in the second quarter worth $1,067,000. HighTower Advisors LLC bought a new position in Falcon’s Beyond Global in the third quarter worth $179,000. Black Diamond Financial LLC bought a new position in Falcon’s Beyond Global in the third quarter worth $85,000. Finally, Russell Investments Group Ltd. purchased a new position in Falcon’s Beyond Global during the third quarter valued at $58,000. 38.88% of the stock is currently owned by hedge funds and other institutional investors.

Falcon’s Beyond Global Company Profile

Falcon’s Beyond Global is an experiential entertainment company that develops and operates attractions, destinations and related media. Its activities span creative design and consulting, attraction development and technology, and the creation and licensing of entertainment brands and intellectual property. The company’s businesses include Falcon’s Creative Group, which designs themed experiences and attractions, and Falcon’s Attractions, which develops related products and technologies. Through its destinations business, Falcon’s Beyond has brought its Katmandu brand to theme parks, including locations in Punta Cana, Dominican Republic, and Mallorca, Spain.