Falcon’s Beyond Global (NASDAQ:FBYD) Shares Up 10.4% – Here’s Why

Falcon’s Beyond Global, Inc. (NASDAQ:FBYD)’s stock price was up 10.4% during trading on Wednesday . The company traded as high as $19.50 and last traded at $19.7820. Approximately 201,630 shares were traded during trading, an increase of 66% from the average daily volume of 121,694 shares. The stock had previously closed at $17.92.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FBYD. Weiss Ratings raised shares of Falcon’s Beyond Global from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 25th. Wall Street Zen raised shares of Falcon’s Beyond Global from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold”.

Falcon’s Beyond Global Stock Performance

The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.25. The firm has a market cap of $2.41 billion, a P/E ratio of 94.09 and a beta of -2.84. The business has a fifty day simple moving average of $14.81 and a 200-day simple moving average of $11.22.

Falcon’s Beyond Global (NASDAQ:FBYD) last released its earnings results on Monday, March 30th. The company reported ($0.01) earnings per share for the quarter. Falcon’s Beyond Global had a negative return on equity of 8.25% and a net margin of 51.31%.The business had revenue of $6.58 million during the quarter.

Hedge Funds Weigh In On Falcon’s Beyond Global

Institutional investors and hedge funds have recently made changes to their positions in the business. Global Retirement Partners LLC bought a new stake in shares of Falcon’s Beyond Global in the 4th quarter worth approximately $30,000. Strs Ohio purchased a new position in Falcon’s Beyond Global during the fourth quarter valued at $39,000. Bank of America Corp DE raised its stake in Falcon’s Beyond Global by 8,008.5% during the third quarter. Bank of America Corp DE now owns 3,811 shares of the company’s stock valued at $42,000 after buying an additional 3,764 shares during the last quarter. Police & Firemen s Retirement System of New Jersey bought a new stake in Falcon’s Beyond Global in the fourth quarter worth $47,000. Finally, Clear Street Group Inc. bought a new stake in Falcon’s Beyond Global in the third quarter worth $53,000. Institutional investors own 38.88% of the company’s stock.

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.