Falcon’s Beyond Global (NASDAQ:FBYD) Shares Up 7% – What’s Next?

Shares of Falcon’s Beyond Global, Inc. (NASDAQ:FBYD) shot up 7% during mid-day trading on Friday. The stock traded as high as $7.10 and last traded at $7.2250. 22,891 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 124,313 shares. The stock had previously closed at $6.75.

Analyst Upgrades and Downgrades

FBYD has been the subject of several research analyst reports. 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 downgraded shares of Falcon’s Beyond Global from a “hold” rating to a “sell” rating in a report on Saturday, August 29th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Falcon’s Beyond Global Trading Up 8.6%

The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a market cap of $888.84 million, a P/E ratio of -73.30 and a beta of -2.60. The firm’s fifty day moving average price is $9.14 and its two-hundred day moving average price is $11.81.

Falcon’s Beyond Global (NASDAQ:FBYD) last posted its earnings results 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 business had revenue of $5.62 million for the quarter.

Hedge Funds Weigh In On Falcon’s Beyond Global

A hedge fund recently raised its stake in Falcon’s Beyond Global stock. State Street Corp grew its position in shares of Falcon’s Beyond Global, Inc. (NASDAQ:FBYD) by 88.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 399,673 shares of the company’s stock after acquiring an additional 187,164 shares during the period. State Street Corp owned about 0.33% of Falcon’s Beyond Global worth $7,162,000 as of its most recent SEC filing. 38.88% of the stock is owned by institutional investors.

About Falcon’s Beyond Global

Falcon’s Beyond Global, Inc is an entertainment and development company focused on creating immersive attractions, destination resorts and branded experiences. The company combines storytelling, technology and intellectual property to develop theme parks and other location-based entertainment offerings.

Through its businesses, Falcon’s Beyond provides attraction design, master planning, creative development and operational services for theme parks and resorts. Its activities also include developing entertainment brands and intellectual property for use across attractions, hospitality, consumer products, media and other forms of experiential entertainment.

The company’s portfolio includes the Katmandu brand, which features themed attractions, parks and resort experiences.