Falcon’s Beyond Global (NASDAQ:FBYD) Stock Price Down 7.2% – Here’s What Happened

Falcon’s Beyond Global, Inc. (NASDAQ:FBYD) was down 7.2% during mid-day trading on Monday . The company traded as low as $6.36 and last traded at $6.4610. Approximately 16,831 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 124,847 shares. The stock had previously closed at $6.96.

Wall Street Analyst Weigh In

FBYD has been the topic of several research analyst reports. Weiss Ratings cut Falcon’s Beyond Global from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday. Wall Street Zen downgraded 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, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Falcon’s Beyond Global Trading Down 5.2%

The company has a market capitalization of $799.71 million, a PE ratio of -65.94 and a beta of -2.60. 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 company’s fifty day moving average is $9.57 and its 200-day moving average is $11.83.

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

Hedge Funds Weigh In On Falcon’s Beyond Global

A hedge fund recently bought a new stake in Falcon’s Beyond Global stock. Bank of New York Mellon Corp acquired a new position in Falcon’s Beyond Global, Inc. (NASDAQ:FBYD) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 59,538 shares of the company’s stock, valued at approximately $1,067,000. 38.88% of the stock is owned by institutional investors and hedge funds.

Falcon’s Beyond Global Company Profile

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.