Falcon’s Beyond Global (NASDAQ:FBYD) Shares Down 11.8% – Here’s Why

Falcon’s Beyond Global, Inc. (NASDAQ:FBYD) shares fell 11.8% during mid-day trading on Friday. The stock traded as low as $7.33 and last traded at $7.2990. Approximately 27,622 shares traded hands during trading, a decline of 77% from the average session volume of 121,111 shares. The stock had previously closed at $8.28.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on FBYD shares. Wall Street Zen lowered Falcon’s Beyond Global from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. Weiss Ratings downgraded Falcon’s Beyond Global from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, September 16th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company has a consensus rating of “Sell”.

Falcon’s Beyond Global Stock Down 16.2%

The stock has a market cap of $841.54 million, a price-to-earnings ratio of -69.36 and a beta of -2.51. The stock has a 50 day simple moving average of $8.43 and a 200 day simple moving average of $11.82. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.25.

Falcon’s Beyond Global (NASDAQ:FBYD) last posted its earnings results on Thursday, August 13th. The company reported ($0.01) EPS for the quarter. The business had revenue of $5.62 million for 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

An institutional investor recently raised its stake in Falcon’s Beyond Global stock. State Street Corp boosted 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 institutional investor owned 399,673 shares of the company’s stock after acquiring an additional 187,164 shares during the period. State Street Corp owned 0.33% of Falcon’s Beyond Global worth $7,162,000 as of its most recent SEC filing. 38.88% of the stock is currently owned by institutional investors.

Falcon’s Beyond Global Company Profile

Falcon’s Beyond Global, Inc is an entertainment and technology company that develops immersive destinations, intellectual property and branded experiences. Its activities span theme parks, resorts, attractions, media, merchandise and other forms of location-based entertainment, with a focus on combining storytelling, creative design and technology.

The company operates through businesses that develop and manage destination entertainment projects, create and license original characters and brands, and produce content and experiences for consumers.