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

Shares of Falcon’s Beyond Global, Inc. (NASDAQ:FBYD) gapped down before the market opened on Tuesday . The stock had previously closed at $16.56, but opened at $15.73. Falcon’s Beyond Global shares last traded at $15.65, with a volume of 22,678 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on FBYD shares. Wall Street Zen upgraded shares of Falcon’s Beyond Global from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Weiss Ratings raised shares of Falcon’s Beyond Global from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, May 15th. One equities research 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 Price Performance

The stock’s 50-day moving average price is $11.94 and its 200 day moving average price is $11.18. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of 75.43 and a beta of -2.79. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.25.

Falcon’s Beyond Global (NASDAQ:FBYD) last announced its quarterly earnings data on Monday, March 30th. The company reported ($0.01) EPS for the quarter. The company had revenue of $6.59 million for the quarter. Falcon’s Beyond Global had a net margin of 51.31% and a negative return on equity of 8.25%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FBYD. Vanguard Group Inc. raised its position in Falcon’s Beyond Global by 434.9% in the third quarter. Vanguard Group Inc. now owns 439,813 shares of the company’s stock worth $4,847,000 after purchasing an additional 357,589 shares in the last quarter. Invesco Ltd. acquired a new position in Falcon’s Beyond Global in the fourth quarter worth about $2,555,000. Geode Capital Management LLC raised its position in Falcon’s Beyond Global by 86.2% in the fourth quarter. Geode Capital Management LLC now owns 317,709 shares of the company’s stock worth $4,770,000 after purchasing an additional 147,056 shares in the last quarter. State Street Corp raised its position in Falcon’s Beyond Global by 648.9% in the fourth quarter. State Street Corp now owns 153,824 shares of the company’s stock worth $2,309,000 after purchasing an additional 133,284 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. acquired a new position in Falcon’s Beyond Global in the fourth quarter worth about $658,000. Institutional investors and hedge funds 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.