Falcon’s Beyond Global (NASDAQ:FBYD) Trading Down 6.9% – Time to Sell?

Falcon’s Beyond Global, Inc. (NASDAQ:FBYD) shares traded down 6.9% during mid-day trading on Wednesday . The stock traded as low as $10.50 and last traded at $10.4850. 35,909 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 120,448 shares. The stock had previously closed at $11.26.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded shares of Falcon’s Beyond Global from a “hold (c-)” rating to a “sell (d)” rating in a research report on Friday, August 14th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

Falcon’s Beyond Global Trading Down 6.8%

The company has a market cap of $1.27 billion, a price-to-earnings ratio of -104.91 and a beta of -2.57. The company’s 50 day moving average price is $12.99 and its 200 day moving average price is $11.47. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.66 and a current ratio of 0.66.

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

Hedge Funds Weigh In On Falcon’s Beyond Global

A number of institutional investors have recently modified their holdings of FBYD. Global Retirement Partners LLC acquired a new stake in shares of Falcon’s Beyond Global in the fourth quarter worth $30,000. Strs Ohio bought a new position in Falcon’s Beyond Global in the 4th quarter worth $39,000. Police & Firemen s Retirement System of New Jersey bought a new position in Falcon’s Beyond Global in the 4th quarter worth $47,000. Bank of America Corp DE lifted its position in Falcon’s Beyond Global by 8,008.5% during the 3rd quarter. Bank of America Corp DE now owns 3,811 shares of the company’s stock worth $42,000 after acquiring an additional 3,764 shares during the last quarter. Finally, California State Teachers Retirement System lifted its position in Falcon’s Beyond Global by 633.5% during the 2nd quarter. California State Teachers Retirement System now owns 6,917 shares of the company’s stock worth $124,000 after acquiring an additional 5,974 shares during the last quarter. 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.