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

Falcon’s Beyond Global, Inc. (NASDAQ:FBYD) gapped down before the market opened on Friday. The stock had previously closed at $7.72, but opened at $6.56. Falcon’s Beyond Global shares last traded at $6.7090, with a volume of 4,408 shares changing hands.

Wall Street Analyst Weigh In

FBYD has been the topic of several research reports. Weiss Ratings lowered Falcon’s Beyond Global from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, September 16th. Wall Street Zen cut Falcon’s Beyond Global from a “hold” rating to a “sell” rating in a research report on Saturday, August 29th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company presently has an average rating of “Sell”.

Falcon’s Beyond Global Stock Up 0.2%

The stock’s 50 day moving average is $7.85 and its 200 day moving average is $10.18. The company has a market capitalization of $823.96 million, a PE ratio of -67.85 and a beta of -2.33. 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 data on Thursday, August 13th. The company reported ($0.01) earnings per share for the quarter. Falcon’s Beyond Global had a negative net margin of 8.60% and a negative return on equity of 50.04%. The business had revenue of $5.62 million during the quarter.

Hedge Funds Weigh In On Falcon’s Beyond Global

Several hedge funds have recently made changes to their positions in FBYD. Black Diamond Financial LLC bought a new stake in shares of Falcon’s Beyond Global during the 3rd quarter valued at $85,000. Bank of New York Mellon Corp bought a new stake in shares of Falcon’s Beyond Global during the second quarter valued at about $1,067,000. Finally, State Street Corp lifted its holdings in shares of Falcon’s Beyond Global by 88.1% in the second quarter. State Street Corp now owns 399,673 shares of the company’s stock worth $7,162,000 after buying an additional 187,164 shares in the last quarter. 38.88% of the stock is currently owned by hedge funds and other 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.