Bed Bath & Beyond Inc. [BBBY] Revenue clocked in at $6.21 billion, up 45.82% YTD: What’s Next?

Bed Bath & Beyond Inc. [NASDAQ: BBBY] traded at a low on 01/13/23, posting a -30.15 loss after which it closed the day’ session at $3.66. The company report on January 10, 2023 that BED BATH & BEYOND INC. REPORTS FISCAL 2022 THIRD QUARTER RESULTS.

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Bed Bath & Beyond Inc. (Nasdaq: BBBY) today reported financial results for the third quarter of fiscal 2022 ended November 26, 2022.

Sue Gove, President & CEO of Bed Bath & Beyond Inc. said, “At the beginning of the third quarter, we initiated a turnaround plan anchored on serving our loyal customers, following a period when our merchandise and strategy had veered away from their preferences. Although we moved quickly and effectively to change the assortment and other merchandising and marketing strategies, inventory was constrained and we did not achieve our goals. We will continue to rebalance our assortment towards National Brands and refine our Owned Brands mix to reflect the deep understanding of our customer, along with the selection and value only we can offer in the Home and Baby markets.  We are actively pursuing higher in-stock levels to meet proven demand.”.

The results of the trading session contributed to over 222892969 shares changing hands. Over the past one week, the price volatility of Bed Bath & Beyond Inc. stands at 41.99% while the volatility over the past one month is 17.43%.

The market cap for BBBY stock reached $614.81 million, with 117.32 million shares outstanding and 115.07 million shares in the current float. Compared to the average trading volume of 24.30M shares, BBBY reached a trading volume of 222892969 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Bed Bath & Beyond Inc. [BBBY]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BBBY shares is $1.74 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BBBY stock is a recommendation set at 3.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Odeon have made an estimate for Bed Bath & Beyond Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on September 30, 2022. The new note on the price target was released on September 01, 2022, representing the official price target for Bed Bath & Beyond Inc. stock. Previously, the target price had yet another raise to $5, while Wedbush analysts kept a Underperform rating on BBBY stock.

The Average True Range (ATR) for Bed Bath & Beyond Inc. is set at 0.65, with the Price to Sales ratio for BBBY stock in the period of the last 12 months amounting to 0.10.

How has BBBY stock performed recently?

Bed Bath & Beyond Inc. [BBBY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 179.39. With this latest performance, BBBY shares gained by 24.07% in over the last four-week period, additionally sinking by -26.21% over the last 6 months – not to mention a drop of -73.52% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BBBY stock in for the last two-week period is set at 55.91, with the RSI for the last a single of trading hit 57.82, and the three-weeks RSI is set at 53.36 for Bed Bath & Beyond Inc. [BBBY]. The present Moving Average for the last 50 days of trading for this stock 3.15, while it was recorded at 3.22 for the last single week of trading, and 7.80 for the last 200 days.

Bed Bath & Beyond Inc. [BBBY]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Bed Bath & Beyond Inc. [BBBY] shares currently have an operating margin of -1.57 and a Gross Margin at +33.31. Bed Bath & Beyond Inc.’s Net Margin is presently recorded at -7.11.

Return on Equity for this stock declined to -77.13, with Return on Assets sitting at -9.66.

Bed Bath & Beyond Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.20 and a Current Ratio set at 1.00.

Insider trade positions for Bed Bath & Beyond Inc. [BBBY]

There are presently around $172 million, or 54.50% of BBBY stock, in the hands of institutional investors. The top three institutional holders of BBBY stocks are: BLACKROCK INC. with ownership of 11,485,702, which is approximately -8.199% of the company’s market cap and around 1.50% of the total institutional ownership; VANGUARD GROUP INC, holding 8,205,843 shares of the stock with an approximate value of $30.03 million in BBBY stocks shares; and STATE STREET CORP, currently with $11.32 million in BBBY stock with ownership of nearly -6.382% of the company’s market capitalization.

Positions in Bed Bath & Beyond Inc. stocks held by institutional investors increased at the end of January and at the time of the January reporting period, where 83 institutional holders increased their position in Bed Bath & Beyond Inc. [NASDAQ:BBBY] by around 5,376,617 shares. Additionally, 138 investors decreased positions by around 22,923,663 shares, while 37 investors held positions by with 18,715,049 shares. The mentioned changes placed institutional holdings at 47,015,329 shares, according to the latest SEC report filing. BBBY stock had 40 new institutional investments in for a total of 2,889,305 shares, while 56 institutional investors sold positions of 2,950,927 shares during the same period.

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