Falcon’s Beyond Global (NASDAQ:FBYD) Stock Price Up 4.9% – Here’s Why

Shares of Falcon’s Beyond Global, Inc. (NASDAQ:FBYD) shot up 4.9% during trading on Tuesday . The stock traded as high as $13.00 and last traded at $12.52. 18,971 shares changed hands during mid-day trading, a decline of 33% from the average session volume of 28,227 shares. The stock had previously closed at $11.93.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on FBYD shares. Weiss Ratings upgraded shares of Falcon’s Beyond Global from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday. Wall Street Zen upgraded Falcon’s Beyond Global to a “hold” rating in a report on Saturday, October 25th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Falcon’s Beyond Global currently has a consensus rating of “Hold”.

Falcon’s Beyond Global Trading Up 10.1%

The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 32.66. The company has a market capitalization of $1.59 billion, a P/E ratio of -109.42 and a beta of -1.49. The firm’s 50-day moving average price is $11.78 and its 200 day moving average price is $8.47.

Falcon’s Beyond Global (NASDAQ:FBYD) last released its quarterly earnings results on Friday, November 14th. The company reported ($0.13) earnings per share (EPS) for the quarter. The company had revenue of $4.05 million for the quarter. Falcon’s Beyond Global had a net margin of 10.57% and a negative return on equity of 6.80%.

Hedge Funds Weigh In On Falcon’s Beyond Global

Institutional investors have recently modified their holdings of the business. Bank of America Corp DE raised its stake in shares of 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 purchasing an additional 3,764 shares during the period. Clear Street Group Inc. bought a new position in shares of Falcon’s Beyond Global in the third quarter valued at approximately $53,000. HighTower Advisors LLC purchased a new position in shares of Falcon’s Beyond Global during the 1st quarter valued at $124,000. AllGen Financial Advisors Inc. bought a new position in Falcon’s Beyond Global in the 1st quarter worth about $209,000. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Falcon’s Beyond Global by 21.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 50,739 shares of the company’s stock worth $559,000 after purchasing an additional 9,082 shares during the last quarter. 38.88% of the stock is owned by institutional investors.

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.