Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     

BED BATH & BEYOND INC.

(BBBY)
  Report
Real-time Estimate Cboe BZX  -  12:09 2022-09-30 pm EDT
6.235 USD   +0.73%
11:04aOdeon Capital Upgrades Bed Bath & Beyond to Hold From Sell, Maintains $7.50 Price Target
MT
06:37aSocial Buzz: Wallstreetbets Stocks Up Premarket, With Exception of Nike; Micron Technology Poised to Rise
MT
06:22aBED BATH & BEYOND INC MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (form 10-Q)
AQ
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Bed Bath & Beyond jumps as retail investors chase highly shorted stocks

08/08/2022 | 11:01am EDT
FILE PHOTO: A shopping cart is seen at a Bed Bath & Beyond store in Manhattan, New York City

(Reuters) - Shares of Bed Bath & Beyond Inc jumped 39.0% on Monday as retail investors flocked to the highly shorted stock of the home goods maker, likely piling pressure on those with bearish bets on it.

"We do believe there is currently a short squeeze playing out in BBBY," said Evan Niu, analyst at Ortex, adding that 45% of the firm's free float was shorted.

A jump in the price of shorted shares can force bearish investors to buyback shares at a higher price to limit losses. The rush of demand from short sellers looking to exit bets pushes rising stock prices even higher, resulting in a short squeeze.

The stock was last up at $11.33, a near three-month high, looking to extend its gains for the ninth straight session. If gains hold, Bed Bath & Beyond's market value is set to double to over $900 million since the rally began on July 27.

Bed Bath & Beyond was the most bought stock among retail brokerage Fidelity's customers with more than three buy orders for every sell order. It was also the most actively traded stock across U.S. exchanges with 54.5 million shares changing hands by 10:18 a.m. ET (1418 GMT).

"These types of extremely large moves are outliers but they do happen time and time again," said Adam Sarhan, chief executive officer at 50 Park Investments.

"But most of the time these exaggerated moves are short-lived and the stocks tend to go back down."

The company in June replaced Chief Executive Officer Mark Tritton as part of a management shake-up as it reported a 25% slump in first-quarter net sales.

GameStop and AMC Entertainment, which were at the heart of a retail trading frenzy in early 2021, jumped 8.8% and 13.8%, respectively, rising for at least the sixth straight session.

(Reporting by Medha Singh in Bengaluru; Editing by Shinjini Ganguli)

By Medha Singh


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AMC ENTERTAINMENT HOLDINGS, INC. 2.18% 7.26 Delayed Quote.-58.92%
BED BATH & BEYOND INC. 1.45% 6.3 Delayed Quote.-57.54%
GAMESTOP CORP. -0.86% 25.22 Delayed Quote.-26.38%
All news about BED BATH & BEYOND INC.
11:04aOdeon Capital Upgrades Bed Bath & Beyond to Hold From Sell, Maintains $7.50 Price Targe..
MT
06:37aSocial Buzz: Wallstreetbets Stocks Up Premarket, With Exception of Nike; Mic..
MT
06:22aBED BATH & BEYOND INC MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND ..
AQ
05:50aMarketScreener's World Press Review : September 30, ..
MS
09/29Bed Bath & Beyond Swings to Fiscal Q2 Adjusted Net Loss as Net Sales Fall -- Shares Dec..
MT
09/29Global markets live: Berkshire Hathaway, Tesla, Twitter, Amazon, Sta..
MS
09/29Bed Bath & Beyond Misses Fiscal Second-Quarter Views, Affirms Full-Year Outlook
MT
09/29Central banks are here to save the day
MS
09/29Bed Bath & Beyond 2Q sales fall but meet Street's view
AQ
09/29Sector Update: Consumer Stocks Lean Lower Premarket Thursday
MT
More news
Analyst Recommendations on BED BATH & BEYOND INC.
More recommendations
Financials (USD)
Sales 2023 6 046 M - -
Net income 2023 -936 M - -
Net Debt 2023 1 448 M - -
P/E ratio 2023 -0,54x
Yield 2023 -
Capitalization 496 M 496 M -
EV / Sales 2023 0,32x
EV / Sales 2024 0,45x
Nbr of Employees 32 000
Free-Float 22,6%
Chart BED BATH & BEYOND INC.
Duration : Period :
Bed Bath & Beyond Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BED BATH & BEYOND INC.
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus SELL
Number of Analysts 17
Last Close Price 6,19 $
Average target price 4,08 $
Spread / Average Target -34,0%
EPS Revisions
Managers and Directors
Sue E. Gove Chief Executive Officer & Director
Laura Crossen SVP-Finance, Chief Financial & Accounting Officer
Harriet Edelman Independent Chairman
Andrea M. Weiss Independent Director
Ann L. Yerger Independent Director
Sector and Competitors
1st jan.Capi. (M$)
BED BATH & BEYOND INC.-57.54%496
NITORI HOLDINGS CO., LTD.-27.66%9 744
WILLIAMS-SONOMA, INC.-24.49%8 169
RH-53.26%5 944
DUNELM GROUP PLC-48.41%1 584
BRISCOE GROUP LIMITED-21.55%679