Bed Bath & Beyond Inc has been subjected to a lot of reports by equities’ analysts. The company has gained a lot of traction following the Redditors’ action with the shorted stocks. Starting from AMC to Bed Bath & Beyond, several stocks have seen a continuous price hike these last few days. And the most interesting part is that it is going against analysts’ ratings on the stocks.
Bed Bath & Beyond recently received two lowered ratings from analysts at Wedbush and Baird. According to the latest sources, the stock prices of the company rallied past $50 recently. This was the ticking point when several analysts decided to lower the rating of this home décor retail company.
Bed Bath & Beyond Stocks Down To A “Neutral” Rating
The company was also subject to a number of large trades on Monday during the options trade. Expert analysts are of the opinion that Bed Bath & Beyond the situation can be tricky because large trades are mostly done by institutional investors.
This company is growing at a rapid pace along with other short stocks. But the company still has a long way to go if it wants to make a 2021 turnaround. The previous year was not so good for Bed Bath & Beyond as the company reported a drop of 2.6% with a revenue loss of approximately $137.2 million.
For now, the BBBY stocks like GME stocks seem to be caught up in a frenzy of buying and holding thanks to the WallStreetBets Redditors. But on the other hand, Wedbush downgraded the stock’s rating from an earlier “Outperform” rating to a “Neutral” rating. They lifted the target price to $33from $27. Baird analysts followed in Wedbush’s footsteps and gave a similar “Neutral” rating to Bed Bath & Beyond stocks, down from an earlier “Outperform” stock. The further altered the target price from an earlier $30 to $37 presently.