Bed Bath & Beyond Short Interest Up 24.6% in May (BBBY)

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Shares of Bed Bath & Beyond (NASDAQ:BBBY) were the target of a significant increase in short interest during the month of May. As of May 30th, there was short interest totalling 9,574,338 shares, an increase of 24.6% from the May 15th total of 7,685,427 shares, Analyst RN reports. Currently, 4.8% of the company’s stock are sold short. Based on an average trading volume of 2,327,087 shares, the days-to-cover ratio is presently 4.1 days.

Several analysts have recently commented on the stock. Analysts at Wolfe Research downgraded shares of Bed Bath & Beyond to an “underperform” rating in a research note on Tuesday. Separately, analysts at Wolfe downgraded shares of Bed Bath & Beyond from a “market perform” rating to an “underperform” rating in a research note on Tuesday. They now have a $55.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Bed Bath & Beyond in a research note on Thursday, April 24th. They now have a $66.00 price target on the stock. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the company. Bed Bath & Beyond currently has an average rating of “Hold” and a consensus target price of $73.10.

Shares of Bed Bath & Beyond (NASDAQ:BBBY) opened at 60.23 on Friday. Bed Bath & Beyond has a 52 week low of $59.94 and a 52 week high of $80.82. The stock has a 50-day moving average of $61. and a 200-day moving average of $67.78. The company has a market cap of $12.134 billion and a price-to-earnings ratio of 12.62.

Bed Bath & Beyond (NASDAQ:BBBY) last issued its quarterly earnings data on Wednesday, April 9th. The company reported $1.60 earnings per share for the quarter, meeting the analysts’ consensus estimate of $1.60. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.22 billion. During the same quarter last year, the company posted $1.68 earnings per share. Bed Bath & Beyond’s revenue was down 5.8% compared to the same quarter last year. On average, analysts predict that Bed Bath & Beyond will post $5.05 earnings per share for the current fiscal year.

Bed Bath & Beyond Inc is a chain of retail stores, operating under the names Bed Bath & Beyond (NASDAQ:BBBY), Christmas Tree Shops (CTS), Harmon and Harmon Face Values (Harmon), buybuy BABY and World Market or Cost Plus World Market (World Market).

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