On April 25, 2023, Bed Bath & Beyond Inc. received a delisting notice from The Nasdaq Stock Market LLC’s Listing Qualifications Department. The information stated that the company’s common stock would be delisted due to its inability to comply with Nasdaq’s listing requirements. This decision was made after the company filed for voluntary Chapter 11 protection on April 23, 2023. As a result, the extraordinary shareholders meeting scheduled for May 9, 2023, has been canceled.
Bed Bath & Beyond Inc. is a well-known omnichannel retailer offering a vast selection of Home, Baby, Beauty, and Wellness products. The company operates retail stores in Mexico under the name Bed Bath & Beyond and online platforms at bedbathandbeyond.com and buybuybaby.com. Unfortunately, the company’s failure to comply with Nasdaq’s listing requirements has led to the delisting of its common stock.
BBBY Stock Update: Trading Volume and Market Cap on April 25, 2023 in the Retail Trade Sector
On April 25, 2023, BBBY stock opened at 0.19 and had a trading volume of 12,604,453 shares. The market cap for BBBY was $136.9M. The P/E ratio for BBBY is currently not measurable (NM), while the price/sales ratio is 0.20 and the price/book ratio is 0.14. Kirkland’s Inc saw a slight increase in its stock price, while Container Store Group Inc saw a decrease of 5.93%. BBBY operates in the retail trade sector and specializes in specialty stores. The company’s corporate headquarters are located in Union, New Jersey.
Bed Bath & Beyond Inc Reports Negative Earnings. Still, Analysts Remain Optimistic with +899.50% Target Price Increase
On April 25, 2023, Bed Bath & Beyond Inc (BBBY) reported its earnings for the current quarter per share of -$0.91 and sales of $1.4 billion. This news was not well-received by investors, as the stock price fell sharply in the days following the announcement. However, analysts remain optimistic about the company’s future, with a median target price of $2.00, representing a +899.50% increase from the current price of $0.20. This target price is based on the projections of three analysts who have offered 12-month price forecasts for BBBY.