Beyond Meat, Inc. (NASDAQ:BYND) Receives Average Recommendation of “Strong Sell” from Analysts

Beyond Meat, Inc. (NASDAQ:BYND) has been assigned a consensus rating of “Strong Sell” from the nine research firms that are currently covering the company, MarketBeat reports. Six analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $5.56.

A number of research analysts recently issued reports on the company. TD Cowen dropped their price target on Beyond Meat from $10.00 to $6.00 and set a “sell” rating on the stock in a research note on Wednesday, April 17th. BMO Capital Markets dropped their price target on Beyond Meat from $10.00 to $9.00 and set a “market perform” rating on the stock in a research note on Thursday, May 9th. Canaccord Genuity Group dropped their price target on Beyond Meat from $9.00 to $7.00 and set a “hold” rating on the stock in a research note on Friday, May 10th. The Goldman Sachs Group dropped their price target on Beyond Meat from $4.00 to $3.50 and set a “sell” rating on the stock in a research note on Thursday, May 9th. Finally, Mizuho dropped their price target on Beyond Meat from $7.00 to $6.00 and set an “underperform” rating on the stock in a research note on Monday, April 22nd.

Hedge Funds Weigh In On Beyond Meat

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Beyond Meat by 3.0% in the first quarter. Vanguard Group Inc. now owns 5,351,777 shares of the company’s stock worth $44,313,000 after acquiring an additional 155,653 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Beyond Meat in the first quarter worth $902,000. Arbor Capital Management Inc. ADV acquired a new position in shares of Beyond Meat in the fourth quarter worth $752,000. SG Americas Securities LLC raised its holdings in shares of Beyond Meat by 312.6% in the first quarter. SG Americas Securities LLC now owns 102,947 shares of the company’s stock worth $852,000 after acquiring an additional 77,996 shares during the last quarter. Finally, Cowen AND Company LLC acquired a new position in shares of Beyond Meat in the fourth quarter worth $623,000. 52.48% of the stock is owned by institutional investors and hedge funds.

Beyond Meat Stock Performance

Shares of NASDAQ BYND opened at $6.75 on Tuesday. Beyond Meat has a fifty-two week low of $5.58 and a fifty-two week high of $19.25. The firm has a market capitalization of $437.97 million, a PE ratio of -1.31 and a beta of 2.43. The stock’s 50-day simple moving average is $7.11 and its 200-day simple moving average is $7.54.

Beyond Meat (NASDAQ:BYND) last issued its earnings results on Wednesday, May 8th. The company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.05). The firm had revenue of $75.60 million during the quarter, compared to analyst estimates of $75.24 million. During the same quarter in the previous year, the business earned ($0.92) earnings per share. The business’s quarterly revenue was down 18.0% on a year-over-year basis. On average, sell-side analysts forecast that Beyond Meat will post -2.11 earnings per share for the current fiscal year.

About Beyond Meat

Beyond Meat, Inc, a plant-based meat company, develops, manufactures, markets, and sells plant-based meat products in the United States and internationally. The company sells a range of plant-based meat products across the platforms of beef, pork, and poultry. It sells its products through grocery, mass merchandiser, club stores, and natural retailer channels, as well as various food-away-from-home channels, including restaurants, foodservice outlets, and schools.