Beyond Meat, Inc. (NASDAQ:BYND) Receives $5.36 Consensus PT from Brokerages

Shares of Beyond Meat, Inc. (NASDAQ:BYND) have been given a consensus rating of “Strong Sell” by the eight ratings firms that are currently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $5.36.

Several equities research analysts have recently commented on the company. BMO Capital Markets reduced their target price on Beyond Meat from $9.00 to $6.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. Mizuho reduced their target price on Beyond Meat from $6.00 to $5.00 and set an “underperform” rating for the company in a report on Monday, August 26th.

Beyond Meat Stock Performance

Shares of BYND stock opened at $6.59 on Thursday. Beyond Meat has a 1 year low of $5.13 and a 1 year high of $12.12. The stock has a market cap of $428.61 million, a PE ratio of -1.36 and a beta of 2.26. The business’s fifty day moving average is $6.26 and its 200-day moving average is $6.73.

Beyond Meat (NASDAQ:BYND) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.02). The firm had revenue of $93.19 million during the quarter, compared to the consensus estimate of $87.81 million. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.83) EPS. Equities research analysts predict that Beyond Meat will post -2.12 earnings per share for the current year.

Hedge Funds Weigh In On Beyond Meat

A number of hedge funds have recently modified their holdings of BYND. Banque Cantonale Vaudoise increased its stake in shares of Beyond Meat by 117.4% in the first quarter. Banque Cantonale Vaudoise now owns 3,220 shares of the company’s stock worth $26,000 after acquiring an additional 1,739 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in Beyond Meat in the second quarter worth $41,000. Scarborough Advisors LLC bought a new stake in Beyond Meat in the fourth quarter worth $62,000. ProShare Advisors LLC bought a new stake in Beyond Meat in the first quarter worth $88,000. Finally, EntryPoint Capital LLC boosted its holdings in Beyond Meat by 77.1% in the first quarter. EntryPoint Capital LLC now owns 17,685 shares of the company’s stock worth $146,000 after purchasing an additional 7,699 shares in the last quarter. 52.48% of the stock is owned by institutional investors and hedge funds.

Beyond Meat Company Profile

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.