Van ECK Associates Corp Decreases Stake in Beyond Meat, Inc. (NASDAQ:BYND)

Van ECK Associates Corp reduced its stake in shares of Beyond Meat, Inc. (NASDAQ:BYND) by 26.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 6,218 shares of the company’s stock after selling 2,292 shares during the period. Van ECK Associates Corp’s holdings in Beyond Meat were worth $42,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in BYND. Canada Pension Plan Investment Board purchased a new stake in shares of Beyond Meat during the 2nd quarter worth $41,000. ProShare Advisors LLC purchased a new stake in shares of Beyond Meat during the 1st quarter worth $88,000. EntryPoint Capital LLC boosted its position in shares of Beyond Meat by 77.1% during the 1st 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. Farallon Capital Management LLC purchased a new stake in shares of Beyond Meat during the 1st quarter worth $157,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Beyond Meat during the 2nd quarter worth $177,000. 52.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on BYND shares. BMO Capital Markets decreased their price objective on shares of Beyond Meat from $9.00 to $6.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. Mizuho decreased their price objective on shares of Beyond Meat from $6.00 to $5.00 and set an “underperform” rating on the stock in a research report on Monday, August 26th. Three equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to MarketBeat, Beyond Meat presently has an average rating of “Hold” and an average target price of $5.50.

Beyond Meat Price Performance

Shares of BYND stock opened at $5.27 on Thursday. The firm has a 50-day moving average price of $6.31 and a 200 day moving average price of $6.59. Beyond Meat, Inc. has a twelve month low of $5.00 and a twelve month high of $12.12.

Beyond Meat (NASDAQ:BYND) last announced its earnings results on Wednesday, November 6th. The company reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.03. The firm had revenue of $81.01 million during the quarter, compared to analyst estimates of $80.13 million. During the same period in the previous year, the firm posted ($1.09) EPS. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. Equities analysts predict that Beyond Meat, Inc. will post -2.05 earnings per share for the current year.

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.