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

Beyond Meat, Inc. (NASDAQ:BYND) has been given a consensus rating of “Strong Sell” by the nine ratings firms that are presently covering the firm, MarketBeat Ratings reports. Six equities research 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 analysts that have issued ratings on the stock in the last year is $5.06.

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

Institutional Trading of Beyond Meat

A number of institutional investors and hedge funds have recently bought and sold shares of BYND. Olympiad Research LP grew its stake in Beyond Meat by 5.1% during the 4th quarter. Olympiad Research LP now owns 30,592 shares of the company’s stock valued at $272,000 after purchasing an additional 1,477 shares in the last quarter. Banque Cantonale Vaudoise raised its holdings in Beyond Meat by 117.4% during the first quarter. Banque Cantonale Vaudoise now owns 3,220 shares of the company’s stock worth $26,000 after purchasing an additional 1,739 shares in the last quarter. Ensign Peak Advisors Inc boosted its stake in Beyond Meat by 7.8% during the second quarter. Ensign Peak Advisors Inc now owns 36,493 shares of the company’s stock valued at $245,000 after buying an additional 2,650 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Beyond Meat by 9.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 33,104 shares of the company’s stock valued at $275,000 after purchasing an additional 2,790 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Beyond Meat by 17.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 26,469 shares of the company’s stock worth $178,000 after purchasing an additional 3,902 shares during the last quarter. Institutional investors and hedge funds own 52.48% of the company’s stock.

Beyond Meat Trading Up 0.6 %

Shares of BYND stock opened at $6.33 on Friday. The company has a market capitalization of $410.72 million, a P/E ratio of -1.23 and a beta of 2.25. The business’s 50 day moving average is $6.17 and its two-hundred day moving average is $6.91. Beyond Meat has a 12-month low of $5.13 and a 12-month high of $12.12.

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