Beyond Meat (NASDAQ:BYND) Hits New 12-Month Low at $20.37

Beyond Meat, Inc. (NASDAQ:BYNDGet Rating)’s share price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $20.37 and last traded at $20.55, with a volume of 15237 shares trading hands. The stock had previously closed at $21.12.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BYND. Mizuho boosted their price target on Beyond Meat from $21.00 to $27.00 and gave the stock a “neutral” rating in a report on Monday, August 8th. Barclays boosted their price target on Beyond Meat from $25.00 to $30.00 and gave the stock an “equal weight” rating in a report on Monday, August 8th. UBS Group boosted their price target on Beyond Meat from $20.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, August 5th. Bank of America reduced their price target on Beyond Meat from $20.00 to $10.00 and set an “underperform” rating on the stock in a report on Friday, August 5th. Finally, Piper Sandler reduced their price target on Beyond Meat from $12.00 to $9.00 and set an “underweight” rating on the stock in a report on Tuesday, August 23rd. Six research analysts have rated the stock with a sell rating and ten have issued a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $42.18.

Beyond Meat Stock Performance

The company has a quick ratio of 5.16, a current ratio of 7.48 and a debt-to-equity ratio of 27.60. The company has a 50 day simple moving average of $30.30 and a 200-day simple moving average of $33.70. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of -3.72 and a beta of 1.86.

Beyond Meat (NASDAQ:BYNDGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($1.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.22) by ($0.31). Beyond Meat had a negative net margin of 71.78% and a negative return on equity of 400.17%. The business had revenue of $147.00 million during the quarter, compared to analyst estimates of $149.08 million. During the same period last year, the firm posted ($0.31) earnings per share. Beyond Meat’s quarterly revenue was down 1.6% compared to the same quarter last year. As a group, equities research analysts expect that Beyond Meat, Inc. will post -5.26 EPS for the current fiscal year.

Insider Transactions at Beyond Meat

In other news, insider Beth Moskowitz sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $37.51, for a total transaction of $75,020.00. Following the transaction, the insider now directly owns 22,358 shares of the company’s stock, valued at $838,648.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Beyond Meat

A number of institutional investors have recently modified their holdings of BYND. Parallel Advisors LLC raised its position in shares of Beyond Meat by 110.3% during the first quarter. Parallel Advisors LLC now owns 614 shares of the company’s stock worth $30,000 after purchasing an additional 322 shares during the period. Samalin Investment Counsel LLC grew its holdings in Beyond Meat by 1,657.1% during the fourth quarter. Samalin Investment Counsel LLC now owns 615 shares of the company’s stock worth $40,000 after buying an additional 580 shares in the last quarter. Captrust Financial Advisors grew its holdings in Beyond Meat by 48.6% during the second quarter. Captrust Financial Advisors now owns 1,746 shares of the company’s stock worth $42,000 after buying an additional 571 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in Beyond Meat by 4,288.9% during the second quarter. Nisa Investment Advisors LLC now owns 1,975 shares of the company’s stock worth $47,000 after buying an additional 1,930 shares in the last quarter. Finally, Psagot Value Holdings Ltd. Israel bought a new stake in Beyond Meat during the first quarter worth $52,000. 60.98% of the stock is owned by institutional investors and hedge funds.

Beyond Meat Company Profile

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Beyond Meat, Inc 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 store, convenience store and natural retailer channels, and direct-to-consumer, as well as various food-away-from-home channels, including restaurants, foodservice outlets, and schools.

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