Beyond Meat, Inc. (NASDAQ:BYND – Get Rating)’s stock price was down 8.3% on Tuesday . The company traded as low as $12.17 and last traded at $12.18. Approximately 29,404 shares were traded during trading, a decline of 99% from the average daily volume of 2,746,382 shares. The stock had previously closed at $13.28.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on BYND shares. Bank of America dropped their target price on shares of Beyond Meat from $20.00 to $10.00 and set an “underperform” rating for the company in a research report on Friday, August 5th. UBS Group increased their price objective on shares of Beyond Meat from $20.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, August 5th. Canaccord Genuity Group lowered their price objective on shares of Beyond Meat from $22.00 to $15.00 and set a “hold” rating for the company in a research report on Wednesday, October 12th. Credit Suisse Group lowered their price objective on shares of Beyond Meat to $10.00 in a research report on Thursday, October 27th. Finally, Cowen lowered their price objective on shares of Beyond Meat to $15.00 in a research report on Thursday, October 13th. Four analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. According to data from MarketBeat.com, Beyond Meat has a consensus rating of “Hold” and a consensus target price of $20.38.
Beyond Meat Trading Up 0.9 %
The firm has a market cap of $817.81 million, a PE ratio of -2.15 and a beta of 2.02. The company has a quick ratio of 4.95, a current ratio of 7.68 and a debt-to-equity ratio of 27.60. The company’s 50 day moving average price is $14.57 and its two-hundred day moving average price is $23.42.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the stock. Captrust Financial Advisors increased its stake in Beyond Meat by 48.6% in the 2nd quarter. Captrust Financial Advisors now owns 1,746 shares of the company’s stock worth $42,000 after buying an additional 571 shares during the period. Nisa Investment Advisors LLC increased its stake in Beyond Meat by 4,288.9% in the 2nd 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 during the period. Psagot Value Holdings Ltd. Israel purchased a new position in Beyond Meat in the 1st quarter worth about $52,000. Prospera Financial Services Inc purchased a new position in Beyond Meat in the 1st quarter worth about $55,000. Finally, Kessler Investment Group LLC bought a new position in Beyond Meat during the 3rd quarter worth about $64,000. Hedge funds and other institutional investors own 60.98% of the company’s stock.
About Beyond Meat
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.
- Get a free copy of the StockNews.com research report on Beyond Meat (BYND)
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