Beyond Meat (NASDAQ:BYND) Trading Down 8.3%

Beyond Meat, Inc. (NASDAQ:BYNDGet 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.

Beyond Meat (NASDAQ:BYNDGet Rating) last posted its quarterly earnings results on Wednesday, November 9th. The company reported ($1.60) EPS for the quarter, missing the consensus estimate of ($1.11) by ($0.49). The company had revenue of $82.50 million during the quarter, compared to analysts’ expectations of $84.56 million. Beyond Meat had a negative return on equity of 400.17% and a negative net margin of 86.35%. The company’s quarterly revenue was down 22.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.87) EPS. As a group, sell-side analysts forecast that Beyond Meat, Inc. will post -5.74 EPS for the current year.

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

(Get Rating)

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.

Further Reading

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