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

Shares of Beyond Meat, Inc. (NASDAQ:BYND) have earned an average rating of “Strong Sell” from the seven analysts that are covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a sell recommendation and two have issued a hold recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $6.00.

Several brokerages have issued reports on BYND. BMO Capital Markets upped their price target on shares of Beyond Meat from $7.00 to $10.00 and gave the company a “market perform” rating in a research report on Wednesday, February 28th. Argus upgraded Beyond Meat from a “sell” rating to a “hold” rating in a report on Thursday, February 29th. TD Cowen lowered their target price on Beyond Meat from $10.00 to $6.00 and set a “sell” rating for the company in a research report on Wednesday. Finally, Mizuho upped their price target on Beyond Meat from $5.00 to $7.00 and gave the company an “underperform” rating in a research report on Thursday, February 29th.

Beyond Meat Stock Down 2.0 %

Shares of BYND opened at $6.43 on Thursday. The business has a 50-day simple moving average of $7.75 and a two-hundred day simple moving average of $7.72. Beyond Meat has a 12-month low of $5.58 and a 12-month high of $19.25. The stock has a market cap of $415.89 million, a PE ratio of -1.23 and a beta of 2.41.

Beyond Meat (NASDAQ:BYND) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($2.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($1.58). The firm had revenue of $73.68 million during the quarter, compared to the consensus estimate of $66.66 million. Beyond Meat’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.05) earnings per share. On average, equities research analysts expect that Beyond Meat will post -2.46 EPS for the current year.

Institutional Investors Weigh In On Beyond Meat

A number of hedge funds have recently added to or reduced their stakes in the business. MUFG Securities EMEA plc bought a new stake in shares of Beyond Meat in the 1st quarter valued at $75,000. Captrust Financial Advisors increased its stake in Beyond Meat by 48.6% in the second quarter. Captrust Financial Advisors now owns 1,746 shares of the company’s stock valued at $42,000 after purchasing an additional 571 shares in the last quarter. Clear Street Markets LLC bought a new stake in Beyond Meat in the third quarter valued at $31,000. Banque Cantonale Vaudoise raised its holdings in shares of Beyond Meat by 117.4% during the first quarter. Banque Cantonale Vaudoise now owns 3,220 shares of the company’s stock valued at $26,000 after purchasing an additional 1,739 shares during the period. Finally, MetLife Investment Management LLC bought a new position in shares of Beyond Meat during the 1st quarter worth about $164,000. 52.48% of the stock is currently owned by institutional investors.

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.