Beyond Meat (NASDAQ:BYND) PT Lowered to $6.00

Beyond Meat (NASDAQ:BYND) had its target price decreased by Mizuho from $7.00 to $6.00 in a research report report published on Monday, Benzinga reports. Mizuho currently has an underperform rating on the stock.

Several other equities research analysts have also recently weighed in on the company. Argus upgraded Beyond Meat from a sell rating to a hold rating in a research note on Thursday, February 29th. TD Cowen reduced their price objective on shares of Beyond Meat from $10.00 to $6.00 and set a sell rating for the company in a research report on Wednesday, April 17th. Finally, BMO Capital Markets increased their target price 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. Five equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. Based on data from MarketBeat, Beyond Meat currently has an average rating of Reduce and an average target price of $5.83.

Beyond Meat Trading Down 3.9 %

Shares of NASDAQ:BYND opened at $6.16 on Monday. Beyond Meat has a 52 week low of $5.58 and a 52 week high of $19.25. The company’s 50 day moving average is $7.71 and its two-hundred day moving average is $7.67. The company has a market cap of $398.43 million, a PE ratio of -1.18 and a beta of 2.41.

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

Hedge Funds Weigh In On Beyond Meat

A number of hedge funds have recently modified their holdings of BYND. Udine Wealth Management Inc. acquired a new stake in Beyond Meat during the 1st quarter worth $422,000. Banque Cantonale Vaudoise raised its holdings in shares of Beyond Meat by 117.4% in the first quarter. Banque Cantonale Vaudoise now owns 3,220 shares of the company’s stock valued at $26,000 after buying an additional 1,739 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Beyond Meat during the fourth quarter worth about $196,000. Scarborough Advisors LLC purchased a new position in shares of Beyond Meat during the fourth quarter worth about $62,000. Finally, Arbor Capital Management Inc. ADV acquired a new position in Beyond Meat in the 4th quarter valued at about $752,000. 52.48% of the stock is currently owned by hedge funds and other 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.