Traders Buy High Volume of Beyond Meat Call Options (NASDAQ:BYND)

Beyond Meat, Inc. (NASDAQ:BYND) was the recipient of some unusual options trading activity on Friday. Investors bought 34,041 call options on the company. This represents an increase of approximately 108% compared to the average daily volume of 16,349 call options.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BYND. BMO Capital Markets lowered their price objective on shares of Beyond Meat from $6.00 to $5.00 and set a “market perform” rating on the stock in a research note on Thursday, February 27th. Barclays lowered their price target on Beyond Meat from $3.00 to $2.00 and set an “underweight” rating on the stock in a research report on Thursday, May 8th.

Institutional Trading of Beyond Meat

Institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its position in Beyond Meat by 305.1% during the 4th quarter. Russell Investments Group Ltd. now owns 7,887 shares of the company’s stock worth $30,000 after buying an additional 5,940 shares during the period. Apollon Wealth Management LLC bought a new position in Beyond Meat during the first quarter worth about $31,000. KLP Kapitalforvaltning AS acquired a new stake in Beyond Meat in the 4th quarter worth about $37,000. Chiron Capital Management LLC bought a new stake in Beyond Meat in the 1st quarter valued at about $38,000. Finally, Van ECK Associates Corp grew its position in shares of Beyond Meat by 68.8% during the 4th quarter. Van ECK Associates Corp now owns 10,498 shares of the company’s stock worth $39,000 after purchasing an additional 4,280 shares in the last quarter. 52.48% of the stock is currently owned by institutional investors.

Beyond Meat Price Performance

NASDAQ:BYND opened at $2.77 on Friday. The company has a market cap of $211.82 million, a P/E ratio of -0.66 and a beta of 2.18. The firm’s fifty day moving average price is $2.84 and its two-hundred day moving average price is $3.75. Beyond Meat has a one year low of $2.23 and a one year high of $9.24.

Beyond Meat (NASDAQ:BYND) last announced its earnings results on Wednesday, May 7th. The company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.52) by ($0.15). The business’s revenue was down 9.1% compared to the same quarter last year. During the same period last year, the company earned ($0.84) EPS. As a group, equities research analysts expect that Beyond Meat will post -2.1 earnings per share for the current year.

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.