Stock Traders Buy Large Volume of Call Options on Beyond Meat (NASDAQ:BYND)

Beyond Meat, Inc. (NASDAQ:BYND) was the target of unusually large options trading activity on Tuesday. Stock traders acquired 25,683 call options on the stock. This is an increase of 62% compared to the average volume of 15,863 call options.

Beyond Meat Trading Down 0.6%

NASDAQ BYND opened at $3.41 on Wednesday. The firm’s 50 day simple moving average is $2.76 and its 200 day simple moving average is $3.45. The firm has a market capitalization of $260.77 million, a price-to-earnings ratio of -0.82 and a beta of 2.15. Beyond Meat has a 1 year low of $2.23 and a 1 year high of $9.24.

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

Hedge Funds Weigh In On Beyond Meat

A number of hedge funds and other institutional investors have recently made changes to their positions in BYND. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Beyond Meat by 28.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 72,729 shares of the company’s stock worth $222,000 after purchasing an additional 16,044 shares during the period. AQR Capital Management LLC bought a new stake in shares of Beyond Meat during the 1st quarter valued at about $590,000. Chiron Capital Management LLC purchased a new stake in Beyond Meat during the first quarter valued at approximately $38,000. Ieq Capital LLC purchased a new position in Beyond Meat during the first quarter valued at $67,000. Finally, MetLife Investment Management LLC grew its stake in shares of Beyond Meat by 167.3% during the 1st quarter. MetLife Investment Management LLC now owns 35,697 shares of the company’s stock valued at $109,000 after acquiring an additional 22,341 shares during the period. Institutional investors own 52.48% of the company’s stock.

Analyst Ratings Changes

BYND has been the subject of several research reports. Barclays decreased their price target on shares of Beyond Meat from $3.00 to $2.00 and set an “underweight” rating for the company in a report on Thursday, May 8th. BMO Capital Markets decreased their price objective on Beyond Meat from $6.00 to $5.00 and set a “market perform” rating on the stock in a report on Thursday, February 27th.

Beyond Meat Company Profile

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.