Beyond Meat Target of Unusually Large Options Trading (NASDAQ:BYND)

Beyond Meat, Inc. (NASDAQ:BYND) was the recipient of unusually large options trading activity on Friday. Stock investors purchased 110,588 call options on the stock. This represents an increase of 151% compared to the typical volume of 44,024 call options.

Institutional Trading of Beyond Meat

Several institutional investors have recently modified their holdings of BYND. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Beyond Meat in the first quarter worth $48,000. Golden State Equity Partners bought a new stake in shares of Beyond Meat in the first quarter worth $61,000. Vontobel Holding Ltd. lifted its holdings in Beyond Meat by 35.0% in the first quarter. Vontobel Holding Ltd. now owns 1,758,904 shares of the company’s stock valued at $5,365,000 after buying an additional 455,963 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Beyond Meat by 16,921.9% in the first quarter. Nisa Investment Advisors LLC now owns 124,260 shares of the company’s stock valued at $379,000 after buying an additional 123,530 shares during the period. Finally, Cerity Partners LLC acquired a new position in Beyond Meat in the first quarter valued at $43,000. Institutional investors own 52.48% of the company’s stock.

Beyond Meat Price Performance

Shares of NASDAQ:BYND opened at $0.65 on Friday. The company’s 50 day simple moving average is $2.33 and its 200 day simple moving average is $2.81. The stock has a market capitalization of $49.55 million, a price-to-earnings ratio of -0.30 and a beta of 2.33. Beyond Meat has a 1 year low of $0.50 and a 1 year high of $6.64.

Beyond Meat (NASDAQ:BYND) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.06). The company had revenue of $74.96 million for the quarter, compared to analyst estimates of $85.71 million. Beyond Meat’s revenue was down 19.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.53) earnings per share. As a group, analysts anticipate that Beyond Meat will post -2.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BYND has been the subject of several research reports. BTIG Research restated a “neutral” rating on shares of Beyond Meat in a research report on Tuesday, September 30th. JPMorgan Chase & Co. started coverage on shares of Beyond Meat in a report on Wednesday, August 20th. They set an “underweight” rating on the stock. Argus cut shares of Beyond Meat from a “hold” rating to a “sell” rating in a report on Monday, September 15th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Beyond Meat in a report on Wednesday, October 8th. Finally, TD Cowen lowered their target price on shares of Beyond Meat from $2.00 to $0.80 and set a “sell” rating on the stock in a report on Tuesday, October 14th. Two investment analysts have rated the stock with a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Strong Sell” and a consensus target price of $2.27.

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.