Barclays Issues Pessimistic Forecast for Beyond Meat (NASDAQ:BYND) Stock Price

Beyond Meat (NASDAQ:BYNDGet Free Report) had its price objective reduced by equities researchers at Barclays from $1.00 to $0.50 in a research note issued on Thursday,Benzinga reports. The firm presently has an “underweight” rating on the stock. Barclays‘s target price would suggest a potential downside of 15.88% from the company’s previous close.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Beyond Meat in a research note on Wednesday, January 21st. Two equities research analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Strong Sell” and an average target price of $1.58.

Read Our Latest Report on Beyond Meat

Beyond Meat Price Performance

NASDAQ BYND opened at $0.59 on Thursday. The stock has a market capitalization of $269.67 million, a price-to-earnings ratio of -0.21 and a beta of 2.67. Beyond Meat has a 1-year low of $0.50 and a 1-year high of $7.69. The business’s fifty day moving average price is $0.74 and its 200-day moving average price is $1.20.

Beyond Meat (NASDAQ:BYNDGet Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.17). The company had revenue of $61.59 million during the quarter, compared to the consensus estimate of $63.00 million. Equities research analysts anticipate that Beyond Meat will post -2.1 EPS for the current year.

Institutional Investors Weigh In On Beyond Meat

Several institutional investors and hedge funds have recently modified their holdings of BYND. Pitcairn Co. bought a new position in shares of Beyond Meat during the second quarter worth $37,000. Banco Santander S.A. purchased a new stake in Beyond Meat in the 3rd quarter worth $25,000. Russell Investments Group Ltd. boosted its holdings in shares of Beyond Meat by 400.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 14,786 shares of the company’s stock valued at $28,000 after purchasing an additional 11,830 shares during the last quarter. Savant Capital LLC purchased a new position in shares of Beyond Meat during the third quarter valued at about $28,000. Finally, Regatta Capital Group LLC bought a new stake in shares of Beyond Meat in the third quarter worth about $38,000. Institutional investors own 52.48% of the company’s stock.

Key Stories Impacting Beyond Meat

Here are the key news stories impacting Beyond Meat this week:

About Beyond Meat

(Get Free Report)

Beyond Meat, Inc (NASDAQ: BYND) develops, manufactures and sells plant-based meat substitutes designed to replicate the taste, texture and appearance of animal-based proteins. Since its founding in 2009 by Ethan Brown and initial public offering in 2019, the company has focused on leveraging proprietary technology and ingredient blends to produce a suite of products that cater to both retail and foodservice channels. Beyond Meat’s mission centers on offering more sustainable protein options by reducing reliance on livestock farming and its associated environmental footprint.

The company’s product portfolio includes Beyond Burger, Beyond Sausage, Beyond Beef and Beyond Chicken, each formulated to appeal to a broad range of consumers seeking meat alternatives without compromising on flavor or cooking versatility.

Further Reading

Analyst Recommendations for Beyond Meat (NASDAQ:BYND)

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