Beyond Meat (NASDAQ:BYND) Price Target Cut to $1.00 by Analysts at BMO Capital Markets

Beyond Meat (NASDAQ:BYND) had its price objective trimmed by BMO Capital Markets from $4.00 to $1.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has a market perform rating on the stock.

BYND has been the topic of several other research reports. Barclays cut their target price on Beyond Meat from $1.00 to $0.50 and set an “underweight” rating on the stock in a research report on Thursday, April 2nd. Weiss Ratings reissued a “sell (e+)” rating on shares of Beyond Meat in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Strong Sell” and a consensus target price of $0.83.

Beyond Meat Price Performance

Shares of BYND opened at $0.59 on Monday. The stock has a market capitalization of $267.67 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 50 day simple moving average is $0.73 and its 200-day simple moving average is $1.17.

Beyond Meat (NASDAQ:BYND) last issued its quarterly earnings data on Tuesday, March 31st. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.17). The firm had revenue of $61.59 million during the quarter, compared to analyst estimates of $63.00 million. On average, sell-side analysts expect that Beyond Meat will post -2.1 earnings per share for the current year.

Hedge Funds Weigh In On Beyond Meat

Hedge funds and other institutional investors have recently made changes to their positions in the company. Pitcairn Co. bought a new position in shares of Beyond Meat during the 2nd quarter worth $37,000. Banco Santander S.A. bought a new position in shares of Beyond Meat during the 3rd quarter worth $25,000. Russell Investments Group Ltd. grew its position 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 worth $28,000 after buying an additional 11,830 shares in the last quarter. Savant Capital LLC bought a new position in shares of Beyond Meat during the 3rd quarter worth $28,000. Finally, Regatta Capital Group LLC bought a new position in shares of Beyond Meat during the 3rd quarter worth $38,000. Institutional investors own 52.48% of the company’s stock.

Beyond Meat Company Profile

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.