Beyond Meat (NASDAQ:BYND) Cut to “Strong Sell” at Zacks Research

Zacks Research cut shares of Beyond Meat (NASDAQ:BYNDFree Report) from a hold rating to a strong sell rating in a research note published on Tuesday morning,Zacks.com reports.

BYND has been the topic of several other reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Beyond Meat in a research note on Wednesday, January 21st. BMO Capital Markets cut their target price on shares of Beyond Meat from $4.00 to $1.00 and set a “market perform” rating on the stock in a research note on Monday. Finally, Barclays cut their target price on shares of Beyond Meat from $1.00 to $0.50 and set an “underweight” rating on the stock in a research note on Thursday, April 2nd. Two equities research analysts have rated the stock with a Hold rating and seven have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Strong Sell” and a consensus target price of $0.83.

View Our Latest Analysis on Beyond Meat

Beyond Meat Trading Down 0.4%

BYND stock opened at $0.60 on Tuesday. The company has a market capitalization of $272.21 million, a PE ratio of -0.21 and a beta of 2.67. Beyond Meat has a 12-month low of $0.50 and a 12-month high of $7.69. The business’s fifty day moving average price is $0.72 and its 200 day moving average price is $1.14.

Beyond Meat (NASDAQ:BYNDGet Free Report) last posted 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). Beyond Meat had a net margin of 43.98% and a negative return on equity of 28.09%. The firm had revenue of $61.59 million during the quarter, compared to analysts’ expectations of $63.00 million. Research analysts predict that Beyond Meat will post -2.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Beyond Meat

A number of large investors have recently modified their holdings of the company. Banco Santander S.A. acquired a new stake in shares of Beyond Meat in the 3rd quarter valued at $25,000. Xponance LLC acquired a new position in shares of Beyond Meat during the fourth quarter worth $25,000. Savant Capital LLC purchased a new position in Beyond Meat in the third quarter valued at $28,000. Russell Investments Group Ltd. increased its holdings in Beyond Meat by 400.2% in the third quarter. Russell Investments Group Ltd. now owns 14,786 shares of the company’s stock valued at $28,000 after buying an additional 11,830 shares during the last quarter. Finally, Leonteq Securities AG purchased a new position in Beyond Meat in the fourth quarter valued at $33,000. 52.48% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Beyond Meat

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

Beyond Meat Company Profile

(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.

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Analyst Recommendations for Beyond Meat (NASDAQ:BYND)

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