Brokerages Set Beyond Meat, Inc. (NASDAQ:BYND) Target Price at $1.70

Beyond Meat, Inc. (NASDAQ:BYND) has been assigned a consensus recommendation of “Strong Sell” from the eight brokerages that are presently covering the company, MarketBeat.com reports. Six analysts have rated the stock with a sell recommendation and two have issued a hold recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $1.70.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Beyond Meat in a research note on Wednesday, January 21st.

Beyond Meat Stock Performance

BYND opened at $0.64 on Friday. The stock has a market capitalization of $289.04 million, a PE ratio of -0.20 and a beta of 2.61. Beyond Meat has a 1-year low of $0.50 and a 1-year high of $7.69. The firm has a 50-day moving average price of $0.77 and a two-hundred day moving average price of $1.25.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares 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 bought a new stake in shares of Beyond Meat during the fourth quarter worth $25,000. Savant Capital LLC acquired a new position in shares of Beyond Meat during the third quarter valued at $28,000. Russell Investments Group Ltd. boosted 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 acquiring an additional 11,830 shares during the last quarter. Finally, Leonteq Securities AG bought a new position in Beyond Meat in the fourth quarter valued at about $33,000. Institutional investors and hedge funds 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.