Beyond Meat, Inc. (NASDAQ:BYND) Receives Consensus Rating of “Strong Sell” from Analysts

Shares of Beyond Meat, Inc. (NASDAQ:BYND) have earned an average rating of “Strong Sell” from the eight research firms that are presently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $5.36.

Several research analysts have recently commented on the company. Mizuho reduced their price target on Beyond Meat from $6.00 to $5.00 and set an “underperform” rating on the stock in a report on Monday, August 26th. BMO Capital Markets reduced their price objective on shares of Beyond Meat from $9.00 to $6.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th.

Hedge Funds Weigh In On Beyond Meat

A number of institutional investors and hedge funds have recently made changes to their positions in BYND. Vontobel Holding Ltd. grew its position in shares of Beyond Meat by 91.5% during the third quarter. Vontobel Holding Ltd. now owns 569,773 shares of the company’s stock worth $3,863,000 after buying an additional 272,240 shares in the last quarter. Raymond James & Associates acquired a new position in shares of Beyond Meat during the second quarter worth about $1,463,000. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its position in shares of Beyond Meat by 42.7% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 625,396 shares of the company’s stock worth $4,240,000 after buying an additional 186,996 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Beyond Meat by 3.0% during the first quarter. Vanguard Group Inc. now owns 5,351,777 shares of the company’s stock worth $44,313,000 after buying an additional 155,653 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in shares of Beyond Meat by 141.8% during the second quarter. SG Americas Securities LLC now owns 248,921 shares of the company’s stock worth $1,670,000 after buying an additional 145,974 shares in the last quarter. 52.48% of the stock is owned by institutional investors and hedge funds.

Beyond Meat Stock Up 0.2 %

Shares of BYND opened at $6.61 on Thursday. Beyond Meat has a 52-week low of $5.13 and a 52-week high of $12.12. The firm’s fifty day moving average is $6.34 and its two-hundred day moving average is $6.69. The stock has a market cap of $428.89 million, a PE ratio of -1.28 and a beta of 2.26.

Beyond Meat (NASDAQ:BYND) last announced its earnings results on Wednesday, August 7th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.02). The business had revenue of $93.19 million for the quarter, compared to the consensus estimate of $87.81 million. During the same quarter in the previous year, the business posted ($0.83) earnings per share. The firm’s revenue was down 8.8% compared to the same quarter last year. As a group, research analysts anticipate that Beyond Meat will post -2.12 earnings per share for the current year.

Beyond Meat Company Profile

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.