Beyond Meat (NASDAQ:BYND) Given New $3.00 Price Target at Barclays

Beyond Meat (NASDAQ:BYND) had its target price cut by equities researchers at Barclays from $4.00 to $3.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Barclays‘s price target points to a potential downside of 5.06% from the stock’s current price.

Beyond Meat Stock Down 0.6 %

Shares of Beyond Meat stock opened at $3.16 on Thursday. The company has a market cap of $206.04 million, a P/E ratio of -0.76 and a beta of 2.31. The firm’s 50 day moving average price is $3.86 and its 200-day moving average price is $5.11. Beyond Meat has a 52-week low of $3.10 and a 52-week high of $11.70.

Beyond Meat (NASDAQ:BYND) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.21). The firm had revenue of $76.66 million during the quarter, compared to analyst estimates of $76.08 million. As a group, equities research analysts forecast that Beyond Meat will post -2.1 EPS for the current fiscal year.

Insider Activity

In other news, insider Ethan Brown sold 313,000 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $3.75, for a total transaction of $1,173,750.00. Following the sale, the insider now directly owns 1,703,288 shares of the company’s stock, valued at $6,387,330. The trade was a 15.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 8.60% of the company’s stock.

Institutional Trading of Beyond Meat

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its holdings in shares of Beyond Meat by 305.1% in the fourth quarter. Russell Investments Group Ltd. now owns 7,887 shares of the company’s stock valued at $30,000 after purchasing an additional 5,940 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in Beyond Meat in the fourth quarter valued at approximately $37,000. Ballentine Partners LLC acquired a new position in Beyond Meat in the 4th quarter worth approximately $39,000. Van ECK Associates Corp raised its position in Beyond Meat by 68.8% during the 4th quarter. Van ECK Associates Corp now owns 10,498 shares of the company’s stock worth $39,000 after buying an additional 4,280 shares during the last quarter. Finally, Ameriprise Financial Inc. acquired a new stake in Beyond Meat during the 4th quarter valued at approximately $39,000. Institutional investors and hedge funds own 52.48% of the company’s stock.

About Beyond Meat

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.