Wall Street Zen Upgrades Beyond Meat (NASDAQ:BYND) to Sell

Beyond Meat (NASDAQ:BYND) was upgraded by investment analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a report released on Sunday.

BYND has been the topic of several other research reports. Weiss Ratings reissued a “sell (d)” rating on shares of Beyond Meat in a research note on Wednesday. Zacks Research raised shares of Beyond Meat from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. BMO Capital Markets lowered their target price on shares of Beyond Meat from $4.00 to $1.00 and set a “market perform” rating for the company in a report on Monday, April 6th. Finally, Barclays cut their price target on Beyond Meat from $1.00 to $0.50 and set an “underweight” rating on the stock in a research note on Thursday, April 2nd. Three equities research analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Beyond Meat presently has a consensus rating of “Strong Sell” and a consensus target price of $0.82.

Beyond Meat Trading Down 2.8%

BYND traded down $0.02 during trading on Friday, reaching $0.66. The stock had a trading volume of 36,342,707 shares, compared to its average volume of 28,254,656. The stock’s 50 day moving average is $0.75 and its two-hundred day moving average is $0.79. The company has a market capitalization of $338.06 million, a price-to-earnings ratio of -0.30 and a beta of 2.75. Beyond Meat has a one year low of $0.50 and a one year high of $7.69.

Beyond Meat (NASDAQ:BYND) last announced its earnings results on Wednesday, May 6th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. The firm had revenue of $58.21 million for the quarter, compared to analysts’ expectations of $58.02 million. Beyond Meat had a net margin of 54.95% and a negative return on equity of 54.39%. On average, equities research analysts predict that Beyond Meat will post -0.35 earnings per share for the current year.

Insider Transactions at Beyond Meat

In other news, insider Teri L. Witteman sold 29,978 shares of the stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $1.00, for a total transaction of $29,978.00. Following the sale, the insider owned 4,178,194 shares in the company, valued at $4,178,194. This represents a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Lubi Kutua sold 419,042 shares of the stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $0.60, for a total transaction of $251,425.20. Following the sale, the chief financial officer owned 5,749,967 shares in the company, valued at approximately $3,449,980.20. The trade was a 6.79% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Beyond Meat

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Evolve Private Wealth LLC purchased a new stake in Beyond Meat during the 1st quarter valued at $25,000. Xponance LLC purchased a new position in shares of Beyond Meat in the fourth quarter worth $25,000. State of Wyoming bought a new position in shares of Beyond Meat during the first quarter valued at $27,000. Russell Investments Group Ltd. lifted its holdings in shares of Beyond Meat by 400.2% during the third quarter. Russell Investments Group Ltd. now owns 14,786 shares of the company’s stock valued at $28,000 after purchasing an additional 11,830 shares in the last quarter. Finally, Chicago Partners Investment Group LLC purchased a new stake in shares of Beyond Meat during the first quarter valued at $29,000. 52.48% of the stock is owned by institutional investors.

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.