Beyond Meat (NASDAQ:BYND) Stock Price Down 6.4%

Shares of Beyond Meat, Inc. (NASDAQ:BYND) fell 6.4% during mid-day trading on Monday . The stock traded as low as $7.63 and last traded at $7.75. 1,365,338 shares were traded during mid-day trading, a decline of 63% from the average session volume of 3,651,920 shares. The stock had previously closed at $8.28.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. BMO Capital Markets increased their price target on Beyond Meat from $7.00 to $10.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 28th. Argus raised Beyond Meat from a “sell” rating to a “hold” rating in a report on Thursday, February 29th. Finally, Mizuho boosted their price target on Beyond Meat from $5.00 to $7.00 and gave the company an “underperform” rating in a research note on Thursday, February 29th. Five investment analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $6.67.

Beyond Meat Trading Down 6.3 %

The firm has a 50-day moving average of $7.64 and a two-hundred day moving average of $7.97. The firm has a market capitalization of $501.89 million, a P/E ratio of -1.48 and a beta of 2.44.

Beyond Meat (NASDAQ:BYND) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($2.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.82) by ($1.58). The firm had revenue of $73.68 million for the quarter, compared to the consensus estimate of $66.66 million. The company’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.05) EPS. On average, sell-side analysts anticipate that Beyond Meat, Inc. will post -2.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Compagnie Lombard Odier SCmA grew its position in Beyond Meat by 16.3% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 25,000 shares of the company’s stock worth $222,000 after acquiring an additional 3,500 shares during the last quarter. Vontobel Holding Ltd. grew its holdings in shares of Beyond Meat by 716.7% during the third quarter. Vontobel Holding Ltd. now owns 359,718 shares of the company’s stock worth $3,460,000 after purchasing an additional 315,671 shares during the last quarter. Gotham Asset Management LLC increased its stake in shares of Beyond Meat by 5.6% in the third quarter. Gotham Asset Management LLC now owns 31,165 shares of the company’s stock valued at $300,000 after buying an additional 1,646 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Beyond Meat by 6.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 483,732 shares of the company’s stock worth $4,654,000 after purchasing an additional 30,998 shares during the period. Finally, Sigma Planning Corp acquired a new stake in Beyond Meat in the third quarter valued at $98,000. 52.48% of the stock is currently owned by institutional investors and hedge funds.

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.