Beyond Meat (NASDAQ:BYND) Shares Down 2.8%

Beyond Meat, Inc. (NASDAQ:BYND) shares fell 2.8% during mid-day trading on Monday . The company traded as low as $7.94 and last traded at $8.00. 1,048,398 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 3,115,028 shares. The stock had previously closed at $8.23.

Wall Street Analyst Weigh In

BYND has been the topic of a number of research reports. Argus upgraded Beyond Meat from a “sell” rating to a “hold” rating in a report on Thursday, February 29th. BMO Capital Markets raised their price objective on Beyond Meat from $7.00 to $10.00 and gave the company a “market perform” rating in a research note on Wednesday, February 28th. Mizuho dropped their price objective on Beyond Meat from $7.00 to $6.00 and set an “underperform” rating on the stock in a research note on Monday, April 22nd. Finally, TD Cowen cut their price target on shares of Beyond Meat from $10.00 to $6.00 and set a “sell” rating for the company in a report on Wednesday, April 17th. Five analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to MarketBeat, Beyond Meat currently has a consensus rating of “Reduce” and a consensus target price of $5.83.

Beyond Meat Price Performance

The company has a market capitalization of $532.32 million, a price-to-earnings ratio of -1.54 and a beta of 2.42. The firm has a 50-day moving average price of $7.64 and a two-hundred day moving average price of $7.56.

Beyond Meat (NASDAQ:BYND) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($2.40) EPS 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 analyst estimates of $66.66 million. The firm’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.05) earnings per share. On average, equities analysts predict that Beyond Meat, Inc. will post -2.29 EPS for the current year.

Hedge Funds Weigh In On Beyond Meat

A number of large investors have recently made changes to their positions in BYND. Olympiad Research LP grew its holdings in Beyond Meat by 5.1% in the 4th quarter. Olympiad Research LP now owns 30,592 shares of the company’s stock valued at $272,000 after buying an additional 1,477 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Beyond Meat by 9.4% in the fourth quarter. Arizona State Retirement System now owns 17,999 shares of the company’s stock valued at $160,000 after acquiring an additional 1,541 shares in the last quarter. Gotham Asset Management LLC increased its position in Beyond Meat by 5.6% during the third quarter. Gotham Asset Management LLC now owns 31,165 shares of the company’s stock worth $300,000 after acquiring an additional 1,646 shares during the period. Banque Cantonale Vaudoise raised its stake in Beyond Meat by 117.4% in the 1st quarter. Banque Cantonale Vaudoise now owns 3,220 shares of the company’s stock worth $26,000 after purchasing an additional 1,739 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Beyond Meat by 5.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 58,921 shares of the company’s stock valued at $567,000 after purchasing an additional 3,143 shares during the period. Institutional investors 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.