Beyond Meat, Inc. (NASDAQ:BYND) Given Average Rating of “Strong Sell” by Brokerages

Shares of Beyond Meat, Inc. (NASDAQ:BYND) have been assigned an average rating of “Strong Sell” from the nine brokerages that are presently covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $0.8250.

A number of research analysts have weighed in on the stock. BMO Capital Markets reduced their price target on shares of Beyond Meat from $4.00 to $1.00 and set a “market perform” rating on the stock in a research report on Monday, April 6th. Barclays lowered their price target on Beyond Meat from $1.00 to $0.50 and set an “underweight” rating for the company in a report on Thursday, April 2nd. Finally, Zacks Research upgraded Beyond Meat from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st.

Insider Buying and Selling

In other Beyond Meat news, CFO Lubi Kutua sold 419,042 shares of Beyond Meat stock in a transaction on Monday, April 13th. The stock was 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 of the company’s stock, valued at $3,449,980.20. The trade was a 6.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Teri L. Witteman sold 29,978 shares of the company’s stock in a transaction on Monday, April 20th. The shares were sold at an average price of $1.00, for a total value of $29,978.00. Following the completion of the sale, the insider owned 4,178,194 shares of the company’s stock, valued at approximately $4,178,194. This trade represents a 0.71% 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 owned by company insiders.

Hedge Funds Weigh In On Beyond Meat

Several institutional investors and hedge funds have recently modified their holdings of the stock. Evolve Private Wealth LLC acquired a new stake in shares of Beyond Meat in the 1st quarter valued at $25,000. Xponance LLC bought a new stake in shares of Beyond Meat in the 4th quarter worth approximately $25,000. State of Wyoming acquired a new position in shares of Beyond Meat in the 1st quarter valued at $27,000. Russell Investments Group Ltd. raised its holdings in shares of Beyond Meat by 400.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 14,786 shares of the company’s stock worth $28,000 after buying an additional 11,830 shares in the last quarter. Finally, Chicago Partners Investment Group LLC acquired a new stake in shares of Beyond Meat in the 1st quarter valued at $29,000. 52.48% of the stock is currently owned by hedge funds and other institutional investors.

Beyond Meat Stock Performance

NASDAQ BYND remained flat at $0.71 during trading hours on Friday. 20,338,845 shares of the company were exchanged, compared to its average volume of 33,851,000. The business’s fifty day moving average price is $0.77 and its 200-day moving average price is $0.80. The company has a market cap of $366.05 million, a PE ratio of -0.32 and a beta of 2.75. Beyond Meat has a 12-month low of $0.50 and a 12-month high of $7.69.

Beyond Meat (NASDAQ:BYND) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.02. Beyond Meat had a negative return on equity of 54.39% and a net margin of 54.95%.The business had revenue of $58.21 million for the quarter, compared to analysts’ expectations of $58.02 million. As a group, equities research analysts forecast that Beyond Meat will post -0.35 earnings per share for the current year.

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.