Beyond Meat (NASDAQ:BYND) Trading Down 6.3% – What’s Next?

Beyond Meat, Inc. (NASDAQ:BYND)’s share price traded down 6.3% during mid-day trading on Thursday . The company traded as low as $1.19 and last traded at $1.19. 187,909,020 shares were traded during mid-day trading, an increase of 278% from the average session volume of 49,654,418 shares. The stock had previously closed at $1.27.

Analysts Set New Price Targets

Several equities research analysts have recently commented on BYND shares. TD Cowen decreased their price target on Beyond Meat from $2.00 to $0.80 and set a “sell” rating on the stock in a research note on Tuesday, October 14th. BMO Capital Markets decreased their target price on Beyond Meat from $5.00 to $4.00 and set a “market perform” rating on the stock in a research report on Thursday, August 14th. JPMorgan Chase & Co. began coverage on Beyond Meat in a research report on Wednesday, August 20th. They issued an “underweight” rating for the company. Mizuho cut their price target on Beyond Meat from $2.00 to $1.50 and set an “underperform” rating for the company in a research note on Friday, October 24th. Finally, Argus downgraded shares of Beyond Meat from a “hold” rating to a “sell” rating in a report on Monday, September 15th. Two research analysts have rated the stock with a Hold rating and seven have assigned a Sell rating to the company. According to data from MarketBeat, Beyond Meat currently has an average rating of “Strong Sell” and a consensus target price of $2.08.

Beyond Meat Stock Up 16.8%

The business’s fifty day moving average price is $2.15 and its 200 day moving average price is $2.72. The firm has a market capitalization of $552.68 million, a PE ratio of -0.64 and a beta of 2.32.

Beyond Meat (NASDAQ:BYND) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.06). The business had revenue of $74.96 million during the quarter, compared to the consensus estimate of $85.71 million. During the same period last year, the business earned ($0.53) EPS. Beyond Meat’s revenue for the quarter was down 19.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Beyond Meat, Inc. will post -2.1 earnings per share for the current fiscal year.

Institutional Trading of Beyond Meat

Institutional investors and hedge funds have recently bought and sold shares of the business. Savant Capital LLC acquired a new position in shares of Beyond Meat during the 3rd quarter valued at $28,000. Apollon Wealth Management LLC purchased a new position in Beyond Meat in the first quarter valued at about $31,000. Pitcairn Co. acquired a new position in shares of Beyond Meat during the second quarter worth about $37,000. Chiron Capital Management LLC acquired a new position in shares of Beyond Meat during the first quarter worth about $38,000. Finally, Regatta Capital Group LLC purchased a new stake in shares of Beyond Meat in the third quarter worth about $38,000. Institutional investors and hedge funds own 52.48% of the company’s stock.

Beyond Meat Company Profile

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.