Beyond Meat (NASDAQ:BYND) Trading 42.7% Higher – Here’s What Happened

Beyond Meat, Inc. (NASDAQ:BYND)’s share price traded up 42.7% during mid-day trading on Monday . The stock traded as high as $1.26 and last traded at $1.4010. 80,908,448 shares changed hands during mid-day trading, an increase of 54% from the average session volume of 52,492,207 shares. The stock had previously closed at $0.9818.

Analyst Ratings Changes

A number of equities research analysts have commented on BYND shares. Weiss Ratings restated a “sell (e+)” rating on shares of Beyond Meat in a research note on Wednesday, October 8th. Argus cut shares of Beyond Meat from a “hold” rating to a “sell” rating in a research note on Monday, September 15th. Barclays cut their price target on Beyond Meat from $2.00 to $1.00 and set an “underweight” rating for the company in a research note on Wednesday, November 12th. Mizuho reduced their price objective on shares of Beyond Meat from $1.50 to $1.00 and set an “underperform” rating on the stock in a research report on Thursday, November 13th. Finally, BTIG Research reiterated a “neutral” rating on shares of Beyond Meat in a research report on Friday, October 24th. Two analysts have rated the stock with a Hold rating and seven have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Strong Sell” and a consensus price target of $1.70.

Beyond Meat Trading Down 3.1%

The stock has a market capitalization of $566.96 million, a PE ratio of -0.39 and a beta of 2.51. The business’s 50 day moving average is $1.58 and its 200 day moving average is $2.54.

Beyond Meat (NASDAQ:BYND) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.08). The company had revenue of $70.22 million for the quarter, compared to the consensus estimate of $68.82 million. As a group, analysts anticipate that Beyond Meat, Inc. will post -2.1 EPS for the current year.

Institutional Trading of Beyond Meat

A number of large investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its stake in Beyond Meat by 8.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 573,596 shares of the company’s stock worth $1,749,000 after buying an additional 46,540 shares during the period. MUFG Securities EMEA plc grew its stake in Beyond Meat by 49.5% in the 1st quarter. MUFG Securities EMEA plc now owns 30,760 shares of the company’s stock worth $94,000 after acquiring an additional 10,190 shares in the last quarter. Invesco Ltd. increased its position in shares of Beyond Meat by 144.1% during the first quarter. Invesco Ltd. now owns 71,108 shares of the company’s stock worth $217,000 after acquiring an additional 41,974 shares during the period. Aigen Investment Management LP bought a new stake in shares of Beyond Meat during the first quarter valued at approximately $69,000. Finally, Nuveen LLC purchased a new stake in shares of Beyond Meat in the first quarter valued at approximately $555,000. 52.48% of the stock is owned by hedge funds and other institutional investors.

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.