Beyond Meat (NASDAQ:BYND) Trading 6.2% Higher – What’s Next?

Beyond Meat, Inc. (NASDAQ:BYND)’s share price traded up 6.2% on Tuesday . The stock traded as high as $1.11 and last traded at $1.1050. 22,616,097 shares were traded during mid-day trading, a decline of 58% from the average session volume of 54,328,660 shares. The stock had previously closed at $1.04.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on BYND shares. BTIG Research reiterated a “neutral” rating on shares of Beyond Meat in a research note on Friday, October 24th. Mizuho dropped their price objective on Beyond Meat from $1.50 to $1.00 and set an “underperform” rating for the company in a research note on Thursday, November 13th. Argus downgraded Beyond Meat from a “hold” rating to a “sell” rating in a research note on Monday, September 15th. TD Cowen lowered their price target on Beyond Meat from $2.00 to $0.80 and set a “sell” rating on the stock in a report on Tuesday, October 14th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Beyond Meat in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Hold rating and seven have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Strong Sell” and a consensus price target of $1.70.

Beyond Meat Stock Up 3.4%

The company has a market capitalization of $487.59 million, a P/E ratio of -0.33 and a beta of 2.51. The business has a 50 day moving average of $1.39 and a 200 day moving average of $2.44.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Banco Santander S.A. bought a new position in Beyond Meat during the third quarter valued at $25,000. Savant Capital LLC purchased a new position in shares of Beyond Meat during the 3rd quarter worth about $28,000. Russell Investments Group Ltd. grew its holdings in Beyond Meat by 400.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 14,786 shares of the company’s stock valued at $28,000 after purchasing an additional 11,830 shares during the last quarter. Pitcairn Co. bought a new stake in shares of Beyond Meat in the second quarter valued at about $37,000. Finally, Chiron Capital Management LLC purchased a new stake in Beyond Meat in the first quarter worth about $38,000. 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.