Beyond Meat (NASDAQ:BYND) Trading Down 0.7% – What’s Next?

Beyond Meat, Inc. (NASDAQ:BYND)’s share price traded down 0.7% during mid-day trading on Wednesday . The stock traded as low as $0.7411 and last traded at $0.7450. 29,476,645 shares traded hands during mid-day trading, a decline of 15% from the average daily volume of 34,773,272 shares. The stock had previously closed at $0.75.

Wall Street Analyst Weigh In

Several analysts recently commented on BYND shares. BMO Capital Markets decreased their price target on shares of Beyond Meat from $4.00 to $1.00 and set a “market perform” rating for the company in a report on Monday, April 6th. Barclays dropped their price objective on shares of Beyond Meat from $1.00 to $0.50 and set an “underweight” rating on the stock in a research note on Thursday, April 2nd. Finally, Zacks Research upgraded shares of Beyond Meat from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Three research analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Strong Sell” and a consensus price target of $0.82.

Beyond Meat Price Performance

The business has a 50 day simple moving average of $0.79 and a 200 day simple moving average of $0.80. The stock has a market cap of $383.93 million, a PE ratio of -0.34 and a beta of 2.75.

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

Insider Activity at Beyond Meat

In other Beyond Meat news, CFO Lubi Kutua sold 419,042 shares of the business’s stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $0.60, for a total value of $251,425.20. Following the completion of the sale, the chief financial officer directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 stock in a transaction on Monday, April 20th. The stock was sold at an average price of $1.00, for a total transaction of $29,978.00. Following the transaction, the insider owned 4,178,194 shares in the company, valued at approximately $4,178,194. This trade represents a 0.71% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Beyond Meat

Large investors have recently bought and sold shares of the business. Evolve Private Wealth LLC acquired a new position in Beyond Meat during the first quarter worth $25,000. Xponance LLC acquired a new stake in shares of Beyond Meat in the fourth quarter worth about $25,000. State of Wyoming bought a new stake in shares of Beyond Meat during the 1st quarter worth about $27,000. Russell Investments Group Ltd. boosted its stake in shares of Beyond Meat by 400.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 14,786 shares of the company’s stock worth $28,000 after acquiring an additional 11,830 shares in the last quarter. Finally, Chicago Partners Investment Group LLC acquired a new position in shares of Beyond Meat during the 1st quarter valued at about $29,000. 52.48% of the stock is currently owned by institutional investors.

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.