Beyond Meat, Inc. (NASDAQ:BYND) Short Interest Update

Beyond Meat, Inc. (NASDAQ:BYND) saw a significant drop in short interest in the month of August. As of August 14th, there was short interest totaling 5,121,711 shares, a drop of 96.1% from the July 30th total of 130,476,904 shares. Based on an average trading volume of 2,275,140 shares, the days-to-cover ratio is currently 2.3 days. Currently, 30.4% of the company’s shares are sold short.

Institutional Investors Weigh In On Beyond Meat

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Beyond Meat during the second quarter worth $6,753,000. UBS Group AG lifted its holdings in shares of Beyond Meat by 674.8% in the 4th quarter. UBS Group AG now owns 9,788,528 shares of the company’s stock worth $8,027,000 after acquiring an additional 8,525,183 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Beyond Meat by 445.0% during the 4th quarter. Geode Capital Management LLC now owns 9,927,157 shares of the company’s stock worth $8,142,000 after purchasing an additional 8,105,718 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Beyond Meat by 497.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,383,511 shares of the company’s stock valued at $2,774,000 after buying an additional 2,816,778 shares during the last quarter. Finally, Ieq Capital LLC bought a new position in Beyond Meat in the 2nd quarter valued at $933,000. Hedge funds and other institutional investors own 52.48% of the company’s stock.

Analyst Upgrades and Downgrades

BYND has been the topic of a number of research analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of Beyond Meat in a research report on Wednesday, July 8th. Barclays reaffirmed an “underweight” rating and issued a $10.00 target price (up from $0.50) on shares of Beyond Meat in a research report on Monday, August 17th. Zacks Research raised shares of Beyond Meat from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. Finally, Wall Street Zen upgraded shares of Beyond Meat from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 12th. Three investment analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Strong Sell” and a consensus target price of $23.50.

Beyond Meat Price Performance

BYND opened at $14.44 on Thursday. The firm has a market cap of $248.10 million, a PE ratio of -0.26 and a beta of 2.78. The stock has a 50-day moving average price of $17.66 and a 200-day moving average price of $21.05. Beyond Meat has a 1 year low of $10.71 and a 1 year high of $230.70. The company has a debt-to-equity ratio of 6.57, a current ratio of 2.63 and a quick ratio of 2.07.

About Beyond Meat

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.