Beyond Meat (NASDAQ:BYND) Lowered to “Strong Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Beyond Meat (NASDAQ:BYND) from a sell rating to a strong sell rating in a research note published on Saturday morning,Wall Street Zen reports.

Several other equities analysts have also weighed in on BYND. Barclays restated an “underweight” rating and set a $10.00 price objective (up from $0.50) on shares of Beyond Meat in a research report on Monday, August 17th. Zacks Research upgraded shares of Beyond Meat from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Beyond Meat in a research note on Wednesday, July 8th. Three equities research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Strong Sell” and a consensus price target of $23.50.

Beyond Meat Trading Up 4.6%

Shares of Beyond Meat stock opened at $11.79 on Friday. The business has a fifty day simple moving average of $16.53 and a 200-day simple moving average of $20.60. Beyond Meat has a fifty-two week low of $10.71 and a fifty-two week high of $230.70. The firm has a market cap of $202.67 million, a price-to-earnings ratio of -0.21 and a beta of 2.76. The company has a quick ratio of 2.07, a current ratio of 2.63 and a debt-to-equity ratio of 6.57.

Institutional Investors Weigh In On Beyond Meat

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

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.