Beyond Meat, Inc. (NASDAQ:BYND) Sees Large Growth in Short Interest

Beyond Meat, Inc. (NASDAQ:BYND) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 31,170,000 shares, a growth of 13.0% from the December 15th total of 27,590,000 shares. Based on an average daily volume of 3,270,000 shares, the short-interest ratio is presently 9.5 days. Currently, 51.4% of the shares of the company are short sold.

Insider Buying and Selling at Beyond Meat

In other news, insider Ethan Brown sold 313,000 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $3.75, for a total transaction of $1,173,750.00. Following the completion of the sale, the insider now directly owns 1,703,288 shares in the company, valued at approximately $6,387,330. This represents a 15.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Beyond Meat

A number of institutional investors have recently modified their holdings of the business. Ballentine Partners LLC acquired a new position in Beyond Meat during the fourth quarter worth about $39,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Beyond Meat by 16.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,901 shares of the company’s stock valued at $257,000 after purchasing an additional 5,419 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Beyond Meat by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 522,894 shares of the company’s stock worth $3,545,000 after purchasing an additional 7,332 shares in the last quarter. Intech Investment Management LLC bought a new position in Beyond Meat in the 3rd quarter valued at approximately $128,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its position in Beyond Meat by 42.7% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 625,396 shares of the company’s stock valued at $4,240,000 after buying an additional 186,996 shares in the last quarter. Institutional investors and hedge funds own 52.48% of the company’s stock.

Beyond Meat Trading Down 2.4 %

BYND traded down $0.10 on Friday, hitting $4.08. 5,940,722 shares of the stock were exchanged, compared to its average volume of 3,483,359. Beyond Meat has a 12 month low of $3.30 and a 12 month high of $12.12. The business has a 50-day moving average of $4.28 and a two-hundred day moving average of $5.61.

Beyond Meat (NASDAQ:BYND) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.03. The firm had revenue of $81.01 million for the quarter, compared to the consensus estimate of $80.13 million. During the same period last year, the company posted ($1.09) EPS. The business’s revenue was up 7.6% on a year-over-year basis. Analysts predict that Beyond Meat will post -2.09 EPS for the current fiscal year.

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.