Bayesian Capital Management LP Takes $514,000 Position in Beyond Meat, Inc. (NASDAQ:BYND)

Bayesian Capital Management LP bought a new stake in Beyond Meat, Inc. (NASDAQ:BYND) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 62,100 shares of the company’s stock, valued at approximately $514,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Beyond Meat by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 5,351,777 shares of the company’s stock valued at $44,313,000 after purchasing an additional 155,653 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Beyond Meat in the 1st quarter valued at $902,000. SG Americas Securities LLC boosted its stake in shares of Beyond Meat by 312.6% in the 1st quarter. SG Americas Securities LLC now owns 102,947 shares of the company’s stock valued at $852,000 after purchasing an additional 77,996 shares in the last quarter. Arbor Capital Management Inc. ADV acquired a new stake in shares of Beyond Meat in the 4th quarter valued at $752,000. Finally, Cowen AND Company LLC acquired a new stake in shares of Beyond Meat in the 4th quarter valued at $623,000. Institutional investors and hedge funds own 52.48% of the company’s stock.

Beyond Meat Stock Performance

Shares of BYND stock traded up $0.05 on Wednesday, reaching $6.19. The company had a trading volume of 199,531 shares, compared to its average volume of 2,983,976. The company has a 50-day moving average of $6.84 and a 200-day moving average of $7.21. Beyond Meat, Inc. has a 12 month low of $5.58 and a 12 month high of $17.24.

Beyond Meat (NASDAQ:BYND) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.05). The firm had revenue of $75.60 million during the quarter, compared to the consensus estimate of $75.24 million. Beyond Meat’s revenue was down 18.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.92) earnings per share. As a group, sell-side analysts expect that Beyond Meat, Inc. will post -2.11 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. BMO Capital Markets cut their price target on Beyond Meat from $10.00 to $9.00 and set a “market perform” rating for the company in a report on Thursday, May 9th. Mizuho cut their price target on Beyond Meat from $7.00 to $6.00 and set an “underperform” rating for the company in a report on Monday, April 22nd. TD Cowen dropped their price objective on Beyond Meat from $10.00 to $6.00 and set a “sell” rating for the company in a report on Wednesday, April 17th. Canaccord Genuity Group dropped their price objective on Beyond Meat from $9.00 to $7.00 and set a “hold” rating for the company in a report on Friday, May 10th. Finally, The Goldman Sachs Group dropped their price objective on Beyond Meat from $4.00 to $3.50 and set a “sell” rating for the company in a report on Thursday, May 9th. Six analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $5.56.

Beyond Meat Profile

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.