Beyond Meat, Inc. (NASDAQ:BYND) Given Average Recommendation of “Strong Sell” by Analysts

Beyond Meat, Inc. (NASDAQ:BYND) has been given a consensus rating of “Strong Sell” by the nine ratings firms that are currently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $5.56.

BYND has been the topic of several research analyst reports. BMO Capital Markets decreased their target price on shares of Beyond Meat from $10.00 to $9.00 and set a “market perform” rating on the stock in a research report on Thursday, May 9th. Mizuho decreased their price objective on shares of Beyond Meat from $7.00 to $6.00 and set an “underperform” rating on the stock in a report on Monday, April 22nd. Canaccord Genuity Group dropped their target price on shares of Beyond Meat from $9.00 to $7.00 and set a “hold” rating for the company in a report on Friday, May 10th. The Goldman Sachs Group decreased their price target on Beyond Meat from $4.00 to $3.50 and set a “sell” rating on the stock in a research note on Thursday, May 9th. Finally, 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 research note on Wednesday, April 17th.

Beyond Meat Stock Up 2.3 %

NASDAQ BYND opened at $6.28 on Friday. Beyond Meat has a 52-week low of $5.58 and a 52-week high of $17.24. The firm has a 50-day moving average price of $6.82 and a 200 day moving average price of $7.21. The stock has a market capitalization of $407.51 million, a P/E ratio of -1.22 and a beta of 2.26.

Beyond Meat (NASDAQ:BYND) last issued its earnings results on Wednesday, May 8th. The company reported ($0.72) earnings per share (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 analyst estimates of $75.24 million. During the same period last year, the business posted ($0.92) earnings per share. The company’s quarterly revenue was down 18.0% on a year-over-year basis. On average, equities research analysts expect that Beyond Meat will post -2.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Beyond Meat

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Beyond Meat by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 5,351,777 shares of the company’s stock worth $44,313,000 after purchasing an additional 155,653 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Beyond Meat by 141.8% in the second quarter. SG Americas Securities LLC now owns 248,921 shares of the company’s stock valued at $1,670,000 after buying an additional 145,974 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Beyond Meat by 5.3% during the second quarter. Bank of New York Mellon Corp now owns 235,016 shares of the company’s stock valued at $1,577,000 after buying an additional 11,800 shares during the period. Raymond James & Associates acquired a new stake in Beyond Meat during the second quarter worth approximately $1,463,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Beyond Meat in the 1st quarter worth approximately $902,000. 52.48% of the stock is owned by institutional investors and hedge funds.

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.