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

Beyond Meat, Inc. (NASDAQ:BYND) has received an average rating of “Strong Sell” from the eight research firms that are currently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $5.36.

BYND has been the subject of a number of recent analyst reports. Mizuho decreased their price objective on shares of Beyond Meat from $6.00 to $5.00 and set an “underperform” rating for the company in a research note on Monday, August 26th. BMO Capital Markets decreased their target price on Beyond Meat from $9.00 to $6.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th.

Institutional Trading of Beyond Meat

Several hedge funds and other institutional investors have recently modified their holdings of BYND. Raymond James & Associates acquired a new position in Beyond Meat in the 2nd quarter worth about $1,463,000. Vanguard Group Inc. increased its holdings in Beyond Meat by 3.0% in the first quarter. Vanguard Group Inc. now owns 5,351,777 shares of the company’s stock worth $44,313,000 after buying an additional 155,653 shares during the last quarter. SG Americas Securities LLC raised its position in Beyond Meat by 141.8% during the second quarter. SG Americas Securities LLC now owns 248,921 shares of the company’s stock valued at $1,670,000 after acquiring an additional 145,974 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Beyond Meat in the first quarter valued at approximately $902,000. Finally, Arbor Capital Management Inc. ADV bought a new stake in Beyond Meat in the fourth quarter worth approximately $752,000. 52.48% of the stock is currently owned by hedge funds and other institutional investors.

Beyond Meat Stock Up 0.5 %

Shares of Beyond Meat stock opened at $6.36 on Friday. Beyond Meat has a 12-month low of $5.13 and a 12-month high of $12.12. The firm has a market capitalization of $412.67 million, a PE ratio of -1.23 and a beta of 2.25. The stock’s fifty day moving average is $6.16 and its 200-day moving average is $6.89.

Beyond Meat (NASDAQ:BYND) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.02). The business had revenue of $93.19 million during the quarter, compared to analysts’ expectations of $87.81 million. During the same quarter in the previous year, the firm posted ($0.83) EPS. The company’s revenue for the quarter was down 8.8% on a year-over-year basis. Analysts expect that Beyond Meat will post -2.12 EPS for the current 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.