Beyond Meat, Inc. (NASDAQ:BYND) Given Consensus Rating of “Reduce” by Analysts

Shares of Beyond Meat, Inc. (NASDAQ:BYND) have earned an average recommendation of “Reduce” from the six analysts that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $5.50.

Separately, Barclays dropped their target price on shares of Beyond Meat from $4.00 to $3.00 and set an “underweight” rating on the stock in a report on Thursday.

Insider Buying and Selling

In other news, insider Ethan Brown sold 313,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $3.75, for a total value of $1,173,750.00. Following the completion of the sale, the insider now owns 1,703,288 shares of the company’s stock, valued at $6,387,330. This trade represents a 15.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 8.60% of the stock is currently owned by company insiders.

Institutional Trading of Beyond Meat

A number of institutional investors have recently bought and sold shares of the stock. Vontobel Holding Ltd. raised its holdings in shares of Beyond Meat by 128.7% in the fourth quarter. Vontobel Holding Ltd. now owns 1,302,941 shares of the company’s stock worth $4,899,000 after buying an additional 733,168 shares during the last quarter. Charles Schwab Investment Management Inc. lifted 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 acquiring an additional 7,332 shares during the period. Zweig DiMenna Associates LLC purchased a new stake in Beyond Meat during the 4th quarter valued at about $1,746,000. Ballentine Partners LLC acquired a new position in shares of Beyond Meat in the fourth quarter valued at about $39,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Beyond Meat by 16.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,901 shares of the company’s stock worth $257,000 after purchasing an additional 5,419 shares during the last quarter. 52.48% of the stock is currently owned by institutional investors and hedge funds.

Beyond Meat Stock Down 6.0 %

NASDAQ BYND traded down $0.22 during trading hours on Thursday, hitting $3.35. 2,190,933 shares of the company were exchanged, compared to its average volume of 3,431,268. The stock has a market cap of $218.10 million, a PE ratio of -0.80 and a beta of 2.31. Beyond Meat has a 52 week low of $3.30 and a 52 week high of $12.12. The stock has a 50-day moving average price of $3.87 and a 200 day moving average price of $5.14.

Beyond Meat (NASDAQ:BYND) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.21). The company had revenue of $76.66 million during the quarter, compared to the consensus estimate of $76.08 million. As a group, sell-side analysts anticipate that Beyond Meat will post -2.1 earnings per share 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.