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

Shares of Beyond Meat, Inc. (NASDAQ:BYND) have earned an average rating of “Strong Sell” from the six research firms that are covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a sell recommendation and two have issued a hold recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $4.92.

A number of brokerages recently issued reports on BYND. Barclays dropped their price objective on shares of Beyond Meat from $4.00 to $3.00 and set an “underweight” rating for the company in a report on Thursday, February 27th. BMO Capital Markets cut their target price on Beyond Meat from $6.00 to $5.00 and set a “market perform” rating for the company in a research note on Thursday, February 27th.

Beyond Meat Price Performance

Shares of Beyond Meat stock opened at $3.14 on Monday. The stock’s 50 day simple moving average is $3.67 and its 200-day simple moving average is $4.70. The stock has a market cap of $239.05 million, a P/E ratio of -0.75 and a beta of 2.36. Beyond Meat has a 1-year low of $2.86 and a 1-year high of $10.31.

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

Institutional Investors Weigh In On Beyond Meat

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. raised its holdings in shares of Beyond Meat by 305.1% in the 4th quarter. Russell Investments Group Ltd. now owns 7,887 shares of the company’s stock valued at $30,000 after buying an additional 5,940 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Beyond Meat in the 4th quarter valued at about $37,000. Ballentine Partners LLC purchased a new stake in Beyond Meat during the fourth quarter worth about $39,000. Van ECK Associates Corp lifted its position in shares of Beyond Meat by 68.8% during the fourth quarter. Van ECK Associates Corp now owns 10,498 shares of the company’s stock worth $39,000 after purchasing an additional 4,280 shares in the last quarter. Finally, Ameriprise Financial Inc. purchased a new position in shares of Beyond Meat in the fourth quarter valued at approximately $39,000. 52.48% of the stock is owned by hedge funds and other institutional investors.

Beyond Meat Company 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.