Shares of Beyond Meat, Inc. (NASDAQ:BYND – Get Rating) have been assigned a consensus recommendation of “Hold” from the nineteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a sell rating and nine have issued a hold rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $44.82.
A number of brokerages recently issued reports on BYND. HSBC raised Beyond Meat from a “reduce” rating to a “hold” rating and set a $62.00 target price for the company in a research report on Friday, January 21st. UBS Group initiated coverage on Beyond Meat in a research report on Wednesday, March 30th. They set a “neutral” rating and a $48.00 price objective for the company. Bank of America decreased their price objective on Beyond Meat from $55.00 to $45.00 and set an “underperform” rating for the company in a research report on Friday, February 25th. Cowen decreased their price objective on Beyond Meat from $42.00 to $26.00 in a research report on Thursday. Finally, Zacks Investment Research raised Beyond Meat from a “sell” rating to a “hold” rating in a research report on Tuesday, April 26th.
Shares of Beyond Meat stock traded up $6.16 during trading hours on Friday, hitting $31.24. The company’s stock had a trading volume of 9,797,503 shares, compared to its average volume of 3,328,195. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of -7.75 and a beta of 1.68. The company has a debt-to-equity ratio of 8.53, a quick ratio of 8.60 and a current ratio of 11.17. Beyond Meat has a twelve month low of $20.50 and a twelve month high of $160.28. The firm has a fifty day moving average of $42.09 and a 200-day moving average of $59.26.
In related news, Director Diane Carhart sold 5,048 shares of the firm’s stock in a transaction that occurred on Wednesday, April 13th. The stock was sold at an average price of $43.20, for a total value of $218,073.60. Following the completion of the transaction, the director now directly owns 1,540 shares of the company’s stock, valued at approximately $66,528. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 7.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CarsonAllaria Wealth Management Ltd. purchased a new position in Beyond Meat during the fourth quarter worth $28,000. Parallel Advisors LLC increased its position in Beyond Meat by 110.3% during the first quarter. Parallel Advisors LLC now owns 614 shares of the company’s stock worth $30,000 after buying an additional 322 shares in the last quarter. PSI Advisors LLC purchased a new position in Beyond Meat during the third quarter worth $37,000. Rosenberg Matthew Hamilton increased its position in Beyond Meat by 44.0% during the fourth quarter. Rosenberg Matthew Hamilton now owns 583 shares of the company’s stock worth $38,000 after buying an additional 178 shares in the last quarter. Finally, Samalin Investment Counsel LLC increased its position in Beyond Meat by 1,657.1% during the fourth quarter. Samalin Investment Counsel LLC now owns 615 shares of the company’s stock worth $40,000 after buying an additional 580 shares in the last quarter. 67.15% of the stock is owned by hedge funds and other institutional investors.
About Beyond Meat (Get Rating)
Beyond Meat, Inc 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 store, convenience store and natural retailer channels, and direct-to-consumer, as well as various food-away-from-home channels, including restaurants, foodservice outlets, and schools.
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