Beyond Meat (NASDAQ:BYND) Trading Up 18.1% After Analyst Upgrade

Beyond Meat, Inc. (NASDAQ:BYND – Get Rating)’s stock price shot up 18.1% during mid-day trading on Friday after UBS Group raised their price target on the stock from $20.00 to $30.00. UBS Group currently has a neutral rating on the stock. Beyond Meat traded as high as $37.70 and last traded at $37.08. 96,028 shares were traded during trading, a decline of 96% from the average session volume of 2,624,184 shares. The stock had previously closed at $31.39.

A number of other research firms also recently weighed in on BYND. Barclays downgraded Beyond Meat from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $80.00 to $25.00 in a research note on Thursday, May 12th. Mizuho dropped their price target on Beyond Meat from $35.00 to $21.00 in a report on Thursday, May 12th. Piper Sandler dropped their price target on Beyond Meat from $29.00 to $12.00 in a report on Thursday, May 12th. Cowen dropped their price target on Beyond Meat from $42.00 to $26.00 in a report on Thursday, May 12th. Finally, Cowen dropped their price target on Beyond Meat from $42.00 to $26.00 in a report on Thursday, May 12th. Six research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $41.71.

Hedge Funds Weigh In On Beyond Meat

Institutional investors have recently modified their holdings of the business. State of New Jersey Common Pension Fund D lifted its stake in Beyond Meat by 86.4% in the second quarter. State of New Jersey Common Pension Fund D now owns 93,218 shares of the company’s stock valued at $2,232,000 after purchasing an additional 43,214 shares during the last quarter. Seven Eight Capital LP raised its position in shares of Beyond Meat by 81.5% in the second quarter. Seven Eight Capital LP now owns 9,933 shares of the company’s stock worth $238,000 after buying an additional 4,460 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Beyond Meat by 40.6% in the second quarter. Van ECK Associates Corp now owns 211,920 shares of the company’s stock worth $5,074,000 after buying an additional 61,215 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Beyond Meat by 4,288.9% in the second quarter. Nisa Investment Advisors LLC now owns 1,975 shares of the company’s stock valued at $47,000 after acquiring an additional 1,930 shares during the last quarter. Finally, Once Capital Management LLC increased its stake in Beyond Meat by 18.4% in the second quarter. Once Capital Management LLC now owns 64,300 shares of the company’s stock valued at $1,539,000 after acquiring an additional 10,000 shares during the last quarter. 67.15% of the stock is owned by institutional investors.

Beyond Meat Trading Up 21.9 %

The firm has a market cap of $2.43 billion, a P/E ratio of -9.49 and a beta of 1.80. The company has a debt-to-equity ratio of 27.60, a current ratio of 9.08 and a quick ratio of 6.27. The stock has a 50 day moving average of $28.67 and a 200 day moving average of $39.58.

Beyond Meat (NASDAQ:BYND – Get Rating) last released its earnings results on Thursday, August 4th. The company reported ($1.53) EPS for the quarter, missing analysts’ consensus estimates of ($1.18) by ($0.35). The firm had revenue of $147.00 million during the quarter, compared to the consensus estimate of $149.08 million. Beyond Meat had a negative net margin of 54.79% and a negative return on equity of 160.55%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.31) EPS. As a group, equities research analysts predict that Beyond Meat, Inc. will post -4.61 EPS for the current year.

About Beyond Meat

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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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