Beyond Meat (NASDAQ:BYND) Sees Strong Trading Volume

Beyond Meat, Inc. (NASDAQ:BYNDGet Rating) shares saw unusually-strong trading volume on Wednesday . Approximately 151,051 shares traded hands during mid-day trading, a decline of 95% from the previous session’s volume of 2,993,095 shares.The stock last traded at $17.20 and had previously closed at $16.03.

Analyst Ratings Changes

Several research firms recently commented on BYND. Piper Sandler cut their target price on shares of Beyond Meat from $9.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday. Mizuho increased their target price on shares of Beyond Meat from $21.00 to $27.00 and gave the company a “neutral” rating in a research note on Monday, August 8th. Canaccord Genuity Group cut their target price on shares of Beyond Meat from $30.00 to $22.00 in a research note on Thursday. Barclays increased their target price on shares of Beyond Meat from $25.00 to $30.00 and gave the company an “equal weight” rating in a research note on Monday, August 8th. Finally, UBS Group upped their price target on shares of Beyond Meat from $20.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, August 5th. Six research analysts have rated the stock with a sell rating and ten have given a hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $40.47.

Beyond Meat Trading Down 4.1 %

The stock has a market cap of $970.94 million, a price-to-earnings ratio of -2.90 and a beta of 1.86. The company has a debt-to-equity ratio of 27.60, a quick ratio of 5.16 and a current ratio of 7.48. The company’s 50 day simple moving average is $28.64 and its two-hundred day simple moving average is $32.52.

Beyond Meat (NASDAQ:BYNDGet Rating) last released its quarterly earnings data on Thursday, August 4th. The company reported ($1.53) earnings per share for the quarter, missing the consensus estimate of ($1.22) by ($0.31). The company had revenue of $147.00 million during the quarter, compared to analyst estimates of $149.08 million. Beyond Meat had a negative net margin of 71.78% and a negative return on equity of 400.17%. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.31) EPS. Research analysts expect that Beyond Meat, Inc. will post -5.26 EPS for the current fiscal year.

Insider Transactions at Beyond Meat

In other news, insider Beth Moskowitz sold 773 shares of the stock in a transaction on Monday, August 8th. The shares were sold at an average price of $42.70, for a total transaction of $33,007.10. Following the transaction, the insider now owns 24,358 shares in the company, valued at approximately $1,040,086.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 7.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BYND. Coatue Management LLC acquired a new position in shares of Beyond Meat during the 1st quarter worth $24,363,000. SG Americas Securities LLC grew its stake in Beyond Meat by 79.8% in the 1st quarter. SG Americas Securities LLC now owns 1,052,640 shares of the company’s stock valued at $50,853,000 after buying an additional 467,339 shares during the last quarter. Northern Trust Corp grew its stake in Beyond Meat by 114.2% in the 2nd quarter. Northern Trust Corp now owns 559,446 shares of the company’s stock valued at $13,393,000 after buying an additional 298,321 shares during the last quarter. Ninety One UK Ltd grew its stake in Beyond Meat by 16.2% in the 1st quarter. Ninety One UK Ltd now owns 1,375,607 shares of the company’s stock valued at $66,456,000 after buying an additional 192,289 shares during the last quarter. Finally, Davy Global Fund Management Ltd grew its stake in Beyond Meat by 137.4% in the 1st quarter. Davy Global Fund Management Ltd now owns 256,494 shares of the company’s stock valued at $12,391,000 after buying an additional 148,458 shares during the last quarter. Institutional investors and hedge funds own 60.98% of the company’s stock.

Beyond Meat Company Profile

(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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