Beyond Meat, Inc. (NASDAQ:BYND – Get Rating) traded down 5.3% during trading on Thursday after Canaccord Genuity Group lowered their price target on the stock from $30.00 to $22.00. The stock traded as low as $15.01 and last traded at $15.06. 29,730 shares traded hands during trading, a decline of 99% from the average session volume of 3,106,252 shares. The stock had previously closed at $15.90.
A number of other research firms also recently issued reports on BYND. Barclays boosted 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 report on Monday, August 8th. Mizuho boosted their price objective on Beyond Meat from $21.00 to $27.00 and gave the company a “neutral” rating in a report on Monday, August 8th. Bank of America dropped their target price on Beyond Meat from $20.00 to $10.00 and set an “underperform” rating on the stock in a report on Friday, August 5th. Piper Sandler decreased their price target on Beyond Meat from $9.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday. Finally, UBS Group raised their price objective on shares of Beyond Meat from $20.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, August 5th. Six equities research analysts have rated the stock with a sell rating and ten have issued a hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $40.47.
Insider Buying and Selling
In related news, insider Beth Moskowitz sold 2,000 shares of Beyond Meat stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $37.51, for a total value of $75,020.00. Following the sale, the insider now directly owns 22,358 shares in the company, valued at approximately $838,648.58. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 7.90% of the company’s stock.
Institutional Investors Weigh In On Beyond Meat
Beyond Meat Stock Down 4.1 %
The stock has a market capitalization of $970.94 million, a price-to-earnings ratio of -2.90 and a beta of 1.86. The business has a 50-day moving average of $28.94 and a 200-day moving average of $32.71. The company has a debt-to-equity ratio of 27.60, a quick ratio of 5.16 and a current ratio of 7.48.
Beyond Meat (NASDAQ:BYND – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported ($1.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.31). Beyond Meat had a negative net margin of 71.78% and a negative return on equity of 400.17%. The company had revenue of $147.00 million for the quarter, compared to analyst estimates of $149.08 million. During the same quarter in the prior year, the business earned ($0.31) earnings per share. Beyond Meat’s revenue was down 1.6% on a year-over-year basis. On average, sell-side analysts expect that Beyond Meat, Inc. will post -5.26 EPS for the current year.
Beyond Meat Company Profile
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.
- Get a free copy of the StockNews.com research report on Beyond Meat (BYND)
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