Beyond Meat (NASDAQ:BYND) Trading Down 5.3% on Analyst Downgrade

Beyond Meat, Inc. (NASDAQ:BYNDGet 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

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC boosted 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 acquiring an additional 322 shares during the last quarter. Samalin Investment Counsel LLC increased its stake 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 acquiring an additional 580 shares during the last quarter. Captrust Financial Advisors raised its position in Beyond Meat by 48.6% in the second quarter. Captrust Financial Advisors now owns 1,746 shares of the company’s stock valued at $42,000 after purchasing an additional 571 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Beyond Meat by 4,288.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,975 shares of the company’s stock valued at $47,000 after purchasing an additional 1,930 shares during the last quarter. Finally, Psagot Value Holdings Ltd. Israel purchased a new position in shares of Beyond Meat during the 1st quarter worth $52,000. Institutional investors and hedge funds own 60.98% of the company’s stock.

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:BYNDGet 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

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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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