Beyond Meat (NASDAQ:BYND) Coverage Initiated by Analysts at TD Cowen

TD Cowen started coverage on shares of Beyond Meat (NASDAQ:BYND) in a research report sent to investors on Wednesday morning, Marketbeat.com reports. The firm issued an underperform rating and a $10.00 target price on the stock.

Several other research analysts also recently commented on BYND. Barclays dropped their target price on shares of Beyond Meat from $10.00 to $9.00 in a report on Thursday, June 1st. BMO Capital Markets decreased their price target on shares of Beyond Meat from $14.00 to $13.00 and set a market perform rating on the stock in a research report on Tuesday, August 8th. Five analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Reduce and a consensus price target of $12.50.

Beyond Meat Price Performance

Shares of BYND opened at $10.35 on Wednesday. The company has a market capitalization of $666.44 million, a PE ratio of -2.35 and a beta of 2.17. Beyond Meat has a one year low of $9.81 and a one year high of $22.87. The company’s fifty day moving average price is $13.62 and its 200 day moving average price is $13.70.

Beyond Meat (NASDAQ:BYND) last announced its earnings results on Monday, August 7th. The company reported ($0.83) EPS for the quarter, missing the consensus estimate of ($0.81) by ($0.02). The company had revenue of $102.15 million for the quarter, compared to analysts’ expectations of $108.74 million. Beyond Meat’s revenue for the quarter was down 30.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.53) EPS. Analysts anticipate that Beyond Meat will post -3.43 earnings per share for the current year.

Institutional Trading of Beyond Meat

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. MUFG Securities EMEA plc bought a new stake in Beyond Meat in the first quarter valued at about $75,000. Captrust Financial Advisors increased its stake 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 acquiring an additional 571 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Beyond Meat in the second quarter valued at about $39,000. MetLife Investment Management LLC bought a new stake in Beyond Meat in the first quarter valued at about $164,000. Finally, Cresset Asset Management LLC increased its stake in Beyond Meat by 20.4% in the first quarter. Cresset Asset Management LLC now owns 4,337 shares of the company’s stock valued at $210,000 after acquiring an additional 736 shares during the period. Institutional investors own 38.19% of the company’s stock.

Beyond Meat Company Profile

Beyond Meat, Inc develops, 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, convenience, and natural retailer channels, as well as various food-away-from-home channels, including restaurants, foodservice outlets, and schools.