Traders Purchase High Volume of Call Options on Beyond Meat (NASDAQ:BYND)

Beyond Meat, Inc. (NASDAQ:BYNDGet Free Report) saw unusually large options trading on Friday. Traders acquired 34,364 call options on the stock. This is an increase of 32% compared to the average daily volume of 26,045 call options.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC bought a new position in shares of Beyond Meat during the 2nd quarter worth approximately $39,000. Vontobel Holding Ltd. lifted its holdings in Beyond Meat by 716.7% during the 3rd quarter. Vontobel Holding Ltd. now owns 359,718 shares of the company’s stock worth $3,460,000 after purchasing an additional 315,671 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Beyond Meat by 3.8% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 55,778 shares of the company’s stock worth $724,000 after purchasing an additional 2,017 shares during the last quarter. NinePointTwo Capital LLC acquired a new stake in Beyond Meat during the 2nd quarter worth approximately $315,000. Finally, Sigma Planning Corp acquired a new stake in Beyond Meat during the 3rd quarter worth approximately $98,000. 38.19% of the stock is currently owned by institutional investors.

Beyond Meat Stock Performance

Shares of NASDAQ BYND opened at $7.13 on Friday. Beyond Meat has a 52 week low of $5.58 and a 52 week high of $22.87. The stock has a market capitalization of $460.17 million, a PE ratio of -1.83 and a beta of 2.31. The stock has a 50 day moving average price of $8.17 and a 200 day moving average price of $9.19.

Beyond Meat (NASDAQ:BYNDGet Free Report) last issued its earnings results on Wednesday, November 8th. The company reported ($1.09) EPS for the quarter, missing the consensus estimate of ($0.83) by ($0.26). The firm had revenue of $75.31 million during the quarter, compared to the consensus estimate of $86.45 million. During the same period in the prior year, the company earned ($1.60) EPS. The company’s revenue for the quarter was down 8.7% compared to the same quarter last year. As a group, research analysts forecast that Beyond Meat will post -3.74 EPS for the current year.

Analyst Upgrades and Downgrades

BYND has been the subject of several recent research reports. Barclays reduced their price objective on Beyond Meat from $9.00 to $5.00 and set an “underweight” rating for the company in a research report on Thursday, November 2nd. Consumer Edge cut Beyond Meat from an “equal weight” rating to an “underweight” rating and set a $5.00 price objective for the company. in a research report on Monday, November 13th. Finally, BMO Capital Markets reduced their price objective on Beyond Meat from $13.00 to $7.00 and set a “market perform” rating for the company in a research report on Thursday, November 9th. Six research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to data from MarketBeat, Beyond Meat presently has an average rating of “Reduce” and a consensus price target of $7.88.

Get Our Latest Analysis on Beyond Meat

Beyond Meat Company Profile

(Get Free Report)

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.

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