Beyond Meat, Inc. (NASDAQ:BYND) Receives $6.00 Average PT from Brokerages

Beyond Meat, Inc. (NASDAQ:BYND) has been assigned a consensus rating of “Strong Sell” from the seven brokerages that are presently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a sell recommendation and two have issued a hold recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $5.83.

Several equities analysts have recently weighed in on the company. Mizuho cut their target price on Beyond Meat from $7.00 to $6.00 and set an “underperform” rating on the stock in a research report on Monday. TD Cowen decreased their price objective on shares of Beyond Meat from $10.00 to $6.00 and set a “sell” rating for the company in a research note on Wednesday, April 17th. Argus raised Beyond Meat from a “sell” rating to a “hold” rating in a research note on Thursday, February 29th. Finally, BMO Capital Markets lifted their target price on Beyond Meat from $7.00 to $10.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 28th.

Institutional Trading of Beyond Meat

Several institutional investors and hedge funds have recently made changes to their positions in BYND. Clear Street Markets LLC purchased a new stake in shares of Beyond Meat during the third quarter valued at about $31,000. Banque Cantonale Vaudoise increased its stake in Beyond Meat by 117.4% during the 1st quarter. Banque Cantonale Vaudoise now owns 3,220 shares of the company’s stock valued at $26,000 after purchasing an additional 1,739 shares in the last quarter. Quest Partners LLC purchased a new position in shares of Beyond Meat in the fourth quarter worth $48,000. Scarborough Advisors LLC acquired a new stake in shares of Beyond Meat during the fourth quarter worth $62,000. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of Beyond Meat in the third quarter valued at about $84,000. 52.48% of the stock is currently owned by institutional investors.

Beyond Meat Trading Down 3.9 %

NASDAQ:BYND opened at $6.16 on Thursday. The company has a market capitalization of $398.43 million, a P/E ratio of -1.18 and a beta of 2.41. The business’s 50-day moving average is $7.71 and its 200 day moving average is $7.67. Beyond Meat has a 12 month low of $5.58 and a 12 month high of $19.25.

Beyond Meat (NASDAQ:BYND) last posted its earnings results on Tuesday, February 27th. The company reported ($2.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.82) by ($1.58). The firm had revenue of $73.68 million during the quarter, compared to analysts’ expectations of $66.66 million. During the same period in the prior year, the company earned ($1.05) EPS. The business’s revenue was down 7.8% on a year-over-year basis. On average, research analysts forecast that Beyond Meat will post -2.46 earnings per share for the current year.

About Beyond Meat

Beyond Meat, Inc, a plant-based meat company, 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 stores, and natural retailer channels, as well as various food-away-from-home channels, including restaurants, foodservice outlets, and schools.