Investors Buy Large Volume of Call Options on Beyond Meat (NASDAQ:BYND)

Beyond Meat, Inc. (NASDAQ:BYND) was the target of some unusual options trading on Tuesday. Stock investors purchased 25,683 call options on the company. This represents an increase of 62% compared to the average volume of 15,863 call options.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Barclays decreased their price target on Beyond Meat from $3.00 to $2.00 and set an “underweight” rating for the company in a research note on Thursday, May 8th. BMO Capital Markets reduced their price target on shares of Beyond Meat from $6.00 to $5.00 and set a “market perform” rating for the company in a report on Thursday, February 27th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Vontobel Holding Ltd. lifted its stake in Beyond Meat by 35.0% in the 1st quarter. Vontobel Holding Ltd. now owns 1,758,904 shares of the company’s stock valued at $5,365,000 after buying an additional 455,963 shares in the last quarter. Geode Capital Management LLC raised its position in Beyond Meat by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 1,432,180 shares of the company’s stock valued at $5,387,000 after purchasing an additional 18,438 shares during the period. SG Americas Securities LLC lifted its position in Beyond Meat by 5,060.0% in the first quarter. SG Americas Securities LLC now owns 1,187,011 shares of the company’s stock valued at $3,620,000 after buying an additional 1,164,007 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Beyond Meat by 73.8% in the 4th quarter. Millennium Management LLC now owns 619,957 shares of the company’s stock worth $2,331,000 after acquiring an additional 263,337 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Beyond Meat by 9.6% during the fourth quarter. Northern Trust Corp now owns 595,612 shares of the company’s stock worth $2,240,000 after buying an additional 52,150 shares during the period. Institutional investors and hedge funds own 52.48% of the company’s stock.

Beyond Meat Trading Down 0.6%

Shares of BYND stock opened at $3.41 on Wednesday. The business’s fifty day simple moving average is $2.76 and its 200-day simple moving average is $3.45. Beyond Meat has a 12-month low of $2.23 and a 12-month high of $9.24. The company has a market cap of $260.77 million, a PE ratio of -0.82 and a beta of 2.15.

Beyond Meat (NASDAQ:BYND) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.52) by ($0.15). The firm’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.84) EPS. On average, equities analysts forecast that Beyond Meat will post -2.1 earnings per share for the current year.

Beyond Meat Company Profile

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.