Beyond Meat, Inc. (NASDAQ:BYND) Given Consensus Rating of “Strong Sell” by Analysts

Beyond Meat, Inc. (NASDAQ:BYND) has received an average rating of “Strong Sell” from the six research firms that are covering the company, MarketBeat reports. Four investment analysts have rated the stock with a sell recommendation and two have given a hold recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $4.92.

Several equities analysts have commented on BYND shares. Barclays lowered their price objective on shares of Beyond Meat from $4.00 to $3.00 and set an “underweight” rating for the company in a research report on Thursday, February 27th. BMO Capital Markets lowered 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.

Insider Activity

In other news, insider Ethan Brown sold 313,000 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $3.75, for a total value of $1,173,750.00. Following the sale, the insider now directly owns 1,703,288 shares in the company, valued at approximately $6,387,330. This represents a 15.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Beyond Meat

Several hedge funds have recently bought and sold shares of BYND. Vontobel Holding Ltd. boosted its stake in shares of Beyond Meat by 128.7% during the fourth quarter. Vontobel Holding Ltd. now owns 1,302,941 shares of the company’s stock valued at $4,899,000 after purchasing an additional 733,168 shares during the period. Zweig DiMenna Associates LLC bought a new stake in Beyond Meat during the 4th quarter valued at about $1,746,000. Millennium Management LLC boosted its position in Beyond Meat by 73.8% in the 4th quarter. Millennium Management LLC now owns 619,957 shares of the company’s stock valued at $2,331,000 after buying an additional 263,337 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in Beyond Meat in the 4th quarter worth about $796,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Beyond Meat during the fourth quarter worth approximately $382,000. Institutional investors own 52.48% of the company’s stock.

Beyond Meat Stock Down 2.5 %

Shares of Beyond Meat stock opened at $3.08 on Thursday. Beyond Meat has a twelve month low of $2.98 and a twelve month high of $10.31. The business has a 50-day moving average price of $3.85 and a 200-day moving average price of $5.08. The firm has a market cap of $200.83 million, a price-to-earnings ratio of -0.74 and a beta of 2.31.

Beyond Meat (NASDAQ:BYND) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.21). The business had revenue of $76.66 million during the quarter, compared to analyst estimates of $76.08 million. On average, equities analysts expect that Beyond Meat will post -2.1 EPS for the current fiscal 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.