Beyond Meat, Inc. (NASDAQ:BYND) Receives Average Rating of “Strong Sell” from Analysts

Shares of Beyond Meat, Inc. (NASDAQ:BYND) have been given an average rating of “Strong Sell” by the nine ratings firms that are currently covering the company, MarketBeat.com reports. Six analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $5.56.

Several research analysts recently commented on the company. The Goldman Sachs Group cut their price target on Beyond Meat from $4.00 to $3.50 and set a “sell” rating on the stock in a research note on Thursday, May 9th. Canaccord Genuity Group cut their price objective on Beyond Meat from $9.00 to $7.00 and set a “hold” rating on the stock in a research note on Friday, May 10th. TD Cowen cut their price objective on Beyond Meat from $10.00 to $6.00 and set a “sell” rating on the stock in a research note on Wednesday, April 17th. BMO Capital Markets cut their price objective on Beyond Meat from $10.00 to $9.00 and set a “market perform” rating on the stock in a research note on Thursday, May 9th. Finally, Mizuho cut their price objective on Beyond Meat from $7.00 to $6.00 and set an “underperform” rating on the stock in a research note on Monday, April 22nd.

Hedge Funds Weigh In On Beyond Meat

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BYND. Charles Schwab Investment Management Inc. grew its holdings in Beyond Meat by 6.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 483,732 shares of the company’s stock worth $4,654,000 after buying an additional 30,998 shares in the last quarter. Kestra Advisory Services LLC bought a new position in Beyond Meat in the 3rd quarter worth approximately $161,000. Gotham Asset Management LLC grew its holdings in Beyond Meat by 5.6% in the 3rd quarter. Gotham Asset Management LLC now owns 31,165 shares of the company’s stock worth $300,000 after buying an additional 1,646 shares in the last quarter. Compagnie Lombard Odier SCmA grew its holdings in Beyond Meat by 16.3% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 25,000 shares of the company’s stock worth $222,000 after buying an additional 3,500 shares in the last quarter. Finally, Raymond James & Associates bought a new position in Beyond Meat in the 4th quarter worth approximately $209,000. 52.48% of the stock is owned by institutional investors.

Beyond Meat Price Performance

Shares of BYND opened at $6.80 on Tuesday. Beyond Meat has a 12 month low of $5.58 and a 12 month high of $19.25. The stock’s 50-day moving average is $7.17 and its two-hundred day moving average is $7.46. The stock has a market cap of $441.25 million, a PE ratio of -1.32 and a beta of 2.26.

Beyond Meat (NASDAQ:BYND) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.05). The company had revenue of $75.60 million during the quarter, compared to analyst estimates of $75.24 million. During the same quarter last year, the business posted ($0.92) EPS. The business’s quarterly revenue was down 18.0% on a year-over-year basis. On average, research analysts anticipate that Beyond Meat will post -2.11 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.