Beyond Meat Sees Unusually High Options Volume (NASDAQ:BYND)

Beyond Meat, Inc. (NASDAQ:BYND) was the target of some unusual options trading on Friday. Stock traders purchased 44,589 call options on the company. This is an increase of approximately 42% compared to the average volume of 31,350 call options.

Beyond Meat Stock Performance

NASDAQ:BYND opened at $6.36 on Friday. The stock has a market capitalization of $412.67 million, a price-to-earnings ratio of -1.23 and a beta of 2.25. Beyond Meat has a 1 year low of $5.13 and a 1 year high of $12.12. The stock has a fifty day moving average price of $6.16 and a two-hundred day moving average price of $6.89.

Beyond Meat (NASDAQ:BYND) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.02). The firm had revenue of $93.19 million for the quarter, compared to analyst estimates of $87.81 million. The firm’s quarterly revenue was down 8.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.83) EPS. On average, analysts predict that Beyond Meat will post -2.12 EPS for the current year.

Wall Street Analysts Forecast Growth

BYND has been the subject of several recent research reports. BMO Capital Markets decreased their price target on Beyond Meat from $9.00 to $6.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. Mizuho cut their price objective on shares of Beyond Meat from $6.00 to $5.00 and set an “underperform” rating for the company in a research report on Monday, August 26th. Six research analysts have rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $5.06.

Institutional Investors Weigh In On Beyond Meat

A number of hedge funds and other institutional investors have recently modified their holdings of BYND. Olympiad Research LP increased its stake in Beyond Meat by 5.1% in the 4th quarter. Olympiad Research LP now owns 30,592 shares of the company’s stock valued at $272,000 after purchasing an additional 1,477 shares in the last quarter. Banque Cantonale Vaudoise raised its stake in shares of Beyond Meat by 117.4% during the 1st quarter. Banque Cantonale Vaudoise now owns 3,220 shares of the company’s stock worth $26,000 after buying an additional 1,739 shares during the last quarter. Ensign Peak Advisors Inc raised its stake in shares of Beyond Meat by 7.8% during the 2nd quarter. Ensign Peak Advisors Inc now owns 36,493 shares of the company’s stock worth $245,000 after buying an additional 2,650 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Beyond Meat by 9.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 33,104 shares of the company’s stock worth $275,000 after buying an additional 2,790 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Beyond Meat by 17.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 26,469 shares of the company’s stock valued at $178,000 after acquiring an additional 3,902 shares during the last quarter. 52.48% of the stock is currently owned by institutional investors and hedge funds.

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.