Barclays Cuts Beyond Meat (NASDAQ:BYND) Price Target to $3.00

Beyond Meat (NASDAQ:BYND - Get Free Report) had its target price reduced by analysts at Barclays from $4.00 to $3.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an "underweight" rating on the stock. Barclays's price target indicates a potential downside of 2.60% from the stock's previous close.

Beyond Meat Trading Down 2.5 %

Shares of BYND stock traded down $0.08 during trading hours on Thursday, hitting $3.08. The company's stock had a trading volume of 4,362,483 shares, compared to its average volume of 3,654,340. The stock has a market cap of $200.83 million, a PE ratio of -0.74 and a beta of 2.31. Beyond Meat has a 12-month low of $2.99 and a 12-month high of $10.31. The company has a 50 day moving average of $3.86 and a 200 day moving average of $5.10.

Beyond Meat (NASDAQ:BYND - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.21). The business had revenue of $76.66 million for the quarter, compared to the consensus estimate of $76.08 million. As a group, analysts anticipate that Beyond Meat will post -2.1 earnings per share for the current fiscal year.

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Insiders Place Their Bets

In other news, insider Ethan Brown sold 313,000 shares of Beyond Meat stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $3.75, for a total transaction of $1,173,750.00. Following the completion of the transaction, the insider now directly owns 1,703,288 shares of the company's stock, valued at $6,387,330. The trade was a 15.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.60% of the company's stock.

Institutional Trading of Beyond Meat

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

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.