Brokerages Set Beyond Meat, Inc. (NASDAQ:BYND) Target Price at $4.92

Shares of Beyond Meat, Inc. (NASDAQ:BYND - Get Free Report) have received an average recommendation of "Strong Sell" from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a sell recommendation and two have issued a hold recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $4.92.

A number of research firms recently issued reports on BYND. Barclays lowered their target price on Beyond Meat from $4.00 to $3.00 and set an "underweight" rating for the company in a research note on Thursday, February 27th. BMO Capital Markets decreased their price target on Beyond Meat from $6.00 to $5.00 and set a "market perform" rating for the company in a research note on Thursday, February 27th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Vontobel Holding Ltd. boosted its stake in shares of Beyond Meat by 128.7% in the 4th 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 in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Beyond Meat by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 522,894 shares of the company's stock worth $3,545,000 after acquiring an additional 7,332 shares during the period. Zweig DiMenna Associates LLC bought a new stake in shares of Beyond Meat during the 4th quarter valued at about $1,746,000. Rhumbline Advisers increased its stake in shares of Beyond Meat by 61.2% in the 4th quarter. Rhumbline Advisers now owns 131,327 shares of the company's stock valued at $494,000 after acquiring an additional 49,875 shares in the last quarter. Finally, Ballentine Partners LLC acquired a new position in Beyond Meat during the 4th quarter worth approximately $39,000. 52.48% of the stock is owned by institutional investors.

Beyond Meat Trading Up 2.2 %

Beyond Meat stock traded up $0.07 during mid-day trading on Monday, hitting $3.31. The stock had a trading volume of 1,348,722 shares, compared to its average volume of 2,970,350. The stock has a 50-day simple moving average of $3.71 and a two-hundred day simple moving average of $4.75. The stock has a market capitalization of $251.99 million, a PE ratio of -0.79 and a beta of 2.36. Beyond Meat has a 12 month low of $2.86 and a 12 month high of $10.31.

Beyond Meat (NASDAQ:BYND - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.21). The firm had revenue of $76.66 million during the quarter, compared to analyst estimates of $76.08 million. Sell-side analysts expect that Beyond Meat will post -2.1 earnings per share 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.