Beyond Meat, Inc. (NASDAQ:BYND) Receives $5.42 Consensus PT from Analysts

Shares of Beyond Meat, Inc. (NASDAQ:BYND - Get Free Report) have been given a consensus recommendation of "Strong Sell" by the seven analysts that are currently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $5.42.

BYND has been the subject of several recent research reports. Mizuho lowered 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 note on Monday, August 26th. BMO Capital Markets lowered their price objective on shares of Beyond Meat from $9.00 to $6.00 and set a "market perform" rating for the company in a research note on Thursday, August 8th.

Beyond Meat Stock Down 0.8 %

BYND stock traded down $0.05 during mid-day trading on Monday, hitting $6.04. 2,942,789 shares of the company were exchanged, compared to its average volume of 2,900,310. The firm has a market capitalization of $392.84 million, a P/E ratio of -1.24 and a beta of 2.28. The business has a fifty day simple moving average of $6.37 and a 200-day simple moving average of $6.62. Beyond Meat has a 12-month low of $5.13 and a 12-month high of $12.12.

Beyond Meat (NASDAQ:BYND - Get Free Report) last announced its earnings results on Wednesday, August 7th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.02). The business had revenue of $93.19 million for the quarter, compared to the consensus estimate of $87.81 million. During the same period in the previous year, the business posted ($0.83) earnings per share. Beyond Meat's revenue for the quarter was down 8.8% compared to the same quarter last year. Research analysts predict that Beyond Meat will post -2.12 EPS for the current year.

Institutional Trading of Beyond Meat

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ensign Peak Advisors Inc increased its holdings in shares of Beyond Meat by 7.8% in the 2nd quarter. Ensign Peak Advisors Inc now owns 36,493 shares of the company's stock valued at $245,000 after acquiring an additional 2,650 shares during the period. Price T Rowe Associates Inc. MD increased its holdings 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 valued at $275,000 after acquiring an additional 2,790 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of 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 period. State Board of Administration of Florida Retirement System increased its holdings in shares of Beyond Meat by 30.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 22,061 shares of the company's stock valued at $183,000 after acquiring an additional 5,140 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Beyond Meat in the 2nd quarter valued at $41,000. 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.