Beyond Meat, Inc. (NASDAQ:BYND) Short Interest Update

Beyond Meat, Inc. (NASDAQ:BYND - Get Free Report) saw a large growth in short interest in October. As of October 15th, there was short interest totalling 26,150,000 shares, a growth of 5.6% from the September 30th total of 24,770,000 shares. Currently, 42.9% of the company's stock are sold short. Based on an average trading volume of 2,720,000 shares, the short-interest ratio is presently 9.6 days.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BYND. BMO Capital Markets decreased their target price 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. Mizuho cut their target price 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. Five equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus price target of $5.36.

Institutional Trading of Beyond Meat

A number of institutional investors have recently bought and sold shares of the business. Ensign Peak Advisors Inc raised its stake in Beyond Meat by 7.8% in the second quarter. Ensign Peak Advisors Inc now owns 36,493 shares of the company's stock valued at $245,000 after purchasing an additional 2,650 shares in the last quarter. Price T Rowe Associates Inc. MD raised 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 valued at $275,000 after buying an additional 2,790 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Beyond Meat by 17.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 26,469 shares of the company's stock worth $178,000 after acquiring an additional 3,902 shares during the period. State Board of Administration of Florida Retirement System boosted its position in shares of Beyond Meat by 30.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 22,061 shares of the company's stock worth $183,000 after acquiring an additional 5,140 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in Beyond Meat during the second quarter valued at approximately $41,000. Institutional investors own 52.48% of the company's stock.

Beyond Meat Stock Down 0.6 %

Shares of Beyond Meat stock traded down $0.04 on Thursday, hitting $6.14. The stock had a trading volume of 1,923,111 shares, compared to its average volume of 2,901,300. The stock has a market cap of $398.39 million, a price-to-earnings ratio of -1.20 and a beta of 2.26. Beyond Meat has a twelve month low of $5.13 and a twelve month high of $12.12. The business's 50 day moving average is $6.38 and its two-hundred day moving average is $6.62.

Beyond Meat (NASDAQ:BYND - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $87.81 million. During the same quarter last year, the firm earned ($0.83) EPS. Beyond Meat's revenue for the quarter was down 8.8% on a year-over-year basis. As a group, equities analysts predict that Beyond Meat will post -2.12 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.