Beyond Meat, Inc. (NASDAQ:BYND) Sees Large Growth in Short Interest

Beyond Meat, Inc. (NASDAQ:BYND - Get Free Report) saw a large increase in short interest in November. As of November 15th, there was short interest totalling 27,900,000 shares, an increase of 7.2% from the October 31st total of 26,020,000 shares. Based on an average daily volume of 2,400,000 shares, the short-interest ratio is currently 11.6 days. Approximately 45.7% of the company's shares are short sold.

Beyond Meat Stock Performance

Shares of NASDAQ:BYND traded down $0.10 during midday trading on Tuesday, reaching $4.86. The company's stock had a trading volume of 3,556,577 shares, compared to its average volume of 2,976,091. The firm has a 50 day moving average price of $6.00 and a two-hundred day moving average price of $6.35. Beyond Meat has a fifty-two week low of $4.79 and a fifty-two week high of $12.12. The firm has a market capitalization of $316.87 million, a price-to-earnings ratio of -1.19 and a beta of 2.22.

Beyond Meat (NASDAQ:BYND - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.03. The company had revenue of $81.01 million for the quarter, compared to analysts' expectations of $80.13 million. During the same quarter in the prior year, the company earned ($1.09) EPS. The company's revenue was up 7.6% on a year-over-year basis. As a group, research analysts anticipate that Beyond Meat will post -2.09 earnings per share for the current year.

Institutional Investors Weigh In On Beyond Meat

Institutional investors have recently modified their holdings of the stock. Canada Pension Plan Investment Board bought a new position in shares of Beyond Meat in the second quarter worth about $41,000. Intech Investment Management LLC purchased a new position in shares of Beyond Meat in the 3rd quarter worth approximately $128,000. Headlands Technologies LLC bought a new stake in shares of Beyond Meat during the 2nd quarter worth approximately $177,000. The Manufacturers Life Insurance Company lifted its stake 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 last quarter. Finally, MUFG Securities EMEA plc raised its position in Beyond Meat by 29.8% during the 2nd quarter. MUFG Securities EMEA plc now owns 27,413 shares of the company's stock valued at $184,000 after purchasing an additional 6,300 shares in the last quarter. 52.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Mizuho dropped 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 report on Monday, August 26th. BMO Capital Markets decreased 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 report on Thursday, August 8th. Three analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $5.50.

Beyond Meat Company Profile

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.