Shares of Beyond Meat, Inc. (NASDAQ:BYND – Get Rating) dropped 7.6% during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $13.50 and last traded at $13.51. Approximately 61,755 shares traded hands during mid-day trading, a decline of 98% from the average daily volume of 3,440,720 shares. The stock had previously closed at $14.62.Specifically, insider Dariush Ajami sold 27,690 shares of the company’s stock in a transaction dated Wednesday, December 14th. The shares were sold at an average price of $14.65, for a total transaction of $405,658.50. Following the completion of the sale, the insider now directly owns 78,774 shares of the company’s stock, valued at $1,154,039.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Beyond Meat news, insider Dariush Ajami sold 27,690 shares of the company’s stock in a transaction dated Wednesday, December 14th. The shares were sold at an average price of $14.65, for a total transaction of $405,658.50. Following the completion of the sale, the insider now directly owns 78,774 shares of the company’s stock, valued at $1,154,039.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Lubi Kutua sold 15,139 shares of the company’s stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $14.38, for a total transaction of $217,698.82. Following the sale, the chief financial officer now directly owns 58,687 shares of the company’s stock, valued at $843,919.06. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,810 shares of company stock valued at $742,210. 7.90% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on BYND shares. Piper Sandler reduced their price target on shares of Beyond Meat from $9.00 to $8.00 and set an “underweight” rating for the company in a research report on Wednesday, September 21st. Canaccord Genuity Group cut their price objective on shares of Beyond Meat from $22.00 to $15.00 in a research report on Wednesday, October 12th. Canaccord Genuity Group cut their price objective on shares of Beyond Meat from $22.00 to $15.00 and set a “hold” rating on the stock in a research report on Wednesday, October 12th. BMO Capital Markets cut their price objective on shares of Beyond Meat from $20.00 to $14.00 and set a “market perform” rating on the stock in a research report on Thursday, November 10th. Finally, Argus lowered shares of Beyond Meat from a “hold” rating to a “sell” rating in a research report on Friday, December 9th. Six equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $20.19.
Beyond Meat Stock Performance
The company has a debt-to-equity ratio of 27.60, a current ratio of 7.68 and a quick ratio of 4.95. The firm has a fifty day simple moving average of $14.05 and a 200 day simple moving average of $22.08. The company has a market cap of $861.15 million, a price-to-earnings ratio of -2.44 and a beta of 1.98.
Beyond Meat (NASDAQ:BYND – Get Rating) last announced its quarterly earnings data on Wednesday, November 9th. The company reported ($1.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.11) by ($0.49). The company had revenue of $82.50 million during the quarter, compared to analyst estimates of $84.56 million. Beyond Meat had a negative return on equity of 400.17% and a negative net margin of 86.35%. The company’s revenue was down 22.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.87) EPS. On average, sell-side analysts expect that Beyond Meat, Inc. will post -5.74 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Beyond Meat
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Beyond Meat by 2.7% in the third quarter. Vanguard Group Inc. now owns 5,709,781 shares of the company’s stock worth $80,907,000 after purchasing an additional 150,345 shares during the period. Ninety One UK Ltd lifted its position in Beyond Meat by 16.2% in the first quarter. Ninety One UK Ltd now owns 1,375,607 shares of the company’s stock worth $66,456,000 after purchasing an additional 192,289 shares during the period. SG Americas Securities LLC lifted its position in Beyond Meat by 5.4% in the second quarter. SG Americas Securities LLC now owns 1,109,388 shares of the company’s stock worth $26,559,000 after purchasing an additional 56,748 shares during the period. Northern Trust Corp lifted its position in Beyond Meat by 114.2% in the second quarter. Northern Trust Corp now owns 559,446 shares of the company’s stock worth $13,393,000 after purchasing an additional 298,321 shares during the period. Finally, Coatue Management LLC bought a new position in Beyond Meat in the first quarter worth $24,363,000. Institutional investors and hedge funds own 60.98% of the company’s stock.
Beyond Meat Company Profile
Beyond Meat, Inc 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 store, convenience store and natural retailer channels, and direct-to-consumer, as well as various food-away-from-home channels, including restaurants, foodservice outlets, and schools.