Beyond Meat, Inc. (NASDAQ:BYND – Get Free Report) shares traded down 6.4% during trading on Monday . The company traded as low as $7.63 and last traded at $7.75. 1,365,338 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 3,651,920 shares. The stock had previously closed at $8.28.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on BYND shares. Argus upgraded Beyond Meat from a “sell” rating to a “hold” rating in a research note on Thursday, February 29th. BMO Capital Markets increased their target price on shares of Beyond Meat from $7.00 to $10.00 and gave the company a “market perform” rating in a research report on Wednesday, February 28th. Finally, Mizuho lifted their price target on shares of Beyond Meat from $5.00 to $7.00 and gave the stock an “underperform” rating in a research note on Thursday, February 29th. Five research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $6.67.
Beyond Meat Stock Down 6.3 %
The company has a fifty day moving average of $7.64 and a two-hundred day moving average of $7.97. The stock has a market capitalization of $501.89 million, a price-to-earnings ratio of -1.48 and a beta of 2.44.
Beyond Meat (NASDAQ:BYND – Get Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($2.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($1.58). The firm had revenue of $73.68 million for the quarter, compared to analyst estimates of $66.66 million. During the same quarter last year, the business posted ($1.05) EPS. The firm’s revenue for the quarter was down 7.8% on a year-over-year basis. Equities analysts anticipate that Beyond Meat, Inc. will post -2.46 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Beyond Meat
A number of institutional investors and hedge funds have recently made changes to their positions in BYND. Vanguard Group Inc. boosted its position in shares of Beyond Meat by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 5,709,781 shares of the company’s stock worth $80,907,000 after buying an additional 150,345 shares in the last quarter. Morgan Stanley grew its stake in shares of Beyond Meat by 46.1% during the 3rd quarter. Morgan Stanley now owns 1,943,783 shares of the company’s stock valued at $18,699,000 after buying an additional 613,491 shares during the period. Geode Capital Management LLC increased its stake in Beyond Meat by 2.1% during the second quarter. Geode Capital Management LLC now owns 1,191,135 shares of the company’s stock worth $15,461,000 after acquiring an additional 24,831 shares during the last quarter. Northern Trust Corp raised its holdings in Beyond Meat by 1.4% in the third quarter. Northern Trust Corp now owns 565,785 shares of the company’s stock valued at $5,443,000 after buying an additional 7,835 shares during the period. Finally, Norges Bank purchased a new stake in shares of Beyond Meat in the fourth quarter worth about $6,875,000. 52.48% of the stock is owned by institutional investors and hedge funds.
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.