Beyond Meat (NASDAQ:BYND) Given New $6.00 Price Target at Mizuho

Beyond Meat (NASDAQ:BYND) had its price objective trimmed by Mizuho from $7.00 to $6.00 in a research note released on Monday morning, Benzinga reports. The brokerage currently has an underperform rating on the stock.

Several other analysts also recently weighed in on BYND. BMO Capital Markets boosted their target price on shares of Beyond Meat from $7.00 to $10.00 and gave the stock a market perform rating in a research report on Wednesday, February 28th. Argus raised Beyond Meat from a sell rating to a hold rating in a research report on Thursday, February 29th. Finally, TD Cowen lowered their price target on Beyond Meat from $10.00 to $6.00 and set a sell rating for the company in a research report on Wednesday, April 17th. Five research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to MarketBeat.com, Beyond Meat currently has an average rating of Reduce and a consensus price target of $5.83.

Beyond Meat Price Performance

Shares of BYND stock opened at $6.16 on Monday. The stock’s fifty day moving average price is $7.71 and its 200 day moving average price is $7.67. Beyond Meat has a 1-year low of $5.58 and a 1-year high of $19.25. The company has a market cap of $398.43 million, a price-to-earnings ratio of -1.18 and a beta of 2.41.

Beyond Meat (NASDAQ:BYND) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($2.40) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($1.58). The business had revenue of $73.68 million during the quarter, compared to analyst estimates of $66.66 million. During the same period in the previous year, the company posted ($1.05) earnings per share. The business’s quarterly revenue was down 7.8% on a year-over-year basis. As a group, equities research analysts anticipate that Beyond Meat will post -2.46 earnings per share for the current year.

Institutional Investors Weigh In On Beyond Meat

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BYND. Olympiad Research LP grew its holdings in Beyond Meat by 5.1% during the fourth quarter. Olympiad Research LP now owns 30,592 shares of the company’s stock worth $272,000 after acquiring an additional 1,477 shares during the period. Arizona State Retirement System grew its stake in shares of Beyond Meat by 9.4% during the 4th quarter. Arizona State Retirement System now owns 17,999 shares of the company’s stock worth $160,000 after purchasing an additional 1,541 shares during the period. Gotham Asset Management LLC increased its holdings in shares of Beyond Meat by 5.6% during the 3rd quarter. Gotham Asset Management LLC now owns 31,165 shares of the company’s stock valued at $300,000 after purchasing an additional 1,646 shares in the last quarter. Banque Cantonale Vaudoise increased its holdings in shares of Beyond Meat by 117.4% during the 1st quarter. Banque Cantonale Vaudoise now owns 3,220 shares of the company’s stock valued at $26,000 after purchasing an additional 1,739 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Beyond Meat by 5.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 58,921 shares of the company’s stock valued at $567,000 after purchasing an additional 3,143 shares during the period. 52.48% of the stock is owned by institutional investors and hedge funds.

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.