Beyond Meat, Inc. (NASDAQ:BYND) Sees Significant Increase in Short Interest

Beyond Meat, Inc. (NASDAQ:BYND) saw a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 31,170,000 shares, a growth of 13.0% from the December 31st total of 27,590,000 shares. Based on an average daily trading volume, of 3,270,000 shares, the days-to-cover ratio is presently 9.5 days. Currently, 51.4% of the shares of the company are short sold.

Insider Activity at Beyond Meat

In related news, insider Ethan Brown sold 313,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $3.75, for a total transaction of $1,173,750.00. Following the sale, the insider now directly owns 1,703,288 shares in the company, valued at approximately $6,387,330. This represents a 15.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BYND. Perigon Wealth Management LLC grew its position in Beyond Meat by 25.9% during the fourth quarter. Perigon Wealth Management LLC now owns 14,530 shares of the company’s stock worth $55,000 after buying an additional 2,986 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Beyond Meat by 17.3% in the second quarter. The Manufacturers Life Insurance Company now owns 26,469 shares of the company’s stock worth $178,000 after buying an additional 3,902 shares in the last quarter. Van ECK Associates Corp grew its stake in Beyond Meat by 68.8% during the fourth quarter. Van ECK Associates Corp now owns 10,498 shares of the company’s stock valued at $39,000 after acquiring an additional 4,280 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Beyond Meat by 16.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,901 shares of the company’s stock valued at $257,000 after purchasing an additional 5,419 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Beyond Meat by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 522,894 shares of the company’s stock worth $3,545,000 after purchasing an additional 7,332 shares during the last quarter. 52.48% of the stock is currently owned by institutional investors.

Beyond Meat Stock Performance

Shares of NASDAQ BYND traded down $0.17 during trading on Monday, reaching $3.79. The stock had a trading volume of 2,886,178 shares, compared to its average volume of 3,379,336. Beyond Meat has a one year low of $3.30 and a one year high of $12.12. The stock has a market cap of $247.12 million, a PE ratio of -0.91 and a beta of 2.26. The firm’s 50 day moving average price is $4.07 and its two-hundred day moving average price is $5.40.

Beyond Meat (NASDAQ:BYND) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.03. The firm had revenue of $81.01 million during the quarter, compared to analyst estimates of $80.13 million. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the company earned ($1.09) EPS. On average, research analysts expect that Beyond Meat will post -2.09 earnings per share for the current 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.