Beyond Meat, Inc. (NASDAQ:BYND) Director Chelsea A. Grayson Sells 3,330 Shares

Beyond Meat, Inc. (NASDAQ:BYND) Director Chelsea A. Grayson sold 3,330 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $3.29, for a total transaction of $10,955.70. Following the completion of the sale, the director now directly owns 47,029 shares of the company’s stock, valued at approximately $154,725.41. This trade represents a 6.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Beyond Meat Stock Up 3.0 %

BYND stock opened at $3.39 on Friday. The firm has a 50 day moving average of $3.75 and a 200 day moving average of $4.90. The stock has a market capitalization of $258.08 million, a PE ratio of -0.81 and a beta of 2.36. Beyond Meat, Inc. has a 52 week low of $2.86 and a 52 week high of $10.31.

Beyond Meat (NASDAQ:BYND) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.21). The company had revenue of $76.66 million for the quarter, compared to the consensus estimate of $76.08 million. On average, equities research analysts expect that Beyond Meat, Inc. will post -2.1 earnings per share for the current year.

Institutional Trading of Beyond Meat

A number of hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. grew its position in shares of Beyond Meat by 305.1% during the 4th quarter. Russell Investments Group Ltd. now owns 7,887 shares of the company’s stock valued at $30,000 after acquiring an additional 5,940 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Beyond Meat in the 4th quarter valued at about $37,000. Ballentine Partners LLC purchased a new position in Beyond Meat in the fourth quarter worth approximately $39,000. Van ECK Associates Corp boosted 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 worth $39,000 after buying an additional 4,280 shares during the period. Finally, Ameriprise Financial Inc. purchased a new stake in Beyond Meat in the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 52.48% of the company’s stock.

Wall Street Analysts Forecast Growth

BYND has been the topic of a number of recent research reports. Barclays dropped their price target on Beyond Meat from $4.00 to $3.00 and set an “underweight” rating on the stock in a research report on Thursday, February 27th. BMO Capital Markets cut their target price on shares of Beyond Meat from $6.00 to $5.00 and set a “market perform” rating on the stock in a research report on Thursday, February 27th. Four research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. Based on data from MarketBeat, Beyond Meat presently has an average rating of “Reduce” and an average price target of $4.92.

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.