Beyond Meat (NASDAQ:BYND) Downgraded to “Sell” Rating by Argus

Beyond Meat (NASDAQ:BYND) was downgraded by equities researchers at Argus from a “hold” rating to a “sell” rating in a research note issued to investors on Monday,Finviz reports.

BYND has been the topic of a number of other reports. BMO Capital Markets reduced their price objective on shares of Beyond Meat from $5.00 to $4.00 and set a “market perform” rating on the stock in a research report on Thursday, August 14th. JPMorgan Chase & Co. began coverage on shares of Beyond Meat in a research report on Wednesday, August 20th. They issued an “underweight” rating for the company. One research analyst has rated the stock with a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Beyond Meat presently has a consensus rating of “Strong Sell” and an average price target of $3.00.

Beyond Meat Price Performance

Shares of Beyond Meat stock opened at $2.68 on Monday. Beyond Meat has a 1 year low of $2.22 and a 1 year high of $7.60. The firm has a market cap of $205.42 million, a PE ratio of -1.23 and a beta of 2.22. The company has a 50 day simple moving average of $2.97 and a two-hundred day simple moving average of $3.00.

Beyond Meat (NASDAQ:BYND) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.06). The firm had revenue of $74.96 million for the quarter, compared to analysts’ expectations of $85.71 million. During the same period last year, the firm posted ($0.53) EPS. The business’s revenue was down 19.5% on a year-over-year basis. As a group, research analysts anticipate that Beyond Meat will post -2.1 earnings per share for the current year.

Institutional Trading of Beyond Meat

Hedge funds and other institutional investors have recently modified their holdings of the business. Apollon Wealth Management LLC purchased a new stake in shares of Beyond Meat in the 1st quarter worth about $31,000. Pitcairn Co. bought a new position in Beyond Meat in the 2nd quarter worth about $37,000. Chiron Capital Management LLC bought a new position in Beyond Meat in the 1st quarter worth about $38,000. Ameriprise Financial Inc. bought a new position in Beyond Meat in the 4th quarter worth about $39,000. Finally, Rathbones Group PLC bought a new position in Beyond Meat in the 2nd quarter worth about $40,000. 52.48% of the stock is owned by hedge funds and other institutional investors.

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.