TD Cowen Cuts Beyond Meat (NASDAQ:BYND) Price Target to $0.80

Beyond Meat (NASDAQ:BYND) had its target price trimmed by TD Cowen from $2.00 to $0.80 in a research note published on Tuesday,Benzinga reports. The brokerage currently has a sell rating on the stock.

Other equities research analysts have also recently issued research reports about the company. BMO Capital Markets lowered their price target on Beyond Meat from $5.00 to $4.00 and set a “market perform” rating on the stock in a report on Thursday, August 14th. Cowen restated a “sell” rating on shares of Beyond Meat in a report on Tuesday. Weiss Ratings restated a “sell (e+)” rating on shares of Beyond Meat in a report on Wednesday, October 8th. Argus cut Beyond Meat from a “hold” rating to a “sell” rating in a report on Monday, September 15th. Finally, JPMorgan Chase & Co. started coverage on Beyond Meat in a report on Wednesday, August 20th. They issued an “underweight” rating on the stock. Two analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Strong Sell” and a consensus price target of $2.27.

Beyond Meat Trading Down 22.4%

NASDAQ BYND opened at $0.52 on Tuesday. The business’s 50 day moving average is $2.37 and its two-hundred day moving average is $2.82. Beyond Meat has a 12-month low of $0.50 and a 12-month high of $6.64. The stock has a market capitalization of $39.91 million, a price-to-earnings ratio of -0.24 and a beta of 2.33.

Beyond Meat (NASDAQ:BYND) last released its earnings results on Wednesday, August 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.06). The business had revenue of $74.96 million during the quarter, compared to the consensus estimate of $85.71 million. During the same quarter last year, the firm earned ($0.53) EPS. The company’s revenue for the quarter was down 19.5% compared to the same quarter last year. Equities analysts forecast that Beyond Meat will post -2.1 earnings per share for the current fiscal year.

Institutional Trading of Beyond Meat

Several large investors have recently modified their holdings of the business. Apollon Wealth Management LLC acquired a new position in Beyond Meat in the first quarter worth about $31,000. Pitcairn Co. acquired a new position in Beyond Meat in the second quarter worth about $37,000. Rathbones Group PLC acquired a new position in Beyond Meat in the second quarter worth about $40,000. Chiron Capital Management LLC acquired a new position in Beyond Meat in the first quarter worth about $38,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in Beyond Meat in the second quarter worth about $45,000. 52.48% of the stock is currently 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.