Investors Buy Large Volume of Beyond Meat Call Options (NASDAQ:BYND)

Beyond Meat, Inc. (NASDAQ:BYND) was the recipient of some unusual options trading activity on Thursday. Investors purchased 299,736 call options on the stock. This represents an increase of 38% compared to the typical daily volume of 217,522 call options.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BYND. JPMorgan Chase & Co. began coverage on Beyond Meat in a report on Wednesday, August 20th. They set an “underweight” rating on the stock. TD Cowen decreased their price target on Beyond Meat from $2.00 to $0.80 and set a “sell” rating on the stock in a report on Tuesday, October 14th. Cowen restated a “sell” rating on shares of Beyond Meat in a report on Tuesday, October 14th. Mizuho decreased their price target on Beyond Meat from $2.00 to $1.50 and set an “underperform” rating on the stock in a report on Friday, October 24th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Beyond Meat in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Hold rating and seven have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Strong Sell” and a consensus price target of $2.08.

Beyond Meat Stock Performance

Beyond Meat stock traded down $0.08 during mid-day trading on Thursday, hitting $1.19. The company’s stock had a trading volume of 187,909,020 shares, compared to its average volume of 49,654,418. The company has a 50 day moving average of $2.20 and a 200-day moving average of $2.74. The stock has a market cap of $473.15 million, a PE ratio of -0.55 and a beta of 2.32. Beyond Meat has a one year low of $0.50 and a one year high of $7.69.

Beyond Meat (NASDAQ:BYND) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.43) 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. The firm’s revenue was down 19.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.53) earnings per share. On average, equities research analysts forecast that Beyond Meat will post -2.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Beyond Meat

Hedge funds have recently bought and sold shares of the business. Savant Capital LLC bought a new position in shares of Beyond Meat during the 3rd quarter worth $28,000. Apollon Wealth Management LLC bought a new position in shares of Beyond Meat during the 1st quarter worth $31,000. Pitcairn Co. bought a new position in shares of Beyond Meat during the 2nd quarter worth $37,000. Chiron Capital Management LLC bought a new position in shares of Beyond Meat during the 1st quarter worth $38,000. Finally, Regatta Capital Group LLC bought a new position in shares of Beyond Meat during the 3rd quarter worth $38,000. Institutional investors own 52.48% of the company’s stock.

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.