Beyond Meat Target of Unusually High Options Trading (NASDAQ:BYND)

Beyond Meat, Inc. (NASDAQ:BYND) was the target of unusually large options trading on Friday. Investors acquired 192,985 call options on the stock. This is an increase of 71% compared to the typical volume of 112,550 call options.

Insider Buying and Selling at Beyond Meat

In related news, insider Teri L. Witteman sold 29,978 shares of the stock in a transaction on Monday, April 20th. The stock was sold at an average price of $1.00, for a total value of $29,978.00. Following the completion of the transaction, the insider directly owned 4,178,194 shares of the company’s stock, valued at approximately $4,178,194. This represents a 0.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Lubi Kutua sold 419,042 shares of the stock in a transaction on Monday, April 13th. The shares were sold at an average price of $0.60, for a total value of $251,425.20. Following the completion of the transaction, the chief financial officer directly owned 5,749,967 shares of the company’s stock, valued at approximately $3,449,980.20. This represents a 6.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Beyond Meat

A number of hedge funds and other institutional investors have recently modified their holdings of BYND. Banco Santander S.A. acquired a new stake in shares of Beyond Meat in the 3rd quarter worth $25,000. Evolve Private Wealth LLC purchased a new position in shares of Beyond Meat during the 1st quarter worth $25,000. Xponance LLC purchased a new position in shares of Beyond Meat during the 4th quarter worth $25,000. Savant Capital LLC purchased a new position in shares of Beyond Meat during the 3rd quarter worth $28,000. Finally, Russell Investments Group Ltd. grew its holdings in shares of Beyond Meat by 400.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 14,786 shares of the company’s stock worth $28,000 after purchasing an additional 11,830 shares during the period. 52.48% of the stock is owned by institutional investors and hedge funds.

Beyond Meat Stock Down 3.6%

Shares of BYND opened at $0.95 on Friday. Beyond Meat has a 52-week low of $0.50 and a 52-week high of $7.69. The company has a market capitalization of $439.78 million, a PE ratio of -0.33 and a beta of 2.85. The stock has a fifty day simple moving average of $0.76 and a two-hundred day simple moving average of $0.98.

Beyond Meat (NASDAQ:BYND) last issued its earnings results on Tuesday, March 31st. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.17). Beyond Meat had a negative return on equity of 37.44% and a net margin of 43.98%.The company had revenue of $61.59 million during the quarter, compared to analyst estimates of $63.00 million. As a group, equities analysts anticipate that Beyond Meat will post -0.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Beyond Meat in a research note on Wednesday, January 21st. Barclays reduced their price objective on Beyond Meat from $1.00 to $0.50 and set an “underweight” rating for the company in a research note on Thursday, April 2nd. Zacks Research downgraded Beyond Meat from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 7th. Finally, BMO Capital Markets reduced their price objective on Beyond Meat from $4.00 to $1.00 and set a “market perform” rating for the company in a research note on Monday, April 6th. Two research analysts have rated the stock with a Hold rating and seven have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Strong Sell” and a consensus price target of $0.83.

Beyond Meat Company Profile

Beyond Meat, Inc (NASDAQ: BYND) develops, manufactures and sells plant-based meat substitutes designed to replicate the taste, texture and appearance of animal-based proteins. Since its founding in 2009 by Ethan Brown and initial public offering in 2019, the company has focused on leveraging proprietary technology and ingredient blends to produce a suite of products that cater to both retail and foodservice channels. Beyond Meat’s mission centers on offering more sustainable protein options by reducing reliance on livestock farming and its associated environmental footprint.

The company’s product portfolio includes Beyond Burger, Beyond Sausage, Beyond Beef and Beyond Chicken, each formulated to appeal to a broad range of consumers seeking meat alternatives without compromising on flavor or cooking versatility.