Beyond Meat, Inc. (NASDAQ:BYND) Given Consensus Recommendation of “Strong Sell” by Brokerages

Shares of Beyond Meat, Inc. (NASDAQ:BYND) have earned a consensus rating of “Strong Sell” from the nine ratings firms that are presently covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a sell rating and two have given a hold rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $0.8250.

Several brokerages have recently weighed in on BYND. BMO Capital Markets dropped their price objective on shares of Beyond Meat from $4.00 to $1.00 and set a “market perform” rating on the stock in a research report on Monday, April 6th. Barclays cut their target price on shares of 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 cut shares of Beyond Meat from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 7th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Beyond Meat in a research note on Wednesday, January 21st.

Beyond Meat Stock Down 0.0%

Shares of Beyond Meat stock opened at $0.80 on Friday. Beyond Meat has a 12-month low of $0.50 and a 12-month high of $7.69. The stock has a market cap of $414.49 million, a P/E ratio of -0.36 and a beta of 2.85. The business’s 50 day moving average is $0.77 and its 200-day moving average is $0.92.

Beyond Meat (NASDAQ:BYND) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. Beyond Meat had a negative return on equity of 54.39% and a net margin of 54.95%.The business had revenue of $58.21 million for the quarter, compared to analysts’ expectations of $58.02 million. On average, sell-side analysts expect that Beyond Meat will post -0.35 EPS for the current year.

Insider Transactions at Beyond Meat

In other news, CFO Lubi Kutua sold 419,042 shares of the firm’s stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $0.60, for a total transaction of $251,425.20. Following the completion of the sale, the chief financial officer owned 5,749,967 shares in the company, valued at approximately $3,449,980.20. This trade represents a 6.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Teri L. Witteman sold 29,978 shares of the firm’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $1.00, for a total transaction of $29,978.00. Following the sale, the insider 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BYND. UBS Group AG increased its position in Beyond Meat by 674.8% during the 4th quarter. UBS Group AG now owns 9,788,528 shares of the company’s stock worth $8,027,000 after buying an additional 8,525,183 shares during the period. Geode Capital Management LLC increased its position in Beyond Meat by 445.0% during the 4th quarter. Geode Capital Management LLC now owns 9,927,157 shares of the company’s stock worth $8,142,000 after buying an additional 8,105,718 shares during the period. Charles Schwab Investment Management Inc. increased its position in Beyond Meat by 497.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,383,511 shares of the company’s stock worth $2,774,000 after buying an additional 2,816,778 shares during the period. Atom Investors LP increased its position in Beyond Meat by 669.3% during the 4th quarter. Atom Investors LP now owns 655,779 shares of the company’s stock worth $538,000 after buying an additional 570,536 shares during the period. Finally, Virtu Financial LLC increased its position in Beyond Meat by 670.6% during the 4th quarter. Virtu Financial LLC now owns 608,487 shares of the company’s stock worth $499,000 after buying an additional 529,526 shares during the period. Institutional investors own 52.48% of the company’s stock.

About Beyond Meat

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.