Beyond Meat, Inc. (NASDAQ:BYND) Receives Consensus Rating of “Strong Sell” from Brokerages

Shares of Beyond Meat, Inc. (NASDAQ:BYND) have been assigned an average recommendation of “Strong Sell” from the nine brokerages that are covering the company, MarketBeat reports. Six investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $0.8250.

A number of research analysts recently weighed in on the stock. Zacks Research upgraded shares of Beyond Meat from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Weiss Ratings reissued a “sell (d)” rating on shares of Beyond Meat in a report on Wednesday, July 8th. Wall Street Zen raised Beyond Meat from a “strong sell” rating to a “sell” rating in a report on Sunday, July 12th. Barclays lowered their target price on shares of Beyond Meat from $1.00 to $0.50 and set an “underweight” rating on the stock in a report on Thursday, April 2nd. Finally, BMO Capital Markets decreased their price objective on Beyond Meat from $4.00 to $1.00 and set a “market perform” rating on the stock in a report on Monday, April 6th.

Beyond Meat Price Performance

NASDAQ:BYND traded up $0.01 during trading hours on Thursday, hitting $0.54. The company had a trading volume of 3,128,431 shares, compared to its average volume of 44,785,621. 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 $280.34 million, a PE ratio of -0.24 and a beta of 2.75. The stock has a 50-day moving average price of $0.69 and a 200 day moving average price of $0.76.

Beyond Meat (NASDAQ:BYND) last announced its 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 net margin of 54.95% and a negative return on equity of 54.39%. The business had revenue of $58.21 million during the quarter, compared to the consensus estimate of $58.02 million. Analysts anticipate that Beyond Meat will post -0.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pitcairn Co. bought a new stake in Beyond Meat during the second quarter worth approximately $37,000. Russell Investments Group Ltd. lifted its stake in shares of Beyond Meat by 400.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 14,786 shares of the company’s stock valued at $28,000 after purchasing an additional 11,830 shares during the last quarter. Envestnet Asset Management Inc. bought a new stake in shares of Beyond Meat in the 2nd quarter valued at approximately $70,000. Corient Private Wealth LLC purchased a new position in shares of Beyond Meat in the 2nd quarter worth approximately $83,000. Finally, Cerity Partners LLC boosted its holdings in shares of Beyond Meat by 76.2% in the 2nd quarter. Cerity Partners LLC now owns 24,958 shares of the company’s stock worth $87,000 after purchasing an additional 10,792 shares during the period. Hedge funds and other 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.