Beyond Meat (NASDAQ:BYND) Stock Rating Lowered by Wall Street Zen

Beyond Meat (NASDAQ:BYND) was downgraded by equities researchers at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other brokerages have also commented on BYND. Zacks Research upgraded shares of Beyond Meat from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. Weiss Ratings restated a “sell (d)” rating on shares of Beyond Meat in a research report on Wednesday, July 8th. Finally, Barclays restated an “underweight” rating and issued a $10.00 target price (up from $0.50) on shares of Beyond Meat in a report on Monday, August 17th. Three equities research analysts have rated the stock with a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Strong Sell” and an average target price of $23.50.

Beyond Meat Price Performance

Shares of NASDAQ BYND opened at $11.79 on Friday. The stock’s 50-day simple moving average is $16.53 and its 200-day simple moving average is $20.60. The firm has a market capitalization of $202.67 million, a PE ratio of -0.21 and a beta of 2.76. Beyond Meat has a fifty-two week low of $10.71 and a fifty-two week high of $230.70. The company has a debt-to-equity ratio of 6.57, a quick ratio of 2.07 and a current ratio of 2.63.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its stake in Beyond Meat by 22.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,047 shares of the company’s stock worth $98,000 after purchasing an additional 5,143 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Beyond Meat by 8.3% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,749 shares of the company’s stock valued at $275,000 after purchasing an additional 6,020 shares during the period. Pitcairn Co. acquired a new position in Beyond Meat in the second quarter valued at $37,000. Cerity Partners LLC raised its holdings in shares of Beyond Meat by 76.2% in the second quarter. Cerity Partners LLC now owns 24,958 shares of the company’s stock valued at $87,000 after buying an additional 10,792 shares during the last quarter. Finally, Cetera Investment Advisers raised its holdings in shares of Beyond Meat by 66.4% in the second quarter. Cetera Investment Advisers now owns 27,378 shares of the company’s stock valued at $96,000 after buying an additional 10,924 shares during the last quarter. Institutional investors and hedge funds 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.