Mizuho Cuts Beyond Meat (NASDAQ:BYND) Price Target to $1.50

Beyond Meat (NASDAQ:BYND) had its target price cut by Mizuho from $2.00 to $1.50 in a report released on Friday morning, MarketBeat reports. They currently have an underperform rating on the stock.

Several other equities research analysts also recently issued reports on the company. TD Cowen dropped their target price on Beyond Meat from $2.00 to $0.80 and set a “sell” rating on the stock in a research report on Tuesday, October 14th. Weiss Ratings restated a “sell (e+)” rating on shares of Beyond Meat in a research report on Wednesday, October 8th. BTIG Research reiterated a “neutral” rating on shares of Beyond Meat in a research report on Tuesday, September 30th. Cowen reiterated a “sell” rating on shares of Beyond Meat in a research report on Tuesday, October 14th. Finally, BMO Capital Markets lowered their price objective on Beyond Meat from $5.00 to $4.00 and set a “market perform” rating on the stock in a research report on Thursday, August 14th. Two investment analysts have rated the stock with a Hold rating and seven have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Strong Sell” and a consensus price target of $2.08.

Beyond Meat Stock Down 23.2%

BYND stock opened at $2.18 on Friday. The firm has a market cap of $866.79 million, a PE ratio of -1.00 and a beta of 2.33. The business has a 50 day moving average of $2.34 and a 200-day moving average of $2.80. Beyond Meat has a 12-month low of $0.50 and a 12-month high of $7.69.

Beyond Meat (NASDAQ:BYND) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.43) earnings per share 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 analyst estimates of $85.71 million. During the same period last year, the business posted ($0.53) earnings per share. The company’s revenue for the quarter was down 19.5% compared to the same quarter last year. On average, research analysts expect that Beyond Meat will post -2.1 earnings per share for the current year.

Institutional Trading of Beyond Meat

A number of institutional investors have recently made changes to their positions in BYND. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Beyond Meat during the first quarter valued at approximately $48,000. Golden State Equity Partners purchased a new stake in shares of Beyond Meat during the first quarter valued at approximately $61,000. Vontobel Holding Ltd. boosted its stake in shares of Beyond Meat by 35.0% during the first quarter. Vontobel Holding Ltd. now owns 1,758,904 shares of the company’s stock valued at $5,365,000 after purchasing an additional 455,963 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Beyond Meat by 16,921.9% in the first quarter. Nisa Investment Advisors LLC now owns 124,260 shares of the company’s stock worth $379,000 after purchasing an additional 123,530 shares during the last quarter. Finally, Cerity Partners LLC bought a new stake in shares of Beyond Meat in the first quarter worth about $43,000. Hedge funds and other institutional investors own 52.48% of the company’s stock.

About Beyond Meat

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.