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

Beyond Meat, Inc. (NASDAQ:BYND) has received a consensus recommendation of “Strong Sell” from the seven brokerages that are presently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $5.42.

Several equities analysts have recently issued reports on the stock. Mizuho lowered their target price on shares of Beyond Meat from $6.00 to $5.00 and set an “underperform” rating for the company in a report on Monday, August 26th. BMO Capital Markets reduced their price objective on Beyond Meat from $9.00 to $6.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th.

Institutional Investors Weigh In On Beyond Meat

Institutional investors have recently made changes to their positions in the company. Canada Pension Plan Investment Board purchased a new position in Beyond Meat in the 2nd quarter worth approximately $41,000. ProShare Advisors LLC purchased a new position in shares of Beyond Meat in the first quarter worth $88,000. EntryPoint Capital LLC raised its stake in shares of Beyond Meat by 77.1% in the first quarter. EntryPoint Capital LLC now owns 17,685 shares of the company’s stock worth $146,000 after purchasing an additional 7,699 shares during the last quarter. Farallon Capital Management LLC bought a new position in shares of Beyond Meat during the first quarter valued at $157,000. Finally, State Board of Administration of Florida Retirement System boosted its position in shares of Beyond Meat by 30.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 22,061 shares of the company’s stock valued at $183,000 after buying an additional 5,140 shares during the last quarter. Hedge funds and other institutional investors own 52.48% of the company’s stock.

Beyond Meat Trading Down 8.0 %

Shares of Beyond Meat stock opened at $5.37 on Monday. Beyond Meat has a 12 month low of $5.13 and a 12 month high of $12.12. The firm has a market capitalization of $349.26 million, a P/E ratio of -1.10 and a beta of 2.28. The business has a fifty day simple moving average of $6.35 and a two-hundred day simple moving average of $6.60.

Beyond Meat (NASDAQ:BYND) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.03. The business had revenue of $81.01 million during the quarter, compared to the consensus estimate of $80.13 million. During the same quarter in the previous year, the business earned ($1.09) earnings per share. The firm’s revenue was up 7.6% compared to the same quarter last year. Analysts predict that Beyond Meat will post -2.04 earnings per share for the current year.

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.