Analysts Set Beyond Meat, Inc. (NASDAQ:BYND) Target Price at $4.92

Shares of Beyond Meat, Inc. (NASDAQ:BYND) have been given a consensus rating of “Strong Sell” by the six ratings firms that are currently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $4.92.

A number of research analysts have issued reports on the company. Barclays lowered their price objective on Beyond Meat from $4.00 to $3.00 and set an “underweight” rating for the company in a research note on Thursday, February 27th. BMO Capital Markets lowered their price target on Beyond Meat from $6.00 to $5.00 and set a “market perform” rating for the company in a research report on Thursday, February 27th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Vontobel Holding Ltd. increased its holdings in Beyond Meat by 128.7% in the 4th quarter. Vontobel Holding Ltd. now owns 1,302,941 shares of the company’s stock worth $4,899,000 after buying an additional 733,168 shares in the last quarter. Zweig DiMenna Associates LLC purchased a new stake in shares of Beyond Meat during the 4th quarter valued at about $1,746,000. Millennium Management LLC boosted its holdings in shares of Beyond Meat by 73.8% during the 4th quarter. Millennium Management LLC now owns 619,957 shares of the company’s stock valued at $2,331,000 after acquiring an additional 263,337 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Beyond Meat in the fourth quarter worth approximately $796,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Beyond Meat during the fourth quarter valued at approximately $382,000. Hedge funds and other institutional investors own 52.48% of the company’s stock.

Beyond Meat Trading Down 5.1 %

Shares of BYND stock opened at $3.14 on Monday. The company’s fifty day moving average price is $3.67 and its 200-day moving average price is $4.72. The stock has a market cap of $239.05 million, a PE ratio of -0.75 and a beta of 2.36. Beyond Meat has a 12 month low of $2.86 and a 12 month high of $10.31.

Beyond Meat (NASDAQ:BYND) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.21). The company had revenue of $76.66 million for the quarter, compared to analyst estimates of $76.08 million. On average, sell-side analysts forecast that Beyond Meat will post -2.1 earnings per share for the current fiscal year.

Beyond Meat Company Profile

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.