Beyond Meat (NASDAQ:BYND) Given New $6.00 Price Target at Mizuho

Beyond Meat (NASDAQ:BYND) had its target price dropped by equities researchers at Mizuho from $7.00 to $6.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “underperform” rating on the stock. Mizuho’s target price would suggest a potential downside of 1.15% from the company’s current price.

BYND has been the topic of a number of other reports. BMO Capital Markets boosted their price objective on Beyond Meat from $7.00 to $10.00 and gave the company a “market perform” rating in a research report on Wednesday, February 28th. TD Cowen lowered their price objective on Beyond Meat from $10.00 to $6.00 and set a “sell” rating on the stock in a research report on Wednesday, April 17th. Finally, Argus upgraded Beyond Meat from a “sell” rating to a “hold” rating in a research report on Thursday, February 29th. Five equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Based on data from MarketBeat.com, Beyond Meat currently has an average rating of “Reduce” and an average price target of $5.83.

Beyond Meat Stock Down 1.5 %

Shares of NASDAQ BYND opened at $6.07 on Monday. The business’s 50 day moving average is $7.71 and its two-hundred day moving average is $7.65. The company has a market cap of $392.61 million, a P/E ratio of -1.16 and a beta of 2.41. Beyond Meat has a 12 month low of $5.58 and a 12 month high of $19.25.

Beyond Meat (NASDAQ:BYND) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($2.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($1.58). The firm had revenue of $73.68 million during the quarter, compared to analyst estimates of $66.66 million. The company’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.05) EPS. Sell-side analysts expect that Beyond Meat will post -2.46 earnings per share for the current fiscal year.

Institutional Trading of Beyond Meat

A number of large investors have recently bought and sold shares of the stock. Olympiad Research LP grew its position in Beyond Meat by 5.1% in the fourth quarter. Olympiad Research LP now owns 30,592 shares of the company’s stock valued at $272,000 after acquiring an additional 1,477 shares during the period. Arizona State Retirement System boosted its stake in Beyond Meat by 9.4% in the fourth quarter. Arizona State Retirement System now owns 17,999 shares of the company’s stock worth $160,000 after purchasing an additional 1,541 shares in the last quarter. Gotham Asset Management LLC boosted its stake in Beyond Meat by 5.6% in the third quarter. Gotham Asset Management LLC now owns 31,165 shares of the company’s stock worth $300,000 after purchasing an additional 1,646 shares in the last quarter. Banque Cantonale Vaudoise boosted its stake in Beyond Meat by 117.4% in the first quarter. Banque Cantonale Vaudoise now owns 3,220 shares of the company’s stock worth $26,000 after purchasing an additional 1,739 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Beyond Meat by 5.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 58,921 shares of the company’s stock worth $567,000 after purchasing an additional 3,143 shares in the last quarter. 52.48% of the stock is currently owned by institutional investors.

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.