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

Beyond Meat, Inc. (NASDAQ:BYND) has received a consensus recommendation of “Strong Sell” from the seven research firms that are covering the firm, Marketbeat reports. Five research analysts have rated the stock with a sell recommendation and two have issued a hold recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $5.83.

Several equities analysts have commented on BYND shares. Mizuho lowered their price objective on shares of Beyond Meat from $7.00 to $6.00 and set an “underperform” rating for the company in a research report on Monday. TD Cowen lowered their price objective on shares of Beyond Meat from $10.00 to $6.00 and set a “sell” rating for the company in a research report on Wednesday, April 17th. Argus upgraded shares of Beyond Meat from a “sell” rating to a “hold” rating in a research report on Thursday, February 29th. Finally, BMO Capital Markets raised their target price on shares of Beyond Meat from $7.00 to $10.00 and gave the stock a “market perform” rating in a report on Wednesday, February 28th.

Beyond Meat Stock Performance

Shares of NASDAQ:BYND opened at $6.06 on Thursday. The firm has a fifty day moving average price of $7.69 and a 200 day moving average price of $7.64. Beyond Meat has a fifty-two week low of $5.58 and a fifty-two week high of $19.25. The firm has a market cap of $391.96 million, a price-to-earnings ratio of -1.16 and a beta of 2.41.

Beyond Meat (NASDAQ:BYND) last issued its earnings results on Tuesday, February 27th. The company reported ($2.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.82) by ($1.58). The company had revenue of $73.68 million for the quarter, compared to analysts’ expectations of $66.66 million. During the same period last year, the company posted ($1.05) EPS. The business’s revenue was down 7.8% compared to the same quarter last year. As a group, research analysts predict that Beyond Meat will post -2.46 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Clear Street Markets LLC purchased a new position in Beyond Meat in the 3rd quarter worth about $31,000. Banque Cantonale Vaudoise increased its stake in Beyond Meat by 117.4% in the 1st quarter. Banque Cantonale Vaudoise now owns 3,220 shares of the company’s stock worth $26,000 after buying an additional 1,739 shares during the period. Quest Partners LLC purchased a new position in Beyond Meat in the 4th quarter worth about $48,000. Scarborough Advisors LLC purchased a new position in Beyond Meat in the 4th quarter worth about $62,000. Finally, 1620 Investment Advisors Inc. purchased a new position in Beyond Meat in the 3rd quarter worth about $84,000. Hedge funds and other institutional investors own 52.48% of the company’s stock.

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.