Beyond Meat (NASDAQ:BYND) Shares Gap Down – Time to Sell?

Shares of Beyond Meat, Inc. (NASDAQ:BYND) gapped down before the market opened on Tuesday . The stock had previously closed at $1.14, but opened at $1.10. Beyond Meat shares last traded at $1.2150, with a volume of 13,895,442 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. BMO Capital Markets cut their price objective on Beyond Meat from $5.00 to $4.00 and set a “market perform” rating on the stock in a report on Thursday, August 14th. TD Cowen lowered their price objective on shares of Beyond Meat from $2.00 to $0.80 and set a “sell” rating for the company in a research report on Tuesday, October 14th. Argus cut Beyond Meat from a “hold” rating to a “sell” rating in a research note on Monday, September 15th. Barclays reduced their price objective on shares of Beyond Meat from $2.00 to $1.00 and set an “underweight” rating on the stock in a research note on Wednesday, November 12th. Finally, Mizuho decreased their target price on Beyond Meat from $1.50 to $1.00 and set an “underperform” rating for the company in a research report on Thursday, November 13th. Two research analysts have rated the stock with a Hold rating and seven have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Strong Sell” and an average target price of $1.70.

Beyond Meat Stock Up 8.3%

The company has a 50-day moving average price of $1.51 and a 200-day moving average price of $2.50. The firm has a market capitalization of $560.16 million, a price-to-earnings ratio of -0.38 and a beta of 2.52.

Beyond Meat (NASDAQ:BYND) last posted its earnings results on Monday, November 10th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.08). The company had revenue of $70.22 million during the quarter, compared to analysts’ expectations of $68.82 million. As a group, analysts forecast that Beyond Meat, Inc. will post -2.1 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Pitcairn Co. acquired a new stake in shares of Beyond Meat during the second quarter valued at approximately $37,000. Rathbones Group PLC purchased a new position in Beyond Meat during the 2nd quarter worth approximately $40,000. Chiron Capital Management LLC acquired a new stake in Beyond Meat during the 1st quarter valued at $38,000. Vanguard Personalized Indexing Management LLC acquired a new stake in Beyond Meat during the 2nd quarter valued at $45,000. Finally, Banco Santander S.A. purchased a new stake in shares of Beyond Meat in the third quarter valued at $25,000. 52.48% of the stock is currently owned by institutional investors and hedge funds.

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.