Beyond Meat (NASDAQ:BYND) Trading Up 6.2% – Time to Buy?

Beyond Meat, Inc. (NASDAQ:BYND) shares shot up 6.2% during mid-day trading on Tuesday . The stock traded as high as $1.11 and last traded at $1.1050. 22,616,097 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 54,328,660 shares. The stock had previously closed at $1.04.

Analyst Upgrades and Downgrades

Several analysts recently commented on BYND shares. Mizuho cut their price objective on shares of Beyond Meat from $1.50 to $1.00 and set an “underperform” rating on the stock in a research report on Thursday, November 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Beyond Meat in a research note on Wednesday, October 8th. JPMorgan Chase & Co. assumed coverage on shares of Beyond Meat in a report on Wednesday, August 20th. They set an “underweight” rating on the stock. TD Cowen reduced their price target 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. Finally, Cowen reaffirmed a “sell” rating on shares of Beyond Meat in a research report on Tuesday, October 14th. Two analysts have rated the stock with a Hold rating and seven have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Strong Sell” and an average price target of $1.70.

Beyond Meat Stock Up 3.4%

The stock has a market capitalization of $487.59 million, a PE ratio of -0.33 and a beta of 2.51. The firm’s fifty day moving average price is $1.39 and its two-hundred day moving average price is $2.44.

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

Institutional Trading of Beyond Meat

A number of hedge funds have recently bought and sold shares of the company. Pitcairn Co. purchased a new position in shares of Beyond Meat during the 2nd quarter valued at about $37,000. Rathbones Group PLC purchased a new stake in Beyond Meat in the 2nd quarter worth approximately $40,000. Chiron Capital Management LLC bought a new stake in Beyond Meat during the 1st quarter worth approximately $38,000. Vanguard Personalized Indexing Management LLC purchased a new position in Beyond Meat during the second quarter valued at approximately $45,000. Finally, Banco Santander S.A. purchased a new position in Beyond Meat during the third quarter valued at approximately $25,000. Hedge funds and other institutional investors own 52.48% of the company’s stock.

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.