Beyond Meat (NASDAQ:BYND) Trading Down 0.7% – Here’s What Happened

Beyond Meat, Inc. (NASDAQ:BYND)’s share price was down 0.7% during mid-day trading on Wednesday . The company traded as low as $0.7411 and last traded at $0.7450. Approximately 29,476,645 shares were traded during trading, a decline of 15% from the average session volume of 34,773,272 shares. The stock had previously closed at $0.75.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on BYND shares. Zacks Research upgraded shares of Beyond Meat from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. BMO Capital Markets reduced their price objective on Beyond Meat from $4.00 to $1.00 and set a “market perform” rating for the company in a research report on Monday, April 6th. Finally, Barclays decreased their price objective on Beyond Meat from $1.00 to $0.50 and set an “underweight” rating for the company in a report on Thursday, April 2nd. Three analysts have rated the stock with a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Strong Sell” and an average target price of $0.82.

Beyond Meat Price Performance

The firm has a market cap of $383.93 million, a price-to-earnings ratio of -0.34 and a beta of 2.75. The firm’s fifty day moving average is $0.79 and its two-hundred day moving average is $0.80.

Beyond Meat (NASDAQ:BYND) last released its earnings results on Wednesday, May 6th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.02. Beyond Meat had a net margin of 54.95% and a negative return on equity of 54.39%. The firm had revenue of $58.21 million for the quarter, compared to analysts’ expectations of $58.02 million. On average, equities analysts forecast that Beyond Meat, Inc. will post -0.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Beyond Meat

In other news, CFO Lubi Kutua sold 419,042 shares of the business’s stock in a transaction on Monday, April 13th. The stock was sold at an average price of $0.60, for a total value of $251,425.20. Following the sale, the chief financial officer owned 5,749,967 shares of the company’s stock, valued at approximately $3,449,980.20. The trade was a 6.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Teri L. Witteman sold 29,978 shares of the business’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $1.00, for a total transaction of $29,978.00. Following the completion of the sale, the insider owned 4,178,194 shares in the company, valued at approximately $4,178,194. This trade represents a 0.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Beyond Meat

A number of large investors have recently made changes to their positions in the company. Evolve Private Wealth LLC purchased a new stake in shares of Beyond Meat in the 1st quarter valued at approximately $25,000. Xponance LLC acquired a new stake in Beyond Meat during the 4th quarter valued at $25,000. State of Wyoming purchased a new stake in shares of Beyond Meat in the first quarter valued at $27,000. Russell Investments Group Ltd. lifted its holdings in shares of Beyond Meat by 400.2% in the third quarter. Russell Investments Group Ltd. now owns 14,786 shares of the company’s stock valued at $28,000 after purchasing an additional 11,830 shares in the last quarter. Finally, Chicago Partners Investment Group LLC acquired a new stake in shares of Beyond Meat in the first quarter worth $29,000. Institutional investors and hedge funds own 52.48% of the company’s stock.

Beyond Meat Company Profile

Beyond Meat, Inc (NASDAQ: BYND) develops, manufactures and sells plant-based meat substitutes designed to replicate the taste, texture and appearance of animal-based proteins. Since its founding in 2009 by Ethan Brown and initial public offering in 2019, the company has focused on leveraging proprietary technology and ingredient blends to produce a suite of products that cater to both retail and foodservice channels. Beyond Meat’s mission centers on offering more sustainable protein options by reducing reliance on livestock farming and its associated environmental footprint.

The company’s product portfolio includes Beyond Burger, Beyond Sausage, Beyond Beef and Beyond Chicken, each formulated to appeal to a broad range of consumers seeking meat alternatives without compromising on flavor or cooking versatility.