Beyond Meat (NASDAQ:BYND) Trading 10.3% Higher – Should You Buy?

Beyond Meat, Inc. (NASDAQ:BYND)’s stock price rose 10.3% during mid-day trading on Friday . The stock traded as high as $13.30 and last traded at $13.4620. Approximately 1,102,194 shares changed hands during trading, a decline of 28% from the average daily volume of 1,528,246 shares. The stock had previously closed at $12.21.

Wall Street Analyst Weigh In

BYND has been the topic of several recent analyst reports. Wall Street Zen raised Beyond Meat from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 12th. Weiss Ratings reiterated a “sell (d)” rating on shares of Beyond Meat in a report on Wednesday, July 8th. Finally, Zacks Research raised shares of Beyond Meat from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Three equities research analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Strong Sell” and a consensus target price of $24.75.

Beyond Meat Trading Up 12.5%

The business has a 50-day moving average of $0.63 and a 200-day moving average of $0.72. The company has a quick ratio of 2.07, a current ratio of 2.63 and a debt-to-equity ratio of 6.57. The stock has a market cap of $7.08 billion, a price-to-earnings ratio of -7.45 and a beta of 2.78.

Institutional Investors Weigh In On Beyond Meat

Several large investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its holdings in Beyond Meat by 22.5% in the second quarter. The Manufacturers Life Insurance Company now owns 28,047 shares of the company’s stock worth $98,000 after buying an additional 5,143 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Beyond Meat by 8.3% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,749 shares of the company’s stock worth $275,000 after acquiring an additional 6,020 shares in the last quarter. Pitcairn Co. bought a new stake in Beyond Meat in the second quarter worth approximately $37,000. Cerity Partners LLC increased its stake in shares of Beyond Meat by 76.2% during the 2nd quarter. Cerity Partners LLC now owns 24,958 shares of the company’s stock worth $87,000 after purchasing an additional 10,792 shares during the last quarter. Finally, Cetera Investment Advisers increased its stake in shares of Beyond Meat by 66.4% during the 2nd quarter. Cetera Investment Advisers now owns 27,378 shares of the company’s stock worth $96,000 after purchasing an additional 10,924 shares during the last quarter. Institutional investors 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.