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

Beyond Meat, Inc. (NASDAQ:BYND) has received an average recommendation of “Strong Sell” from the nine brokerages that are currently covering the stock, Marketbeat reports. Six analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $0.8250.

A number of analysts recently commented on BYND shares. Zacks Research raised Beyond Meat from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Barclays decreased their target price on Beyond Meat from $1.00 to $0.50 and set an “underweight” rating for the company in a research report on Thursday, April 2nd. Finally, BMO Capital Markets decreased their target price 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.

Beyond Meat Trading Down 2.5%

BYND stock opened at $0.68 on Wednesday. The stock has a 50-day moving average price of $0.79 and a 200-day moving average price of $0.84. Beyond Meat has a 1-year low of $0.50 and a 1-year high of $7.69. The firm has a market cap of $352.70 million, a PE ratio of -0.31 and a beta of 2.77.

Beyond Meat (NASDAQ:BYND) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.02. Beyond Meat had a negative return on equity of 54.39% and a net margin of 54.95%.The firm had revenue of $58.21 million during the quarter, compared to analyst estimates of $58.02 million. On average, analysts forecast that Beyond Meat will post -0.35 earnings per share for the current year.

Insider Transactions at Beyond Meat

In related news, CFO Lubi Kutua sold 419,042 shares of the company’s stock in a transaction on Monday, April 13th. The stock was sold at an average price of $0.60, for a total transaction of $251,425.20. Following the completion of the sale, the chief financial officer owned 5,749,967 shares in the company, valued at approximately $3,449,980.20. This represents a 6.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 company’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $1.00, for a total value of $29,978.00. Following the sale, the insider owned 4,178,194 shares of the company’s stock, valued at $4,178,194. This trade represents a 0.71% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Beyond Meat

Institutional investors have recently modified their holdings of the business. Pitcairn Co. bought a new position in shares of Beyond Meat in the second quarter valued at approximately $37,000. Banco Santander S.A. bought a new position in shares of Beyond Meat in the third quarter valued at approximately $25,000. Russell Investments Group Ltd. grew 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 acquiring an additional 11,830 shares in the last quarter. Savant Capital LLC bought a new position in shares of Beyond Meat in the third quarter valued at approximately $28,000. Finally, Envestnet Asset Management Inc. bought a new position in shares of Beyond Meat in the second quarter valued at approximately $70,000. 52.48% of the stock is owned by institutional investors.

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.