Barclays Cuts Beyond Meat (NASDAQ:BYND) Price Target to $0.50

Beyond Meat (NASDAQ:BYNDFree Report) had its price target reduced by Barclays from $1.00 to $0.50 in a report issued on Thursday morning,Benzinga reports. Barclays currently has an underweight rating on the stock.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Beyond Meat in a research note on Wednesday, January 21st. Two research analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Strong Sell” and a consensus target price of $1.58.

Read Our Latest Analysis on BYND

Beyond Meat Price Performance

BYND opened at $0.59 on Thursday. Beyond Meat has a 1-year low of $0.50 and a 1-year high of $7.69. The stock has a market cap of $269.67 million, a P/E ratio of -0.21 and a beta of 2.67. The stock’s 50 day simple moving average is $0.74 and its 200 day simple moving average is $1.19.

Beyond Meat (NASDAQ:BYNDGet Free Report) last issued its quarterly earnings data on Tuesday, March 31st. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.17). The company had revenue of $61.59 million during the quarter, compared to analysts’ expectations of $63.00 million. Research analysts expect that Beyond Meat will post -2.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC lifted its stake in Beyond Meat by 445.0% in the 4th quarter. Geode Capital Management LLC now owns 9,927,157 shares of the company’s stock valued at $8,142,000 after buying an additional 8,105,718 shares in the last quarter. UBS Group AG increased its position in Beyond Meat by 674.8% during the fourth quarter. UBS Group AG now owns 9,788,528 shares of the company’s stock worth $8,027,000 after buying an additional 8,525,183 shares in the last quarter. Vanguard Group Inc. increased its position in Beyond Meat by 1.5% during the third quarter. Vanguard Group Inc. now owns 4,780,045 shares of the company’s stock worth $9,034,000 after buying an additional 69,423 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Beyond Meat by 497.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,383,511 shares of the company’s stock worth $2,774,000 after acquiring an additional 2,816,778 shares during the last quarter. Finally, Vontobel Holding Ltd. raised its holdings in shares of Beyond Meat by 38.0% in the third quarter. Vontobel Holding Ltd. now owns 2,917,994 shares of the company’s stock worth $5,515,000 after acquiring an additional 804,125 shares during the last quarter. 52.48% of the stock is currently owned by institutional investors and hedge funds.

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Beyond Meat Company Profile

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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.

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