Beyond Meat, Inc. (NASDAQ:BYND) Given Average Recommendation of “Strong Sell” by Analysts

Shares of Beyond Meat, Inc. (NASDAQ:BYND) have been given a consensus rating of “Strong Sell” by the seven brokerages that are presently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a sell recommendation and two have assigned a hold recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $6.00.

BYND has been the topic of several recent research reports. TD Cowen decreased their price target on shares of Beyond Meat from $10.00 to $6.00 and set a “sell” rating on the stock in a research report on Wednesday. BMO Capital Markets lifted their target price on Beyond Meat from $7.00 to $10.00 and gave the stock a “market perform” rating in a report on Wednesday, February 28th. Argus raised Beyond Meat from a “sell” rating to a “hold” rating in a report on Thursday, February 29th. Finally, Mizuho increased their price target on Beyond Meat from $5.00 to $7.00 and gave the company an “underperform” rating in a research report on Thursday, February 29th.

Institutional Investors Weigh In On Beyond Meat

Hedge funds have recently bought and sold shares of the business. Banque Cantonale Vaudoise boosted its stake in shares of Beyond Meat by 117.4% during the 1st quarter. Banque Cantonale Vaudoise now owns 3,220 shares of the company’s stock valued at $26,000 after buying an additional 1,739 shares during the period. Virtu Financial LLC purchased a new stake in shares of Beyond Meat during the fourth quarter worth $196,000. Scarborough Advisors LLC acquired a new stake in Beyond Meat during the fourth quarter valued at $62,000. Legal & General Group Plc grew its stake in Beyond Meat by 3.6% in the fourth quarter. Legal & General Group Plc now owns 53,535 shares of the company’s stock valued at $476,000 after purchasing an additional 1,837 shares in the last quarter. Finally, Royal Bank of Canada increased its position in Beyond Meat by 6.8% in the 4th quarter. Royal Bank of Canada now owns 90,503 shares of the company’s stock worth $804,000 after purchasing an additional 5,785 shares during the last quarter. 52.48% of the stock is owned by hedge funds and other institutional investors.

Beyond Meat Price Performance

Shares of NASDAQ:BYND opened at $6.43 on Thursday. The stock has a market cap of $415.89 million, a price-to-earnings ratio of -1.23 and a beta of 2.41. The stock’s 50 day moving average price is $7.75 and its 200 day moving average price is $7.72. Beyond Meat has a 12 month low of $5.58 and a 12 month high of $19.25.

Beyond Meat (NASDAQ:BYND) last released its earnings results on Tuesday, February 27th. The company reported ($2.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($1.58). The company had revenue of $73.68 million during the quarter, compared to analysts’ expectations of $66.66 million. During the same quarter in the prior year, the firm posted ($1.05) earnings per share. The firm’s revenue for the quarter was down 7.8% compared to the same quarter last year. On average, sell-side analysts expect that Beyond Meat will post -2.46 EPS for the current year.

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.