Beyond Meat (NASDAQ:BYND) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 10,100,000 shares, a growth of 18.8% from the December 15th total of 8,500,000 shares. Based on an average trading volume of 5,250,000 shares, the short-interest ratio is presently 1.9 days. Currently, 39.4% of the company’s shares are short sold.
Several research analysts have commented on the company. Bernstein Bank restated an “outperform” rating and set a $106.00 price objective on shares of Beyond Meat in a report on Wednesday, January 8th. Barclays restated a “buy” rating and set a $185.00 price objective on shares of Beyond Meat in a report on Tuesday, October 29th. DA Davidson reduced their price objective on Beyond Meat from $130.00 to $84.00 and set an “underperform” rating on the stock in a report on Tuesday, October 29th. They noted that the move was a valuation call. Zacks Investment Research downgraded Beyond Meat from a “buy” rating to a “hold” rating in a report on Tuesday, December 31st. Finally, BNP Paribas reduced their price objective on Beyond Meat from $70.00 to $50.00 and set an “underperform” rating on the stock in a report on Wednesday, November 20th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $112.77.
In related news, CFO Mark Joseph Nelson sold 70,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $79.95, for a total transaction of $5,596,500.00. Also, insider Cari Soto sold 10,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $79.95, for a total value of $799,500.00. Insiders have sold a total of 337,193 shares of company stock valued at $27,090,653 over the last three months.
Large investors have recently made changes to their positions in the company. Apriem Advisors purchased a new position in shares of Beyond Meat in the 2nd quarter valued at $254,000. Stifel Financial Corp purchased a new position in shares of Beyond Meat in the 3rd quarter valued at $292,000. SG Americas Securities LLC increased its holdings in shares of Beyond Meat by 14.4% in the 3rd quarter. SG Americas Securities LLC now owns 22,242 shares of the company’s stock valued at $3,306,000 after acquiring an additional 2,795 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of Beyond Meat in the 2nd quarter valued at $525,000. Finally, Sunbelt Securities Inc. purchased a new position in shares of Beyond Meat in the 3rd quarter valued at $454,000. Institutional investors and hedge funds own 10.18% of the company’s stock.
Shares of NASDAQ:BYND opened at $114.34 on Tuesday. Beyond Meat has a 12-month low of $45.00 and a 12-month high of $239.71. The business’s fifty day simple moving average is $79.15 and its 200-day simple moving average is $126.58. The company has a current ratio of 7.46, a quick ratio of 6.38 and a debt-to-equity ratio of 0.06.
Beyond Meat (NASDAQ:BYND) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.01. Beyond Meat had a negative return on equity of 5.92% and a negative net margin of 8.42%. The business had revenue of $91.96 million for the quarter, compared to the consensus estimate of $83.35 million. Beyond Meat’s quarterly revenue was up 250.0% compared to the same quarter last year. As a group, equities analysts anticipate that Beyond Meat will post -0.2 earnings per share for the current year.
Beyond Meat Company Profile
Beyond Meat, Inc, a food company, manufactures, markets, and sells plant-based meat products in the United States and internationally. The company sells its products under the Beyond Beef, Beyond Chicken, The Beyond Burger, Beyond Meat, Beyond Sausage, Eat What You Love, and The Cookout Classic brand names.
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