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

Shares of Beyond Meat, Inc. (NASDAQ:BYND) have been given an average recommendation of “Strong Sell” by the seven brokerages that are currently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a sell rating and two have issued a hold rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $6.67.

A number of analysts have weighed in on BYND shares. Argus upgraded Beyond Meat from a “sell” rating to a “hold” rating in a report on Thursday, February 29th. Mizuho upped their price target on Beyond Meat from $5.00 to $7.00 and gave the stock an “underperform” rating in a research report on Thursday, February 29th. Finally, BMO Capital Markets upped their price target on Beyond Meat from $7.00 to $10.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 28th.

Hedge Funds Weigh In On Beyond Meat

Several hedge funds have recently made changes to their positions in BYND. Virtu Financial LLC acquired a new stake in Beyond Meat during the 4th quarter worth about $196,000. Scarborough Advisors LLC acquired a new stake in Beyond Meat during the 4th quarter worth about $62,000. Legal & General Group Plc grew its position in Beyond Meat by 3.6% during the 4th quarter. Legal & General Group Plc now owns 53,535 shares of the company’s stock worth $476,000 after purchasing an additional 1,837 shares during the period. Royal Bank of Canada grew its position in Beyond Meat by 6.8% during 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 period. Finally, Creative Planning grew its position in Beyond Meat by 2.4% during the 4th quarter. Creative Planning now owns 67,696 shares of the company’s stock worth $602,000 after purchasing an additional 1,595 shares during the period. 52.48% of the stock is owned by institutional investors and hedge funds.

Beyond Meat Stock Down 0.1 %

Beyond Meat stock opened at $8.28 on Friday. The business has a fifty day moving average of $7.60 and a two-hundred day moving average of $8.01. The firm has a market cap of $535.55 million, a P/E ratio of -1.58 and a beta of 2.44. Beyond Meat has a twelve month low of $5.58 and a twelve month high of $19.25.

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

Beyond Meat Company Profile

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.