Beyond Meat (NASDAQ:BYND) PT Lowered to $6.00 at Mizuho

Beyond Meat (NASDAQ:BYND) had its target price lowered by Mizuho from $7.00 to $6.00 in a research note published on Monday morning, Benzinga reports. Mizuho currently has an underperform rating on the stock.

Several other research analysts have also issued reports on BYND. Argus upgraded Beyond Meat from a sell rating to a hold rating in a research report on Thursday, February 29th. BMO Capital Markets raised 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. Finally, TD Cowen reduced their price target on Beyond Meat from $10.00 to $6.00 and set a sell rating on the stock in a research report on Wednesday, April 17th. Five research analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Reduce and an average price target of $5.83.

Beyond Meat Stock Performance

Shares of BYND opened at $6.06 on Monday. The firm has a market capitalization of $391.96 million, a price-to-earnings ratio of -1.16 and a beta of 2.41. The business’s fifty day moving average price is $7.69 and its two-hundred day moving average price is $7.64. Beyond Meat has a 52 week low of $5.58 and a 52 week high of $19.25.

Beyond Meat (NASDAQ:BYND) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($2.40) EPS 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 analysts’ expectations of $66.66 million. The business’s revenue was down 7.8% on a year-over-year basis. During the same quarter last year, the firm earned ($1.05) EPS. As a group, research analysts forecast that Beyond Meat will post -2.46 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise lifted its holdings in Beyond Meat by 117.4% during the first quarter. Banque Cantonale Vaudoise now owns 3,220 shares of the company’s stock worth $26,000 after acquiring an additional 1,739 shares in the last quarter. Clear Street Markets LLC bought a new position in Beyond Meat during the third quarter worth about $31,000. Quest Partners LLC bought a new position in Beyond Meat during the fourth quarter worth about $48,000. Scarborough Advisors LLC acquired a new stake in shares of Beyond Meat in the 4th quarter valued at about $62,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of Beyond Meat in the 3rd quarter valued at about $84,000. 52.48% of the stock is currently owned by institutional investors.

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.