Beyond Meat (NASDAQ:BYND) Stock Rating Lowered by Zacks Research

Beyond Meat (NASDAQ:BYND) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Tuesday,Zacks.com reports.

Other equities research analysts have also issued research reports about the company. BMO Capital Markets dropped their price objective on Beyond Meat from $4.00 to $1.00 and set a “market perform” rating for the company in a research note on Monday. Barclays dropped their price target on Beyond Meat from $1.00 to $0.50 and set an “underweight” rating for the company in a research note on Thursday, April 2nd. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Beyond Meat in a research note on Wednesday, January 21st. Two investment analysts have rated the stock with a Hold rating and seven have given a Sell rating to the company’s stock. Based on data from MarketBeat, Beyond Meat currently has an average rating of “Strong Sell” and an average price target of $0.83.

Beyond Meat Stock Performance

NASDAQ:BYND opened at $0.60 on Tuesday. The firm has a market capitalization of $273.21 million, a price-to-earnings ratio of -0.21 and a beta of 2.67. Beyond Meat has a 52-week low of $0.50 and a 52-week high of $7.69. The stock has a fifty day moving average of $0.72 and a 200 day moving average of $1.15.

Beyond Meat (NASDAQ:BYND) last posted 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 the consensus estimate of $63.00 million. Equities analysts forecast that Beyond Meat will post -2.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Beyond Meat

A number of hedge funds have recently made changes to their positions in BYND. UBS Group AG lifted its holdings in shares of Beyond Meat by 674.8% in the 4th quarter. UBS Group AG now owns 9,788,528 shares of the company’s stock worth $8,027,000 after acquiring an additional 8,525,183 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of 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 acquiring an additional 8,105,718 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Beyond Meat by 497.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,383,511 shares of the company’s stock valued at $2,774,000 after acquiring an additional 2,816,778 shares during the last quarter. GMT Capital Corp bought a new stake in shares of Beyond Meat in the 2nd quarter valued at about $5,046,000. Finally, Vontobel Holding Ltd. lifted its stake in shares of Beyond Meat by 38.0% in the 3rd quarter. Vontobel Holding Ltd. now owns 2,917,994 shares of the company’s stock valued at $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.

About Beyond Meat

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.