Beyond Meat, Inc. (NASDAQ:BYND) Receives Consensus Rating of “Strong Sell” from Analysts

Beyond Meat, Inc. (NASDAQ:BYND) has earned an average rating of “Strong Sell” from the nine ratings firms that are currently covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $0.8250.

Several equities research analysts recently issued reports on BYND shares. BMO Capital Markets cut their price target on Beyond Meat from $4.00 to $1.00 and set a “market perform” rating for the company in a research note on Monday, April 6th. Barclays reduced their target price on Beyond Meat from $1.00 to $0.50 and set an “underweight” rating on the stock in a report on Thursday, April 2nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Beyond Meat in a research report on Wednesday. Finally, Zacks Research upgraded shares of Beyond Meat from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st.

Beyond Meat Stock Performance

Shares of BYND stock traded down $0.02 on Friday, hitting $0.66. The company’s stock had a trading volume of 36,342,707 shares, compared to its average volume of 28,254,656. Beyond Meat has a fifty-two week low of $0.50 and a fifty-two week high of $7.69. The company has a market capitalization of $338.06 million, a PE ratio of -0.30 and a beta of 2.75. The stock’s 50 day moving average is $0.75 and its 200-day moving average is $0.79.

Beyond Meat (NASDAQ:BYND) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. Beyond Meat had a net margin of 54.95% and a negative return on equity of 54.39%. The firm had revenue of $58.21 million during the quarter, compared to the consensus estimate of $58.02 million. On average, research analysts forecast that Beyond Meat will post -0.35 earnings per share for the current year.

Insider Transactions at Beyond Meat

In other news, insider Teri L. Witteman sold 29,978 shares of the stock in a transaction on Monday, April 20th. The stock was sold at an average price of $1.00, for a total value of $29,978.00. Following the completion of the transaction, the insider directly owned 4,178,194 shares in the company, valued at approximately $4,178,194. This represents a 0.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Lubi Kutua sold 419,042 shares of the stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $0.60, for a total value of $251,425.20. Following the completion of the transaction, the chief financial officer owned 5,749,967 shares of the company’s stock, valued at $3,449,980.20. This represents a 6.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Beyond Meat

Several large investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company increased its holdings in Beyond Meat by 22.5% in the second quarter. The Manufacturers Life Insurance Company now owns 28,047 shares of the company’s stock worth $98,000 after purchasing an additional 5,143 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Beyond Meat by 8.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,749 shares of the company’s stock valued at $275,000 after acquiring an additional 6,020 shares in the last quarter. Pitcairn Co. acquired a new position in shares of Beyond Meat during the 2nd quarter valued at $37,000. Cerity Partners LLC boosted its stake in Beyond Meat by 76.2% during the second quarter. Cerity Partners LLC now owns 24,958 shares of the company’s stock worth $87,000 after acquiring an additional 10,792 shares in the last quarter. Finally, Cetera Investment Advisers grew its holdings in Beyond Meat by 66.4% in the second quarter. Cetera Investment Advisers now owns 27,378 shares of the company’s stock worth $96,000 after purchasing an additional 10,924 shares during the period. Institutional investors own 52.48% of the company’s stock.

Beyond Meat Company Profile

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.