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

Shares of Beyond Meat, Inc. (NASDAQ:BYND) have received an average rating of “Strong Sell” from the eight analysts that are currently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $23.50.

A number of equities analysts have recently weighed in on the company. Barclays reaffirmed an “underweight” rating and set a $10.00 target price (up from $0.50) on shares of Beyond Meat in a research report on Monday, August 17th. Zacks Research raised shares of Beyond Meat from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Wall Street Zen upgraded shares of Beyond Meat from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 12th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Beyond Meat in a report on Wednesday, July 8th.

Institutional Investors Weigh In On Beyond Meat

Several hedge funds and other institutional investors have recently made changes to their positions in BYND. The Manufacturers Life Insurance Company grew its position in shares of Beyond Meat by 22.5% in the second quarter. The Manufacturers Life Insurance Company now owns 28,047 shares of the company’s stock valued at $98,000 after purchasing an additional 5,143 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Beyond Meat by 8.3% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,749 shares of the company’s stock worth $275,000 after purchasing an additional 6,020 shares in the last quarter. Pitcairn Co. bought a new position in Beyond Meat in the 2nd quarter worth about $37,000. Cerity Partners LLC boosted its stake in Beyond Meat by 76.2% in the 2nd quarter. Cerity Partners LLC now owns 24,958 shares of the company’s stock worth $87,000 after purchasing an additional 10,792 shares during the period. Finally, Cetera Investment Advisers grew its holdings in Beyond Meat by 66.4% during the 2nd quarter. Cetera Investment Advisers now owns 27,378 shares of the company’s stock valued at $96,000 after buying an additional 10,924 shares in the last quarter. 52.48% of the stock is owned by institutional investors.

Beyond Meat Stock Down 1.6%

NASDAQ:BYND traded down $0.23 on Monday, hitting $14.54. The stock had a trading volume of 393,040 shares, compared to its average volume of 1,567,487. The company has a quick ratio of 2.07, a current ratio of 2.63 and a debt-to-equity ratio of 6.57. Beyond Meat has a 52 week low of $10.71 and a 52 week high of $230.70. The business’s fifty day moving average is $18.06 and its 200 day moving average is $21.20. The company has a market cap of $249.76 million, a PE ratio of -0.26 and a beta of 2.78.

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.