Beyond Meat (NASDAQ:BYND) Cut to Strong Sell at Wall Street Zen

Wall Street Zen cut shares of Beyond Meat (NASDAQ:BYND) from a sell rating to a strong sell rating in a research report sent to investors on Saturday,Wall Street Zen reports.

BYND has been the topic of a number of other reports. Zacks Research upgraded Beyond Meat from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. Weiss Ratings reiterated a “sell (d)” rating on shares of Beyond Meat in a report on Wednesday, July 8th. Finally, Barclays restated an “underweight” rating and issued a $10.00 target price (up from $0.50) on shares of Beyond Meat in a report on Monday, August 17th. Three research analysts have rated the stock with a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Strong Sell” and a consensus price target of $23.50.

Beyond Meat Price Performance

Shares of NASDAQ BYND opened at $11.79 on Friday. The company’s fifty day simple moving average is $16.34 and its 200 day simple moving average is $20.53. Beyond Meat has a 12-month low of $10.71 and a 12-month high of $230.70. The firm has a market cap of $202.67 million, a PE ratio of -0.21 and a beta of 2.76. The company has a quick ratio of 2.07, a current ratio of 2.63 and a debt-to-equity ratio of 6.57.

Institutional Investors Weigh In On Beyond Meat

Several hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC bought a new position in Beyond Meat in the 1st quarter worth about $590,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Beyond Meat by 28.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 72,729 shares of the company’s stock valued at $222,000 after buying an additional 16,044 shares during the last quarter. Envestnet Asset Management Inc. bought a new position in Beyond Meat in the second quarter valued at about $70,000. Geode Capital Management LLC boosted its holdings in shares of Beyond Meat by 15.7% in the second quarter. Geode Capital Management LLC now owns 1,843,998 shares of the company’s stock worth $6,437,000 after buying an additional 250,628 shares during the last quarter. Finally, Cetera Investment Advisers boosted its stake in shares of Beyond Meat by 66.4% during the 2nd quarter. Cetera Investment Advisers now owns 27,378 shares of the company’s stock worth $96,000 after acquiring an additional 10,924 shares during the last quarter. 52.48% of the stock is 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.