Beyond Meat, Inc. (NASDAQ:BYND) Given Average Recommendation of “Strong Sell” by Brokerages

Beyond Meat, Inc. (NASDAQ:BYND) has earned an average rating of “Strong Sell” from the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $1.70.

Several brokerages recently commented on BYND. Weiss Ratings reissued a “sell (e+)” rating on shares of Beyond Meat in a research report on Wednesday, January 21st. Mizuho dropped their price objective on Beyond Meat from $1.50 to $1.00 and set an “underperform” rating on the stock in a research note on Thursday, November 13th. Finally, Barclays cut their price objective on Beyond Meat from $2.00 to $1.00 and set an “underweight” rating for the company in a report on Wednesday, November 12th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BYND. Virtu Financial LLC raised its holdings in shares of Beyond Meat by 670.6% in the 4th quarter. Virtu Financial LLC now owns 608,487 shares of the company’s stock valued at $499,000 after purchasing an additional 529,526 shares during the period. Invesco Ltd. grew its holdings in Beyond Meat by 109.8% during the fourth quarter. Invesco Ltd. now owns 411,729 shares of the company’s stock worth $338,000 after purchasing an additional 215,492 shares during the period. Engineers Gate Manager LP increased its position in Beyond Meat by 1,138.9% during the fourth quarter. Engineers Gate Manager LP now owns 336,549 shares of the company’s stock worth $276,000 after buying an additional 309,384 shares during the last quarter. AQR Capital Management LLC increased its position in Beyond Meat by 776.8% during the fourth quarter. AQR Capital Management LLC now owns 484,596 shares of the company’s stock worth $397,000 after buying an additional 429,329 shares during the last quarter. Finally, Jain Global LLC bought a new stake in Beyond Meat in the fourth quarter valued at approximately $250,000. Institutional investors own 52.48% of the company’s stock.

Beyond Meat Price Performance

Beyond Meat stock opened at $0.84 on Monday. The company has a market cap of $381.09 million, a price-to-earnings ratio of -0.27 and a beta of 2.61. The firm has a 50-day moving average of $0.85 and a 200-day moving average of $1.50. Beyond Meat has a one year low of $0.50 and a one year high of $7.69.

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.