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 report issued on Saturday,Wall Street Zen reports.

Several other research firms have also recently weighed in on BYND. Barclays cut their target price on Beyond Meat from $10.00 to $5.00 and set an “underweight” rating for the company in a research note on Thursday, November 5th. Weiss Ratings restated a “sell (d)” rating on shares of Beyond Meat in a research report on Friday, October 2nd. Two analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Strong Sell” and an average price target of $21.67.

Beyond Meat Stock Up 1.2%

Shares of Beyond Meat stock opened at $6.10 on Friday. The company has a current ratio of 2.63, a quick ratio of 2.07 and a debt-to-equity ratio of 6.57. Beyond Meat has a 12-month low of $5.75 and a 12-month high of $44.40. The firm’s 50-day moving average price is $8.68 and its two-hundred day moving average price is $18.05.

Beyond Meat (NASDAQ:BYND) last issued its earnings results on Wednesday, November 4th. The company reported ($2.21) EPS for the quarter, missing the consensus estimate of ($1.97) by ($0.24). Beyond Meat had a net margin of 88.10% and a return on equity of 1,578.22%. The firm had revenue of $64.53 million during the quarter, compared to analyst estimates of $62.00 million. As a group, sell-side analysts predict that Beyond Meat will post -13.81 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. State of Wyoming acquired a new position in shares of Beyond Meat in the first quarter worth approximately $27,000. Chicago Partners Investment Group LLC acquired a new stake in Beyond Meat during the 1st quarter valued at approximately $29,000. Two Sigma Securities LLC raised its holdings in Beyond Meat by 64.9% during the 2nd quarter. Two Sigma Securities LLC now owns 51,002 shares of the company’s stock worth $38,000 after purchasing an additional 20,070 shares during the last quarter. Perigon Wealth Management LLC bought a new position in Beyond Meat during the 2nd quarter worth approximately $51,000. Finally, One68 Global Capital LLC bought a new position in Beyond Meat during the 2nd quarter worth approximately $60,000. 52.48% of the stock is owned by institutional investors.

Beyond Meat Company Profile

Beyond Meat, Inc develops, manufactures and markets plant-based meat products designed to replicate the taste, texture and nutritional characteristics of animal-based meat. Its product portfolio has included plant-based beef, chicken and sausage alternatives, such as burgers, ground meat, breakfast sausage and breaded chicken products.

The company sells its products through grocery and retail outlets, restaurants, foodservice distributors and other commercial channels. Beyond Meat has served customers in the United States and international markets, with products available in various countries across North America, Europe and Asia-Pacific through retail and foodservice partnerships.

Founded in 2009 by Ethan Brown, Beyond Meat is headquartered in El Segundo, California.