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

Beyond Meat, Inc. (NASDAQ:BYND) has been given a consensus rating of “Strong Sell” by the seven ratings firms that are covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a sell recommendation and two have given a hold recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $6.67.

A number of equities analysts have issued reports on the company. Mizuho lifted their price target on Beyond Meat from $5.00 to $7.00 and gave the company an “underperform” rating in a research note on Thursday, February 29th. BMO Capital Markets lifted their price target on Beyond Meat from $7.00 to $10.00 and gave the company a “market perform” rating in a research note on Wednesday, February 28th. Finally, Argus upgraded Beyond Meat from a “sell” rating to a “hold” rating in a research note on Thursday, February 29th.

Beyond Meat Stock Performance

Shares of BYND stock opened at $8.28 on Friday. The stock’s fifty day moving average price is $7.60 and its two-hundred day moving average price is $8.01. The company has a market cap of $535.55 million, a PE ratio of -1.58 and a beta of 2.44. Beyond Meat has a fifty-two week low of $5.58 and a fifty-two week high of $19.25.

Beyond Meat (NASDAQ:BYND) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($2.40) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($1.58). The company had revenue of $73.68 million during the quarter, compared to the consensus estimate of $66.66 million. The firm’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter last year, the business posted ($1.05) earnings per share. On average, equities analysts predict that Beyond Meat will post -2.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. MUFG Securities EMEA plc purchased a new position in shares of Beyond Meat during the 1st quarter worth $75,000. Captrust Financial Advisors raised its position in shares of Beyond Meat by 48.6% during the 2nd quarter. Captrust Financial Advisors now owns 1,746 shares of the company’s stock valued at $42,000 after purchasing an additional 571 shares during the period. Clear Street Markets LLC bought a new stake in shares of Beyond Meat during the 3rd quarter valued at $31,000. MetLife Investment Management LLC bought a new stake in shares of Beyond Meat during the 1st quarter valued at $164,000. Finally, Cresset Asset Management LLC raised its position in shares of Beyond Meat by 20.4% during the 1st quarter. Cresset Asset Management LLC now owns 4,337 shares of the company’s stock valued at $210,000 after purchasing an additional 736 shares during the period. Hedge funds and other institutional investors own 52.48% of the company’s stock.

Beyond Meat Company Profile

Beyond Meat, Inc, a plant-based meat company, develops, manufactures, markets, and sells plant-based meat products in the United States and internationally. The company sells a range of plant-based meat products across the platforms of beef, pork, and poultry. It sells its products through grocery, mass merchandiser, club stores, and natural retailer channels, as well as various food-away-from-home channels, including restaurants, foodservice outlets, and schools.