Beyond Meat (NASDAQ:BYND) PT Lowered to $6.00 at TD Cowen

Beyond Meat (NASDAQ:BYND) had its price objective trimmed by TD Cowen from $10.00 to $6.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has a sell rating on the stock.

A number of other brokerages have also recently issued reports on BYND. Argus upgraded shares of Beyond Meat from a sell rating to a hold rating in a report on Thursday, February 29th. Mizuho upped their price objective on shares of Beyond Meat from $5.00 to $7.00 and gave the stock an underperform rating in a report on Thursday, February 29th. Finally, BMO Capital Markets upped their price objective on shares of Beyond Meat from $7.00 to $10.00 and gave the stock a market perform rating in a report on Wednesday, February 28th. Five analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to MarketBeat, the company has an average rating of Reduce and a consensus target price of $6.00.

Beyond Meat Trading Up 0.2 %

NASDAQ BYND opened at $6.41 on Wednesday. Beyond Meat has a 1-year low of $5.58 and a 1-year high of $19.25. The company has a market capitalization of $414.60 million, a PE ratio of -1.22 and a beta of 2.41. The firm’s fifty day simple moving average is $7.73 and its 200-day simple moving average is $7.69.

Beyond Meat (NASDAQ:BYND) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($2.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($1.58). The company had revenue of $73.68 million for the quarter, compared to analysts’ expectations of $66.66 million. The company’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.05) EPS. As a group, analysts predict that Beyond Meat will post -2.46 EPS for the current year.

Institutional Investors Weigh In On Beyond Meat

Hedge funds have recently bought and sold shares of the company. Compagnie Lombard Odier SCmA boosted its holdings in Beyond Meat by 16.3% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 25,000 shares of the company’s stock valued at $222,000 after acquiring an additional 3,500 shares during the period. Vontobel Holding Ltd. boosted its holdings in Beyond Meat by 716.7% during the third quarter. Vontobel Holding Ltd. now owns 359,718 shares of the company’s stock valued at $3,460,000 after acquiring an additional 315,671 shares during the period. Gotham Asset Management LLC boosted its holdings in Beyond Meat by 5.6% during the third quarter. Gotham Asset Management LLC now owns 31,165 shares of the company’s stock valued at $300,000 after acquiring an additional 1,646 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Beyond Meat by 6.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 483,732 shares of the company’s stock valued at $4,654,000 after acquiring an additional 30,998 shares during the period. Finally, Sigma Planning Corp bought a new stake in Beyond Meat during the third quarter valued at about $98,000. 52.48% of the stock is currently owned by institutional investors.

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.