Beyond Meat (NASDAQ:BYND) Given New $6.00 Price Target at Mizuho

Beyond Meat (NASDAQ:BYND) had its price objective cut by Mizuho from $7.00 to $6.00 in a report issued on Monday, Benzinga reports. They currently have an underperform rating on the stock.

Other equities analysts also recently issued reports about the stock. Argus raised shares of Beyond Meat from a sell rating to a hold rating in a research note on Thursday, February 29th. BMO Capital Markets upped their price objective on shares of 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, TD Cowen lowered their price objective on shares of Beyond Meat from $10.00 to $6.00 and set a sell rating for the company in a research note on Wednesday, April 17th. Five analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Reduce and an average target price of $5.83.

Beyond Meat Trading Down 0.2 %

Shares of NASDAQ:BYND opened at $6.06 on Monday. The company has a market cap of $391.96 million, a price-to-earnings ratio of -1.16 and a beta of 2.41. The company has a 50-day moving average price of $7.69 and a 200-day moving average price of $7.64. Beyond Meat has a 12 month low of $5.58 and a 12 month high of $19.25.

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

Hedge Funds Weigh In On Beyond Meat

A number of institutional investors have recently bought and sold shares of the stock. Compagnie Lombard Odier SCmA grew its holdings in Beyond Meat by 16.3% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 25,000 shares of the company’s stock worth $222,000 after purchasing an additional 3,500 shares during the period. Gotham Asset Management LLC grew its holdings in Beyond Meat by 5.6% in the third quarter. Gotham Asset Management LLC now owns 31,165 shares of the company’s stock worth $300,000 after purchasing an additional 1,646 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Beyond Meat by 6.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 483,732 shares of the company’s stock worth $4,654,000 after purchasing an additional 30,998 shares during the period. Sigma Planning Corp purchased a new stake in Beyond Meat in the third quarter worth about $98,000. Finally, Olympiad Research LP purchased a new stake in Beyond Meat in the third quarter worth about $280,000. 52.48% of the stock is 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.