Beyond Meat (NASDAQ:BYND) Stock Price Down 2.8%

Beyond Meat, Inc. (NASDAQ:BYND) fell 2.8% during mid-day trading on Monday . The company traded as low as $7.94 and last traded at $8.00. 1,048,398 shares changed hands during trading, a decline of 66% from the average session volume of 3,115,028 shares. The stock had previously closed at $8.23.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Mizuho reduced their target price on Beyond Meat from $7.00 to $6.00 and set an “underperform” rating on the stock in a research note on Monday, April 22nd. BMO Capital Markets raised their price objective on Beyond Meat from $7.00 to $10.00 and gave the company a “market perform” rating in a report on Wednesday, February 28th. TD Cowen cut their target price on Beyond Meat from $10.00 to $6.00 and set a “sell” rating for the company in a research note on Wednesday, April 17th. Finally, Argus raised shares of Beyond Meat from a “sell” rating to a “hold” rating in a research note on Thursday, February 29th. Five investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $5.83.

Beyond Meat Stock Performance

The stock has a 50 day simple moving average of $7.64 and a 200 day simple moving average of $7.56. The firm has a market capitalization of $532.32 million, a PE ratio of -1.54 and a beta of 2.42.

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, equities analysts anticipate that Beyond Meat, Inc. will post -2.29 earnings per share for the current year.

Hedge Funds Weigh In On Beyond Meat

Several hedge funds have recently made changes to their positions in BYND. Compagnie Lombard Odier SCmA grew its stake in shares of Beyond Meat by 16.3% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 25,000 shares of the company’s stock valued at $222,000 after purchasing an additional 3,500 shares during the period. Gotham Asset Management LLC lifted its position in shares of Beyond Meat by 5.6% during the 3rd quarter. Gotham Asset Management LLC now owns 31,165 shares of the company’s stock valued at $300,000 after buying an additional 1,646 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Beyond Meat by 6.8% during the 3rd 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. Sigma Planning Corp bought a new position in shares of Beyond Meat in the third quarter worth approximately $98,000. Finally, Olympiad Research LP bought a new stake in Beyond Meat during the 3rd quarter valued at approximately $280,000. 52.48% of the stock is owned by hedge funds and other 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.