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

Beyond Meat, Inc. (NASDAQ:BYND) has earned a consensus recommendation of “Strong Sell” from the nine research firms that are presently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $0.8250.

A number of equities research analysts have recently issued reports on the company. BMO Capital Markets cut their target price on Beyond Meat from $4.00 to $1.00 and set a “market perform” rating on the stock in a research report on Monday, April 6th. Zacks Research upgraded Beyond Meat from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. Finally, Barclays lowered their price target on Beyond Meat from $1.00 to $0.50 and set an “underweight” rating on the stock in a report on Thursday, April 2nd.

Beyond Meat Price Performance

Shares of Beyond Meat stock opened at $0.68 on Wednesday. The stock’s fifty day moving average is $0.79 and its 200-day moving average is $0.85. The firm has a market capitalization of $351.10 million, a PE ratio of -0.31 and a beta of 2.78. Beyond Meat has a 12-month low of $0.50 and a 12-month high of $7.69.

Beyond Meat (NASDAQ:BYND) last announced its earnings results on Wednesday, May 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The company had revenue of $58.21 million for the quarter, compared to analyst estimates of $58.02 million. Beyond Meat had a negative return on equity of 54.39% and a net margin of 54.95%. Analysts expect that Beyond Meat will post -0.35 EPS for the current year.

Insider Transactions at Beyond Meat

In other Beyond Meat news, CFO Lubi Kutua sold 419,042 shares of the business’s stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $0.60, for a total value of $251,425.20. Following the completion of the sale, the chief financial officer owned 5,749,967 shares of the company’s stock, valued at $3,449,980.20. The trade was a 6.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Teri L. Witteman sold 29,978 shares of the business’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $1.00, for a total value of $29,978.00. Following the completion of the sale, the insider directly owned 4,178,194 shares of the company’s stock, valued at $4,178,194. This represents a 0.71% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.90% of the company’s stock.

Institutional Trading of Beyond Meat

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its position in shares of Beyond Meat by 445.0% in the fourth quarter. Geode Capital Management LLC now owns 9,927,157 shares of the company’s stock worth $8,142,000 after buying an additional 8,105,718 shares during the last quarter. UBS Group AG raised its holdings in Beyond Meat by 674.8% in the 4th quarter. UBS Group AG now owns 9,788,528 shares of the company’s stock valued at $8,027,000 after acquiring an additional 8,525,183 shares in the last quarter. Vanguard Group Inc. raised its holdings in Beyond Meat by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 4,780,045 shares of the company’s stock valued at $9,034,000 after acquiring an additional 69,423 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Beyond Meat by 497.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,383,511 shares of the company’s stock valued at $2,774,000 after acquiring an additional 2,816,778 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Beyond Meat by 7.5% in the 1st quarter. Bank of New York Mellon Corp now owns 1,012,988 shares of the company’s stock valued at $711,000 after purchasing an additional 70,513 shares during the period. Institutional investors and hedge funds own 52.48% of the company’s stock.

About Beyond Meat

Beyond Meat, Inc (NASDAQ: BYND) develops, manufactures and sells plant-based meat substitutes designed to replicate the taste, texture and appearance of animal-based proteins. Since its founding in 2009 by Ethan Brown and initial public offering in 2019, the company has focused on leveraging proprietary technology and ingredient blends to produce a suite of products that cater to both retail and foodservice channels. Beyond Meat’s mission centers on offering more sustainable protein options by reducing reliance on livestock farming and its associated environmental footprint.

The company’s product portfolio includes Beyond Burger, Beyond Sausage, Beyond Beef and Beyond Chicken, each formulated to appeal to a broad range of consumers seeking meat alternatives without compromising on flavor or cooking versatility.