Beyond Meat, Inc. (NASDAQ:BYND) Receives Consensus Rating of “Strong Sell” from Analysts

Beyond Meat, Inc. (NASDAQ:BYND) has earned an average recommendation of “Strong Sell” from the nine brokerages that are covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $0.8250.

Several research analysts recently issued reports on BYND shares. Zacks Research upgraded shares of Beyond Meat from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. BMO Capital Markets reduced their price objective 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. Finally, Barclays dropped their target price on Beyond Meat from $1.00 to $0.50 and set an “underweight” rating for the company in a research report on Thursday, April 2nd.

Insider Buying and Selling

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 transaction, the chief financial officer owned 5,749,967 shares of the company’s stock, valued at approximately $3,449,980.20. The trade was a 6.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 company’s stock in a transaction on 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 owned 4,178,194 shares of the company’s stock, valued at $4,178,194. This trade represents a 0.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Beyond Meat

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pitcairn Co. bought a new stake in Beyond Meat during the 2nd quarter valued at about $37,000. Russell Investments Group Ltd. grew its holdings in Beyond Meat by 400.2% during the third quarter. Russell Investments Group Ltd. now owns 14,786 shares of the company’s stock worth $28,000 after acquiring an additional 11,830 shares during the period. Envestnet Asset Management Inc. acquired a new position in Beyond Meat in the 2nd quarter worth about $70,000. Corient Private Wealth LLC purchased a new position in shares of Beyond Meat in the second quarter valued at approximately $83,000. Finally, Cerity Partners LLC lifted its position in Beyond Meat by 76.2% during the second quarter. Cerity Partners LLC now owns 24,958 shares of the company’s stock worth $87,000 after buying an additional 10,792 shares in the last quarter. 52.48% of the stock is currently owned by hedge funds and other institutional investors.

Beyond Meat Stock Performance

Shares of NASDAQ:BYND remained flat at $0.71 during midday trading on Friday. 20,338,845 shares of the company were exchanged, compared to its average volume of 33,851,000. The stock has a market capitalization of $366.05 million, a PE ratio of -0.32 and a beta of 2.75. Beyond Meat has a 52 week low of $0.50 and a 52 week high of $7.69. The stock has a 50-day simple moving average of $0.77 and a 200 day simple moving average of $0.80.

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

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.