Beyond Meat (NASDAQ:BYND) Upgraded at Wall Street Zen

Beyond Meat (NASDAQ:BYND) was upgraded by investment analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued on Sunday.

Other research analysts also recently issued reports about the stock. Zacks Research raised shares of Beyond Meat from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. Weiss Ratings reissued a “sell (d)” rating on shares of Beyond Meat in a research report on Wednesday. BMO Capital Markets cut their price target on shares of Beyond Meat from $4.00 to $1.00 and set a “market perform” rating on the stock in a report on Monday, April 6th. Finally, Barclays decreased their price objective on shares of Beyond Meat from $1.00 to $0.50 and set an “underweight” rating on the stock in a research report on Thursday, April 2nd. Three equities research analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Strong Sell” and a consensus price target of $0.82.

Beyond Meat Stock Performance

BYND stock traded down $0.02 during trading on Friday, hitting $0.66. 36,342,707 shares of the company traded hands, compared to its average volume of 28,254,656. The company has a 50-day moving average of $0.75 and a 200-day moving average of $0.79. Beyond Meat has a 1 year low of $0.50 and a 1 year high of $7.69. The firm has a market capitalization of $338.06 million, a PE ratio of -0.30 and a beta of 2.75.

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

Insider Buying and Selling

In related news, CFO Lubi Kutua sold 419,042 shares of the firm’s stock in a transaction on 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. This trade represents a 6.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Teri L. Witteman sold 29,978 shares of Beyond Meat stock in a transaction on Monday, April 20th. The shares were sold at an average price of $1.00, for a total transaction of $29,978.00. Following the completion of the sale, the insider owned 4,178,194 shares in the company, valued at approximately $4,178,194. This trade 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. 1.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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

Beyond Meat Company Profile

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.