Beyond Meat, Inc. (NASDAQ:BYND) Sees Significant Decrease in Short Interest

Beyond Meat, Inc. (NASDAQ:BYND) was the recipient of a large decline in short interest in the month of August. As of August 14th, there was short interest totaling 5,121,711 shares, a decline of 96.1% from the July 30th total of 130,476,904 shares. Approximately 30.4% of the shares of the company are short sold. Based on an average daily trading volume, of 2,275,140 shares, the days-to-cover ratio is currently 2.3 days.

Wall Street Analyst Weigh In

BYND has been the subject of several recent research reports. Zacks Research raised shares of Beyond Meat from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Weiss Ratings reissued a “sell (d)” rating on shares of Beyond Meat in a report on Wednesday, July 8th. Wall Street Zen upgraded Beyond Meat from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 12th. Finally, Barclays reaffirmed an “underweight” rating and issued a $10.00 price target (up from $0.50) on shares of Beyond Meat in a research note on Monday, August 17th. Three research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Strong Sell” and a consensus target price of $23.50.

Institutional Investors Weigh In On Beyond Meat

A number of large investors have recently bought and sold shares of BYND. Two Sigma Securities LLC increased its holdings in Beyond Meat by 64.9% during the 2nd quarter. Two Sigma Securities LLC now owns 51,002 shares of the company’s stock valued at $38,000 after purchasing an additional 20,070 shares in the last quarter. Van ECK Associates Corp acquired a new position in Beyond Meat in the second quarter worth $106,000. Hsbc Holdings PLC boosted its stake in Beyond Meat by 1,879.0% in the second quarter. Hsbc Holdings PLC now owns 661,842 shares of the company’s stock worth $511,000 after purchasing an additional 628,398 shares in the last quarter. PenderFund Capital Management Ltd. bought a new stake in shares of Beyond Meat during the second quarter worth $89,000. Finally, One68 Global Capital LLC bought a new stake in shares of Beyond Meat during the second quarter worth $60,000. 52.48% of the stock is currently owned by institutional investors.

Beyond Meat Price Performance

NASDAQ:BYND traded up $0.04 on Tuesday, reaching $14.19. The stock had a trading volume of 762,990 shares, compared to its average volume of 1,569,269. The company has a quick ratio of 2.07, a current ratio of 2.63 and a debt-to-equity ratio of 6.57. The company has a market capitalization of $243.78 million, a P/E ratio of -0.26 and a beta of 2.78. Beyond Meat has a 1-year low of $10.71 and a 1-year high of $230.70. The stock has a fifty day moving average price of $17.80 and a 200-day moving average price of $21.09.

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.