Beyond Meat (NASDAQ:BYND) Upgraded to “Sell” at Wall Street Zen

Wall Street Zen upgraded shares of Beyond Meat (NASDAQ:BYND) from a strong sell rating to a sell rating in a report published on Sunday,Wall Street Zen reports.

Several other analysts have also recently issued reports on BYND. Weiss Ratings reissued a “sell (d)” rating on shares of Beyond Meat in a research note on Wednesday, July 8th. Zacks Research raised Beyond Meat from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Finally, Barclays reiterated an “underweight” rating and issued a $10.00 price objective (up from $0.50) on shares of Beyond Meat in a report on Monday, August 17th. Three investment analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Strong Sell” and a consensus price target of $23.50.

Beyond Meat Price Performance

Shares of Beyond Meat stock opened at $10.21 on Friday. The firm has a market cap of $175.51 million, a PE ratio of -0.18 and a beta of 2.76. Beyond Meat has a 12-month low of $10.16 and a 12-month high of $230.70. 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’s fifty day simple moving average is $15.45 and its two-hundred day simple moving average is $20.22.

Institutional Investors Weigh In On Beyond Meat

A number of large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its position in shares of Beyond Meat by 22.5% during the second quarter. The Manufacturers Life Insurance Company now owns 28,047 shares of the company’s stock valued at $98,000 after purchasing an additional 5,143 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Beyond Meat by 8.3% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,749 shares of the company’s stock worth $275,000 after purchasing an additional 6,020 shares in the last quarter. Pitcairn Co. bought a new position in Beyond Meat in the second quarter worth $37,000. 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 valued at $87,000 after buying an additional 10,792 shares during the period. Finally, Cetera Investment Advisers lifted its position in Beyond Meat by 66.4% during the second quarter. Cetera Investment Advisers now owns 27,378 shares of the company’s stock valued at $96,000 after buying an additional 10,924 shares during the period. Institutional investors own 52.48% of the company’s stock.

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.