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

Shares of Beyond Meat, Inc. (NASDAQ:BYND) have been given a consensus recommendation of “Strong Sell” by the seven analysts that are presently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $23.50.

BYND has been the topic of a number of recent analyst reports. Barclays restated an “underweight” rating and set a $10.00 price target (up from $0.50) on shares of Beyond Meat in a report on Monday, August 17th. Zacks Research upgraded shares of Beyond Meat from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Weiss Ratings reiterated a “sell (d)” rating on shares of Beyond Meat in a research report on Wednesday, July 8th. Finally, Wall Street Zen raised Beyond Meat from a “strong sell” rating to a “sell” rating in a research report on Sunday, September 13th.

Institutional Trading of Beyond Meat

Several institutional investors have recently made changes to their positions in the stock. Engineers Gate Manager LP purchased a new position in Beyond Meat during the second quarter valued at approximately $71,000. Integrated Wealth Concepts LLC boosted its stake in shares of Beyond Meat by 148.0% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 109,154 shares of the company’s stock valued at $82,000 after buying an additional 65,145 shares during the period. Squarepoint Ops LLC purchased a new position in shares of Beyond Meat during the 2nd quarter valued at $1,550,000. Two Sigma Securities LLC increased its stake in shares of Beyond Meat by 64.9% in the second quarter. Two Sigma Securities LLC now owns 51,002 shares of the company’s stock worth $38,000 after acquiring an additional 20,070 shares during the last quarter. Finally, Van ECK Associates Corp acquired a new stake in Beyond Meat during the second quarter valued at $106,000. 52.48% of the stock is currently owned by institutional investors and hedge funds.

Beyond Meat Trading Up 1.8%

Shares of BYND traded up $0.21 during midday trading on Friday, hitting $11.91. The stock had a trading volume of 334,580 shares, compared to its average volume of 1,511,975. Beyond Meat has a fifty-two week low of $9.81 and a fifty-two week high of $230.70. The business has a 50-day simple moving average of $14.63 and a two-hundred day simple moving average of $19.82. The firm has a market cap of $204.75 million, a P/E ratio of -0.21 and a beta of 2.76. The company has a current ratio of 2.63, a quick ratio of 2.07 and a debt-to-equity ratio of 6.57.

About Beyond Meat

Beyond Meat, Inc develops, produces and markets plant-based meat alternatives designed to replicate the taste, texture and nutritional attributes of conventional animal-based meat. Its products are made primarily from plant-derived ingredients and are intended for consumers seeking alternatives to beef, pork and poultry.

The company’s product portfolio has included plant-based burgers, ground meat, sausages, meatballs, chicken-style tenders and nuggets, and other prepared meat alternatives.