Beyond Meat (NASDAQ:BYND) Trading Down 2.8%

Beyond Meat, Inc. (NASDAQ:BYND)’s share price dropped 2.8% during trading on Monday . The stock traded as low as $7.94 and last traded at $8.00. Approximately 1,048,398 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 3,115,028 shares. The stock had previously closed at $8.23.

Analyst Ratings Changes

Several equities analysts recently weighed in on BYND shares. TD Cowen cut their target price on shares of Beyond Meat from $10.00 to $6.00 and set a “sell” rating for the company in a research note on Wednesday, April 17th. Argus raised Beyond Meat from a “sell” rating to a “hold” rating in a research note on Thursday, February 29th. Mizuho reduced their price objective on Beyond Meat from $7.00 to $6.00 and set an “underperform” rating on the stock in a research note on Monday, April 22nd. Finally, BMO Capital Markets increased their target price on Beyond Meat from $7.00 to $10.00 and gave the company a “market perform” rating in a research report on Wednesday, February 28th. Five analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $5.83.

Beyond Meat Stock Performance

The firm has a market cap of $531.02 million, a P/E ratio of -1.57 and a beta of 2.42. The firm’s fifty day moving average price is $7.64 and its 200 day moving average price is $7.58.

Beyond Meat (NASDAQ:BYND) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.05). The firm had revenue of $75.60 million during the quarter, compared to analyst estimates of $75.24 million. The company’s revenue for the quarter was down 18.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.92) EPS. As a group, analysts expect that Beyond Meat, Inc. will post -2.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Clear Street Markets LLC purchased a new position in shares of Beyond Meat in the third quarter worth about $31,000. Banque Cantonale Vaudoise lifted its position in Beyond Meat by 117.4% during the first quarter. Banque Cantonale Vaudoise now owns 3,220 shares of the company’s stock valued at $26,000 after purchasing an additional 1,739 shares during the period. Quest Partners LLC purchased a new stake in Beyond Meat in the fourth quarter valued at $48,000. Scarborough Advisors LLC purchased a new position in shares of Beyond Meat during the 4th quarter valued at about $62,000. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of Beyond Meat in the 3rd quarter valued at about $84,000. Hedge funds and other institutional investors own 52.48% of the company’s stock.

Beyond Meat Company Profile

Beyond Meat, Inc, a plant-based meat company, develops, manufactures, markets, and sells plant-based meat products in the United States and internationally. The company sells a range of plant-based meat products across the platforms of beef, pork, and poultry. It sells its products through grocery, mass merchandiser, club stores, and natural retailer channels, as well as various food-away-from-home channels, including restaurants, foodservice outlets, and schools.