Beyond Meat (NASDAQ:BYND) Stock Price Up 4.9%

Beyond Meat, Inc. (NASDAQ:BYND)’s share price shot up 4.9% on Tuesday . The company traded as high as $8.35 and last traded at $8.32. 1,451,100 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 3,734,161 shares. The stock had previously closed at $7.93.

Analyst Ratings Changes

Several analysts have issued reports on BYND shares. BMO Capital Markets raised their price objective on shares of Beyond Meat from $7.00 to $10.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 28th. Mizuho upped their price objective on Beyond Meat from $5.00 to $7.00 and gave the company an “underperform” rating in a research report on Thursday, February 29th. Finally, Argus raised shares of Beyond Meat from a “sell” rating to a “hold” rating in a research note on Thursday, February 29th. Five equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. According to MarketBeat.com, Beyond Meat currently has an average rating of “Reduce” and a consensus target price of $6.67.

Beyond Meat Price Performance

The firm has a fifty day moving average of $7.60 and a two-hundred day moving average of $8.01. The stock has a market capitalization of $535.55 million, a P/E ratio of -1.58 and a beta of 2.44.

Beyond Meat (NASDAQ:BYND) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($2.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($1.58). The firm had revenue of $73.68 million for the quarter, compared to analysts’ expectations of $66.66 million. The business’s quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.05) EPS. As a group, sell-side analysts forecast that Beyond Meat, Inc. will post -2.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Beyond Meat

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ensign Peak Advisors Inc grew its stake in shares of Beyond Meat by 1.9% during the first quarter. Ensign Peak Advisors Inc now owns 19,988 shares of the company’s stock worth $966,000 after acquiring an additional 372 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of Beyond Meat by 12.8% during the first quarter. Cetera Investment Advisers now owns 4,355 shares of the company’s stock valued at $210,000 after buying an additional 493 shares during the last quarter. Captrust Financial Advisors increased its position in shares of Beyond Meat by 48.6% in the 2nd quarter. Captrust Financial Advisors now owns 1,746 shares of the company’s stock valued at $42,000 after acquiring an additional 571 shares during the period. US Bancorp DE increased its position in shares of Beyond Meat by 12.5% in the 1st quarter. US Bancorp DE now owns 5,137 shares of the company’s stock valued at $248,000 after acquiring an additional 571 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in Beyond Meat by 2.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 25,187 shares of the company’s stock worth $310,000 after acquiring an additional 672 shares during the last quarter. Hedge funds and other institutional investors own 52.48% of the company’s stock.

About Beyond Meat

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.