Beyond Meat, Inc. (NASDAQ:BYND) Given Average Recommendation of “Strong Sell” by Brokerages

Shares of Beyond Meat, Inc. (NASDAQ:BYND) have been given a consensus recommendation of “Strong Sell” by the nine research firms that are covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $5.56.

A number of equities analysts have recently weighed in on BYND shares. The Goldman Sachs Group dropped their target price on Beyond Meat from $4.00 to $3.50 and set a “sell” rating on the stock in a report on Thursday, May 9th. BMO Capital Markets dropped their price objective on shares of Beyond Meat from $10.00 to $9.00 and set a “market perform” rating on the stock in a research note on Thursday, May 9th. Canaccord Genuity Group cut their target price on shares of Beyond Meat from $9.00 to $7.00 and set a “hold” rating for the company in a research report on Friday, May 10th. TD Cowen lowered their price target on shares of Beyond Meat from $10.00 to $6.00 and set a “sell” rating on the stock in a report on Wednesday, April 17th. Finally, Mizuho dropped their price target on shares of Beyond Meat from $7.00 to $6.00 and set an “underperform” rating on the stock in a research note on Monday, April 22nd.

Institutional Investors Weigh In On Beyond Meat

Several institutional investors and hedge funds have recently modified their holdings of BYND. Farther Finance Advisors LLC raised its holdings in Beyond Meat by 18,919.7% during the second quarter. Farther Finance Advisors LLC now owns 50,212 shares of the company’s stock valued at $339,000 after buying an additional 49,948 shares in the last quarter. MUFG Securities EMEA plc raised its stake in shares of Beyond Meat by 29.8% in the 2nd quarter. MUFG Securities EMEA plc now owns 27,413 shares of the company’s stock valued at $184,000 after acquiring an additional 6,300 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Beyond Meat by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 235,016 shares of the company’s stock worth $1,577,000 after purchasing an additional 11,800 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in Beyond Meat by 9,676.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 61,789 shares of the company’s stock worth $415,000 after purchasing an additional 61,157 shares during the last quarter. Finally, Raymond James & Associates bought a new stake in Beyond Meat during the second quarter worth approximately $1,463,000. Institutional investors and hedge funds own 52.48% of the company’s stock.

Beyond Meat Stock Performance

NASDAQ BYND opened at $6.28 on Friday. The firm’s 50 day moving average price is $6.82 and its two-hundred day moving average price is $7.21. The stock has a market cap of $407.51 million, a price-to-earnings ratio of -1.22 and a beta of 2.26. Beyond Meat has a twelve month low of $5.58 and a twelve month high of $17.24.

Beyond Meat (NASDAQ:BYND) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.72) earnings per share 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 quarterly revenue was down 18.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.92) EPS. On average, research analysts forecast that Beyond Meat will post -2.11 EPS for the current fiscal year.

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.