Short Interest in Beyond Meat, Inc. (NASDAQ:BYND) Expands By 5.6%

Beyond Meat, Inc. (NASDAQ:BYND) was the target of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 26,150,000 shares, a growth of 5.6% from the September 30th total of 24,770,000 shares. Based on an average daily volume of 2,720,000 shares, the days-to-cover ratio is presently 9.6 days. Currently, 42.9% of the shares of the company are short sold.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on BYND shares. Mizuho reduced their target price on Beyond Meat from $6.00 to $5.00 and set an “underperform” rating for the company in a report on Monday, August 26th. BMO Capital Markets reduced their price objective on shares of Beyond Meat from $9.00 to $6.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. Five equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat.com, Beyond Meat has an average rating of “Reduce” and a consensus target price of $5.36.

Beyond Meat Stock Down 1.5 %

NASDAQ:BYND opened at $6.09 on Friday. Beyond Meat has a 52 week low of $5.13 and a 52 week high of $12.12. The business’s 50 day moving average is $6.38 and its two-hundred day moving average is $6.62.

Beyond Meat (NASDAQ:BYND) last announced its earnings results on Wednesday, August 7th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.02). The company had revenue of $93.19 million during the quarter, compared to analysts’ expectations of $87.81 million. Beyond Meat’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.83) earnings per share. As a group, equities analysts expect that Beyond Meat will post -2.12 EPS for the current year.

Institutional Trading of Beyond Meat

Institutional investors have recently made changes to their positions in the stock. Quadrature Capital Ltd acquired a new position in Beyond Meat in the 1st quarter valued at $309,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Beyond Meat in the first quarter valued at about $902,000. Nisa Investment Advisors LLC lifted its position in Beyond Meat by 9,676.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 61,789 shares of the company’s stock worth $415,000 after buying an additional 61,157 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Beyond Meat by 3.0% in the first quarter. Vanguard Group Inc. now owns 5,351,777 shares of the company’s stock valued at $44,313,000 after purchasing an additional 155,653 shares in the last quarter. Finally, ProShare Advisors LLC acquired a new stake in shares of Beyond Meat during the 1st quarter worth approximately $88,000. 52.48% of the stock is currently owned by institutional investors and hedge funds.

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.