Beyond Meat (NASDAQ:BYND) Stock Price Down 9.8% – Here’s Why

Beyond Meat, Inc. (NASDAQ:BYND)’s share price traded down 9.8% on Thursday . The company traded as low as $0.88 and last traded at $0.88. 99,009,514 shares changed hands during trading, an increase of 92% from the average session volume of 51,531,699 shares. The stock had previously closed at $0.9757.

Analyst Ratings Changes

Several analysts have issued reports on the company. BTIG Research reaffirmed a “neutral” rating on shares of Beyond Meat in a research report on Friday, October 24th. TD Cowen cut their target price on Beyond Meat from $2.00 to $0.80 and set a “sell” rating on the stock in a research note on Tuesday, October 14th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Beyond Meat in a report on Wednesday, October 8th. Argus cut shares of Beyond Meat from a “hold” rating to a “sell” rating in a report on Monday, September 15th. Finally, Mizuho cut their price objective on shares of Beyond Meat from $1.50 to $1.00 and set an “underperform” rating on the stock in a research report on Thursday, November 13th. Two research analysts have rated the stock with a Hold rating and seven have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Strong Sell” and an average target price of $1.70.

Beyond Meat Trading Down 9.8%

The stock has a market capitalization of $399.14 million, a PE ratio of -0.27 and a beta of 2.32. The company’s 50-day moving average is $1.90 and its 200 day moving average is $2.63.

Beyond Meat (NASDAQ:BYND) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.08). The business had revenue of $70.22 million for the quarter, compared to analyst estimates of $68.82 million. Beyond Meat has set its Q4 2025 guidance at EPS. Sell-side analysts forecast that Beyond Meat, Inc. will post -2.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Banco Santander S.A. acquired a new position in Beyond Meat in the 3rd quarter worth approximately $25,000. Savant Capital LLC acquired a new stake in shares of Beyond Meat in the third quarter worth $28,000. Russell Investments Group Ltd. increased its stake in shares of Beyond Meat by 400.2% in the third quarter. Russell Investments Group Ltd. now owns 14,786 shares of the company’s stock worth $28,000 after acquiring an additional 11,830 shares during the period. Pitcairn Co. purchased a new position in shares of Beyond Meat during the second quarter worth $37,000. Finally, Chiron Capital Management LLC acquired a new position in Beyond Meat during the first quarter valued at $38,000. 52.48% of the stock is 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.