Beyond Meat, Inc. (NASDAQ:BYND) Receives Average Recommendation of “Strong Sell” from Analysts

Beyond Meat, Inc. (NASDAQ:BYND) has been assigned a consensus recommendation of “Strong Sell” from the nine ratings firms that are currently covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a sell recommendation and two have given a hold recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $1.70.

Several analysts have issued reports on BYND shares. TD Cowen dropped their price objective 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 reissued a “sell (e+)” rating on shares of Beyond Meat in a report on Wednesday, October 8th. Argus cut Beyond Meat from a “hold” rating to a “sell” rating in a research note on Monday, September 15th. Barclays reduced their price objective on shares of Beyond Meat from $2.00 to $1.00 and set an “underweight” rating for the company in a research report on Wednesday, November 12th. Finally, Cowen reiterated a “sell” rating on shares of Beyond Meat in a report on Tuesday, October 14th.

Beyond Meat Price Performance

Shares of BYND stock opened at $0.98 on Friday. The company has a fifty day moving average price of $1.07 and a two-hundred day moving average price of $2.14. Beyond Meat has a one year low of $0.50 and a one year high of $7.69. The stock has a market cap of $442.38 million, a P/E ratio of -0.30 and a beta of 2.55.

Beyond Meat (NASDAQ:BYND) last released its quarterly earnings data on Monday, November 10th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.08). The firm had revenue of $70.22 million for the quarter, compared to the consensus estimate of $68.82 million. As a group, equities research analysts anticipate that Beyond Meat will post -2.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Vontobel Holding Ltd. increased its stake in shares of Beyond Meat by 20.2% during the second quarter. Vontobel Holding Ltd. now owns 2,113,869 shares of the company’s stock worth $7,377,000 after purchasing an additional 354,965 shares during the period. GMT Capital Corp bought a new stake in Beyond Meat in the 2nd quarter valued at $5,046,000. Vanguard Personalized Indexing Management LLC acquired a new position in Beyond Meat in the 2nd quarter valued at $45,000. GC Wealth Management RIA LLC bought a new position in Beyond Meat during the 2nd quarter worth $49,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Beyond Meat by 1.5% during the third quarter. Vanguard Group Inc. now owns 4,780,045 shares of the company’s stock worth $9,034,000 after buying an additional 69,423 shares in the last quarter. 52.48% of the stock is owned by institutional investors.

Beyond Meat Company Profile

Beyond Meat, Inc (NASDAQ: BYND) develops, manufactures and sells plant-based meat substitutes designed to replicate the taste, texture and appearance of animal-based proteins. Since its founding in 2009 by Ethan Brown and initial public offering in 2019, the company has focused on leveraging proprietary technology and ingredient blends to produce a suite of products that cater to both retail and foodservice channels. Beyond Meat’s mission centers on offering more sustainable protein options by reducing reliance on livestock farming and its associated environmental footprint.

The company’s product portfolio includes Beyond Burger, Beyond Sausage, Beyond Beef and Beyond Chicken, each formulated to appeal to a broad range of consumers seeking meat alternatives without compromising on flavor or cooking versatility.