Beyond Meat, Inc. (NASDAQ:BYND) Receives $0.83 Average Price Target from Analysts

Beyond Meat, Inc. (NASDAQ:BYND) has received a consensus recommendation of “Strong Sell” from the nine ratings firms that are covering the stock, MarketBeat.com reports. Seven investment analysts have rated the stock with a sell rating and two have issued a hold rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $0.8250.

A number of analysts have recently weighed in on BYND shares. BMO Capital Markets reduced their target price on shares of Beyond Meat from $4.00 to $1.00 and set a “market perform” rating on the stock in a report on Monday, April 6th. Zacks Research downgraded shares of Beyond Meat from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 7th. Finally, Barclays reduced their target price on shares of Beyond Meat from $1.00 to $0.50 and set an “underweight” rating on the stock in a report on Thursday, April 2nd.

Beyond Meat Stock Performance

Shares of NASDAQ BYND opened at $0.77 on Friday. The company has a market cap of $394.70 million, a P/E ratio of -0.34 and a beta of 2.85. The firm’s fifty day moving average is $0.77 and its two-hundred day moving average is $0.89. Beyond Meat has a 52-week low of $0.50 and a 52-week high of $7.69.

Beyond Meat (NASDAQ:BYND) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. Beyond Meat had a net margin of 54.95% and a negative return on equity of 54.39%. The company had revenue of $58.21 million for the quarter, compared to the consensus estimate of $58.02 million. As a group, analysts forecast that Beyond Meat will post -0.35 EPS for the current fiscal year.

Insider Transactions at Beyond Meat

In related news, CFO Lubi Kutua sold 419,042 shares of Beyond Meat stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $0.60, for a total transaction of $251,425.20. Following the completion of the transaction, the chief financial officer directly owned 5,749,967 shares of the company’s stock, valued at approximately $3,449,980.20. The trade was a 6.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Teri L. Witteman sold 29,978 shares of Beyond Meat stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $1.00, for a total transaction of $29,978.00. Following the transaction, the insider directly owned 4,178,194 shares of the company’s stock, valued at approximately $4,178,194. This represents a 0.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Beyond Meat

Large investors have recently made changes to their positions in the company. UBS Group AG boosted its stake in shares of Beyond Meat by 674.8% during the 4th quarter. UBS Group AG now owns 9,788,528 shares of the company’s stock worth $8,027,000 after purchasing an additional 8,525,183 shares during the period. Chicago Partners Investment Group LLC purchased a new stake in Beyond Meat in the 1st quarter valued at about $29,000. Ascentis Independent Advisors boosted its position in Beyond Meat by 410.2% in the 1st quarter. Ascentis Independent Advisors now owns 102,043 shares of the company’s stock valued at $72,000 after buying an additional 82,043 shares during the period. Krilogy Financial LLC purchased a new stake in Beyond Meat in the 1st quarter valued at about $56,000. Finally, Evolve Private Wealth LLC purchased a new stake in Beyond Meat in the 1st quarter valued at about $25,000. 52.48% of the stock is owned by hedge funds and other 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.