Beyond Meat, Inc. (NASDAQ:BYND) Stock Has Consensus Price Target of $23.50

Shares of Beyond Meat, Inc. (NASDAQ:BYND) have earned a consensus rating of “Reduce” from the six research firms that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $23.33.

Several equities research analysts recently issued reports on the company. Wall Street Zen upgraded Beyond Meat from a “strong sell” rating to a “sell” rating in a report on Sunday, September 13th. Barclays reissued an “underweight” rating and issued a $10.00 price target (up from $0.50) on shares of Beyond Meat in a research report on Monday, August 17th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Beyond Meat in a research note on Friday, October 2nd.

Institutional Trading of Beyond Meat

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Beyond Meat during the second quarter worth about $6,753,000. Squarepoint Ops LLC bought a new stake in Beyond Meat in the 2nd quarter worth about $1,550,000. Ieq Capital LLC bought a new stake in Beyond Meat in the 2nd quarter worth about $933,000. Bank of New York Mellon Corp grew its position in Beyond Meat by 7.5% in the 1st quarter. Bank of New York Mellon Corp now owns 1,012,988 shares of the company’s stock worth $711,000 after purchasing an additional 70,513 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in Beyond Meat in the 2nd quarter valued at about $511,000. Institutional investors own 52.48% of the company’s stock.

Beyond Meat Stock Down 4.1%

BYND stock opened at $6.57 on Tuesday. Beyond Meat has a twelve month low of $6.55 and a twelve month high of $230.70. The company has a quick ratio of 2.07, a current ratio of 2.63 and a debt-to-equity ratio of 6.57. The stock’s 50 day moving average is $10.63 and its 200-day moving average is $17.72. The firm has a market capitalization of $112.96 million, a PE ratio of -0.12 and a beta of 2.85.

About Beyond Meat

Beyond Meat, Inc develops, manufactures and markets plant-based meat products designed to replicate the taste, texture and nutritional characteristics of animal-based meat. Its product portfolio has included plant-based burgers, ground meat, sausages, meatballs, chicken-style products and other alternatives made primarily from ingredients such as peas, soy, rice and other plant proteins.

The company sells its products through grocery and other retail outlets, restaurants, foodservice operators and online channels.