Beyond Meat (NASDAQ:BYND) CFO Sells $251,425.20 in Stock

Beyond Meat, Inc. (NASDAQ:BYND) CFO Lubi Kutua sold 419,042 shares of the business’s stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $0.60, for a total value of $251,425.20. Following the completion of the sale, the chief financial officer owned 5,749,967 shares of the company’s stock, valued at approximately $3,449,980.20. This trade represents a 6.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Beyond Meat Stock Performance

Shares of BYND stock traded up $0.03 during trading on Wednesday, hitting $0.75. The company had a trading volume of 37,569,437 shares, compared to its average volume of 36,997,328. The firm has a market capitalization of $348.18 million, a P/E ratio of -0.26 and a beta of 2.67. The stock’s 50-day moving average price is $0.71 and its 200 day moving average price is $1.07. Beyond Meat, Inc. has a one year low of $0.50 and a one year high of $7.69.

Beyond Meat (NASDAQ:BYND) last issued its quarterly earnings results on Tuesday, March 31st. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.17). The company had revenue of $61.59 million during the quarter, compared to the consensus estimate of $63.00 million. Beyond Meat had a net margin of 43.98% and a negative return on equity of 37.44%. On average, research analysts anticipate that Beyond Meat, Inc. will post -2.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on BYND shares. Zacks Research cut Beyond Meat from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 7th. BMO Capital Markets cut their target price on Beyond Meat from $4.00 to $1.00 and set a “market perform” rating for the company in a research note on Monday, April 6th. Barclays cut their target price on Beyond Meat from $1.00 to $0.50 and set an “underweight” rating for the company in a research note on Thursday, April 2nd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Beyond Meat in a research note on Wednesday, January 21st. Two analysts have rated the stock with a Hold rating and seven have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Strong Sell” and an average price target of $0.83.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Hsbc Holdings PLC increased its holdings in shares of Beyond Meat by 167.9% during the fourth quarter. Hsbc Holdings PLC now owns 86,980 shares of the company’s stock worth $72,000 after buying an additional 54,508 shares in the last quarter. Virtu Financial LLC increased its holdings in shares of Beyond Meat by 670.6% during the fourth quarter. Virtu Financial LLC now owns 608,487 shares of the company’s stock worth $499,000 after buying an additional 529,526 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Beyond Meat by 109.8% during the fourth quarter. Invesco Ltd. now owns 411,729 shares of the company’s stock worth $338,000 after buying an additional 215,492 shares in the last quarter. Engineers Gate Manager LP increased its holdings in shares of Beyond Meat by 1,138.9% during the fourth quarter. Engineers Gate Manager LP now owns 336,549 shares of the company’s stock worth $276,000 after buying an additional 309,384 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Beyond Meat by 776.8% during the fourth quarter. AQR Capital Management LLC now owns 484,596 shares of the company’s stock worth $397,000 after buying an additional 429,329 shares in the last quarter. 52.48% of the stock is currently owned by institutional investors and hedge funds.

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.