Beyond Meat (NASDAQ:BYND) Stock Falls 0.4% – Here’s Why

Beyond Meat, Inc. (NASDAQ:BYND) dropped 0.4% during trading on Friday. The stock traded as low as $7.41 and last traded at $7.70. Approximately 785,487 shares were traded during trading, a decline of 40% from the average session volume of 1,312,420 shares. The stock had previously closed at $7.73.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BYND. Barclays restated an “underweight” rating and issued a $10.00 price target (up from $0.50) on shares of Beyond Meat in a research note on Monday, August 17th. Wall Street Zen raised shares of Beyond Meat from a “strong sell” rating to a “sell” rating in a research report on Sunday, September 13th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Beyond Meat in a research report on Friday, October 2nd. Three investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, Beyond Meat presently has an average rating of “Strong Sell” and an average price target of $23.50.

Beyond Meat Stock Down 0.4%

The stock has a 50-day moving average of $11.86 and a 200 day moving average of $18.29. The company has a debt-to-equity ratio of 6.57, a current ratio of 2.63 and a quick ratio of 2.07. The company has a market cap of $132.36 million, a P/E ratio of -0.14 and a beta of 2.85.

Institutional Trading of Beyond Meat

Institutional investors and hedge funds have recently made changes to their positions in the company. Evolve Private Wealth LLC acquired a new stake in shares of Beyond Meat during the 1st quarter worth approximately $25,000. State of Wyoming acquired a new position in Beyond Meat during the first quarter valued at approximately $27,000. Chicago Partners Investment Group LLC bought a new stake in Beyond Meat during the first quarter worth $29,000. Two Sigma Securities LLC lifted its stake in Beyond Meat by 64.9% during the second quarter. Two Sigma Securities LLC now owns 51,002 shares of the company’s stock worth $38,000 after purchasing an additional 20,070 shares during the last quarter. Finally, Perigon Wealth Management LLC acquired a new stake in shares of Beyond Meat in the 2nd quarter valued at $51,000. Institutional investors own 52.48% of the company’s stock.

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.