Beyond Meat, Inc. (NASDAQ:BYND) Given Consensus Recommendation of “Strong Sell” by Brokerages

Shares of Beyond Meat, Inc. (NASDAQ:BYND) have earned a consensus rating of “Strong Sell” from the nine research firms that are currently covering the firm, MarketBeat Ratings 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 target price among analysts that have issued a report on the stock in the last year is $1.70.

A number of equities research analysts recently commented on BYND shares. Mizuho dropped their price objective on shares of Beyond Meat from $1.50 to $1.00 and set an “underperform” rating on the stock in a report on Thursday, November 13th. JPMorgan Chase & Co. initiated coverage on Beyond Meat in a report on Wednesday, August 20th. They set an “underweight” rating for the company. TD Cowen cut their price target on Beyond Meat from $2.00 to $0.80 and set a “sell” rating on the stock in a report on Tuesday, October 14th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Beyond Meat in a research report on Wednesday, October 8th. Finally, Cowen reissued a “sell” rating on shares of Beyond Meat in a research report on Tuesday, October 14th.

Institutional Trading of Beyond Meat

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Banco Santander S.A. bought a new stake in shares of Beyond Meat in the third quarter worth $25,000. Savant Capital LLC bought a new position in Beyond Meat in the third quarter valued at $28,000. Russell Investments Group Ltd. increased its stake in Beyond Meat by 400.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 14,786 shares of the company’s stock valued at $28,000 after buying an additional 11,830 shares during the last quarter. Pitcairn Co. bought a new stake in Beyond Meat during the 2nd quarter worth about $37,000. Finally, Chiron Capital Management LLC bought a new stake in Beyond Meat during the 1st quarter worth about $38,000. 52.48% of the stock is currently owned by institutional investors and hedge funds.

Beyond Meat Price Performance

NASDAQ BYND opened at $1.10 on Wednesday. Beyond Meat has a one year low of $0.50 and a one year high of $7.69. The firm has a market cap of $498.93 million, a P/E ratio of -0.34 and a beta of 2.51. The stock’s 50-day moving average is $1.37 and its 200-day moving average is $2.43.

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

Beyond Meat Company Profile

Beyond Meat, Inc, a plant-based meat company, develops, manufactures, markets, and sells plant-based meat products in the United States and internationally. The company sells a range of plant-based meat products across the platforms of beef, pork, and poultry. It sells its products through grocery, mass merchandiser, club stores, and natural retailer channels, as well as various food-away-from-home channels, including restaurants, foodservice outlets, and schools.