Beyond Meat, Inc. (NASDAQ:BYND) Receives $23.50 Average Price Target from Brokerages

Shares of Beyond Meat, Inc. (NASDAQ:BYND) have earned an average recommendation of “Strong Sell” from the eight ratings firms that are presently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $23.50.

Several research analysts have issued reports on BYND shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Beyond Meat in a report on Wednesday, July 8th. Zacks Research raised Beyond Meat from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. Wall Street Zen upgraded Beyond Meat from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 12th. Finally, Barclays reaffirmed an “underweight” rating and set a $10.00 price target (up from $0.50) on shares of Beyond Meat in a research note on Monday, August 17th.

Beyond Meat Stock Performance

Shares of NASDAQ BYND opened at $13.86 on Monday. Beyond Meat has a 1-year low of $10.71 and a 1-year high of $230.70. The company has a current ratio of 2.63, a quick ratio of 2.07 and a debt-to-equity ratio of 6.57. The company has a 50-day moving average of $17.37 and a two-hundred day moving average of $20.93. The company has a market cap of $238.11 million, a PE ratio of -0.25 and a beta of 2.78.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC acquired a new stake in shares of Beyond Meat during the 1st quarter worth approximately $590,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Beyond Meat by 28.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 72,729 shares of the company’s stock valued at $222,000 after buying an additional 16,044 shares during the period. Envestnet Asset Management Inc. acquired a new position in Beyond Meat in the second quarter valued at approximately $70,000. Geode Capital Management LLC boosted its stake in Beyond Meat by 15.7% in the second quarter. Geode Capital Management LLC now owns 1,843,998 shares of the company’s stock valued at $6,437,000 after acquiring an additional 250,628 shares during the last quarter. Finally, Cetera Investment Advisers boosted its stake in Beyond Meat by 66.4% in the second quarter. Cetera Investment Advisers now owns 27,378 shares of the company’s stock valued at $96,000 after acquiring an additional 10,924 shares during the last quarter. 52.48% of the stock is currently owned by institutional investors and hedge funds.

About Beyond Meat

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.