Beyond Meat (NASDAQ:BYND) Shares Gap Down – Should You Sell?

Beyond Meat, Inc. (NASDAQ:BYND)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $1.6550, but opened at $1.5050. Beyond Meat shares last traded at $1.3840, with a volume of 56,962,789 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Cowen reaffirmed a “sell” rating on shares of Beyond Meat in a research 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. BTIG Research reaffirmed a “neutral” rating on shares of Beyond Meat in a research report on Friday, October 24th. Mizuho cut their target price on shares of Beyond Meat from $2.00 to $1.50 and set an “underperform” rating for the company in a research report on Friday, October 24th. Finally, TD Cowen cut their target price on shares of Beyond Meat from $2.00 to $0.80 and set a “sell” rating for the company in a research report on Tuesday, October 14th. Two equities research analysts have rated the stock with a Hold rating and seven have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Strong Sell” and an average price target of $2.08.

Beyond Meat Trading Down 12.1%

The business’s 50 day moving average is $2.27 and its two-hundred day moving average is $2.77. The company has a market cap of $578.52 million, a PE ratio of -0.67 and a beta of 2.33.

Beyond Meat (NASDAQ:BYND) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.06). The business had revenue of $74.96 million for the quarter, compared to analyst estimates of $85.71 million. The firm’s quarterly revenue was down 19.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.53) EPS. As a group, equities research analysts predict that Beyond Meat, Inc. will post -2.1 EPS for the current fiscal year.

Institutional Trading of Beyond Meat

Several hedge funds have recently bought and sold shares of BYND. Apollon Wealth Management LLC purchased a new stake in Beyond Meat in the 1st quarter worth $31,000. Pitcairn Co. purchased a new stake in Beyond Meat in the 2nd quarter worth $37,000. Chiron Capital Management LLC purchased a new stake in Beyond Meat in the 1st quarter worth $38,000. Regatta Capital Group LLC purchased a new stake in Beyond Meat in the 3rd quarter worth $38,000. Finally, Rathbones Group PLC purchased a new stake in Beyond Meat in the 2nd quarter worth $40,000. Hedge funds and other institutional investors own 52.48% of the company’s stock.

About Beyond Meat

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.