Beyond Meat (NASDAQ:BYND) Shares Gap Down – What’s Next?

Beyond Meat, Inc. (NASDAQ:BYND) shares gapped down before the market opened on Wednesday . The stock had previously closed at $1.29, but opened at $1.23. Beyond Meat shares last traded at $1.2250, with a volume of 22,438,034 shares traded.

Analyst Upgrades and Downgrades

BYND has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Beyond Meat in a research report on Wednesday, October 8th. TD Cowen reduced their price objective on Beyond Meat from $2.00 to $0.80 and set a “sell” rating on the stock in a research note on Tuesday, October 14th. Cowen reiterated a “sell” rating on shares of Beyond Meat in a research report on Tuesday, October 14th. JPMorgan Chase & Co. began coverage on Beyond Meat in a research note on Wednesday, August 20th. They set an “underweight” rating for the company. Finally, BMO Capital Markets reduced their price target on shares of Beyond Meat from $5.00 to $4.00 and set a “market perform” rating on the stock in a research note on Thursday, August 14th. Two investment analysts have rated the stock with a Hold rating and seven have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Strong Sell” and a consensus price target of $1.70.

Beyond Meat Stock Down 0.8%

The stock has a market capitalization of $562.43 million, a price-to-earnings ratio of -0.39 and a beta of 2.51. The stock has a 50 day moving average price of $1.55 and a 200 day moving average price of $2.53.

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 analysts’ consensus estimates of ($0.39) by ($0.08). The company had revenue of $70.22 million for the quarter, compared to analyst estimates of $68.82 million. Sell-side analysts forecast that Beyond Meat, Inc. will post -2.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Vontobel Holding Ltd. increased its stake in shares of Beyond Meat by 20.2% in the second quarter. Vontobel Holding Ltd. now owns 2,113,869 shares of the company’s stock valued at $7,377,000 after buying an additional 354,965 shares during the period. Nuveen LLC acquired a new position in shares of Beyond Meat in the first quarter worth approximately $555,000. Ieq Capital LLC bought a new stake in Beyond Meat in the first quarter valued at approximately $67,000. Charles Schwab Investment Management Inc. boosted its holdings in Beyond Meat by 8.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 573,596 shares of the company’s stock valued at $1,749,000 after acquiring an additional 46,540 shares during the last quarter. Finally, Invesco Ltd. increased its position in Beyond Meat by 144.1% during the 1st quarter. Invesco Ltd. now owns 71,108 shares of the company’s stock valued at $217,000 after purchasing an additional 41,974 shares during the period. 52.48% of the stock is owned by institutional investors.

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.