Beyond Meat (NASDAQ:BYND) Trading Down 0.7% – Should You Sell?

Beyond Meat, Inc. (NASDAQ:BYND) shares were down 0.7% on Wednesday . The company traded as low as $0.7411 and last traded at $0.7450. 29,476,645 shares were traded during trading, a decline of 15% from the average session volume of 34,773,272 shares. The stock had previously closed at $0.75.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Zacks Research raised shares of Beyond Meat from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. BMO Capital Markets decreased their target price on Beyond Meat from $4.00 to $1.00 and set a “market perform” rating on the stock in a report on Monday, April 6th. Finally, Barclays lowered their target price on Beyond Meat from $1.00 to $0.50 and set an “underweight” rating on the stock in a research report on Thursday, April 2nd. Three analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat.com, Beyond Meat currently has a consensus rating of “Strong Sell” and an average target price of $0.82.

Beyond Meat Stock Performance

The stock has a market capitalization of $366.05 million, a P/E ratio of -0.32 and a beta of 2.75. The company’s 50-day moving average price is $0.78 and its 200 day moving average price is $0.80.

Beyond Meat (NASDAQ:BYND) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.02. Beyond Meat had a negative return on equity of 54.39% and a net margin of 54.95%.The business had revenue of $58.21 million for the quarter, compared to the consensus estimate of $58.02 million. Analysts predict that Beyond Meat, Inc. will post -0.35 earnings per share for the current year.

Insider Buying and Selling at Beyond Meat

In related news, CFO Lubi Kutua sold 419,042 shares of the firm’s stock in a transaction on Monday, April 13th. The shares were sold at an average price of $0.60, for a total transaction of $251,425.20. Following the completion of the transaction, the chief financial officer directly owned 5,749,967 shares of the company’s stock, valued at approximately $3,449,980.20. This trade represents a 6.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Teri L. Witteman sold 29,978 shares of the business’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $1.00, for a total transaction of $29,978.00. Following the completion of the sale, the insider owned 4,178,194 shares in the company, valued at approximately $4,178,194. The trade was a 0.71% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.90% of the company’s stock.

Institutional Trading of Beyond Meat

Several hedge funds have recently modified their holdings of the company. Essential Partners LLC purchased a new position in shares of Beyond Meat in the first quarter valued at $84,000. State of Wyoming purchased a new stake in shares of Beyond Meat in the first quarter valued at $27,000. Bank of New York Mellon Corp raised its position in Beyond Meat by 7.5% in the 1st quarter. Bank of New York Mellon Corp now owns 1,012,988 shares of the company’s stock worth $711,000 after purchasing an additional 70,513 shares during the period. Chicago Partners Investment Group LLC bought a new stake in shares of Beyond Meat during the 1st quarter worth approximately $29,000. Finally, Ascentis Independent Advisors lifted its position in shares of Beyond Meat by 410.2% during the first quarter. Ascentis Independent Advisors now owns 102,043 shares of the company’s stock worth $72,000 after purchasing an additional 82,043 shares during the last quarter. 52.48% of the stock is owned by hedge funds and other institutional investors.

Beyond Meat Company Profile

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.