Beyond Meat (NASDAQ:BYND) Shares Gap Up – Still a Buy?

Beyond Meat, Inc. (NASDAQ:BYND) shares gapped up before the market opened on Tuesday . The stock had previously closed at $1.16, but opened at $1.38. Beyond Meat shares last traded at $1.2450, with a volume of 158,249,801 shares traded.

Wall Street Analyst Weigh In

BYND has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Beyond Meat in a research note on Wednesday, January 21st. Barclays reduced their price objective on Beyond Meat from $1.00 to $0.50 and set an “underweight” rating on the stock in a research note on Thursday, April 2nd. BMO Capital Markets reduced their price objective on Beyond Meat from $4.00 to $1.00 and set a “market perform” rating on the stock in a research note on Monday, April 6th. Finally, Zacks Research lowered Beyond Meat from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 7th. Two equities research analysts have rated the stock with a Hold rating and seven have assigned a Sell rating to the company. Based on data from MarketBeat.com, Beyond Meat currently has an average rating of “Strong Sell” and a consensus price target of $0.83.

Beyond Meat Price Performance

The stock has a market capitalization of $530.78 million, a P/E ratio of -0.40 and a beta of 2.67. The firm has a 50-day simple moving average of $0.73 and a 200 day simple moving average of $1.04.

Beyond Meat (NASDAQ:BYND) last posted its earnings results on Tuesday, March 31st. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.17). The firm had revenue of $61.59 million during the quarter, compared to the consensus estimate of $63.00 million. Beyond Meat had a net margin of 43.98% and a negative return on equity of 37.44%. Sell-side analysts anticipate that Beyond Meat, Inc. will post -0.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Beyond Meat news, CFO Lubi Kutua sold 419,042 shares of the stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $0.60, for a total value of $251,425.20. Following the completion of the transaction, the chief financial officer directly owned 5,749,967 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Beyond Meat

Several large investors have recently bought and sold shares of BYND. Banco Santander S.A. bought a new position in Beyond Meat in the third quarter valued at about $25,000. Evolve Private Wealth LLC bought a new position in Beyond Meat in the first quarter valued at about $25,000. Xponance LLC bought a new position in shares of Beyond Meat during the fourth quarter worth about $25,000. Savant Capital LLC acquired a new position in shares of Beyond Meat in the third quarter worth approximately $28,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of Beyond Meat by 400.2% in the third quarter. Russell Investments Group Ltd. now owns 14,786 shares of the company’s stock worth $28,000 after acquiring an additional 11,830 shares during the period. 52.48% of the stock is currently owned by institutional investors.

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.