Beyond Meat, Inc. (NASDAQ:BYND – Get Free Report) saw some unusual options trading on Tuesday. Investors purchased 120,195 call options on the company. This represents an increase of approximately 47% compared to the average volume of 81,521 call options.
Analyst Upgrades and Downgrades
Several research firms have weighed in on BYND. Wall Street Zen upgraded Beyond Meat from a “strong sell” rating to a “sell” rating in a report on Sunday, July 12th. Zacks Research raised Beyond Meat from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Beyond Meat in a report on Wednesday, July 8th. Three investment analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Strong Sell” and a consensus target price of $0.82.
Get Our Latest Analysis on Beyond Meat
Beyond Meat Stock Down 19.7%
Beyond Meat (NASDAQ:BYND – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). Beyond Meat had a net margin of 75.40% and a negative return on equity of 100.55%. The company had revenue of $68.83 million for the quarter, compared to the consensus estimate of $62.43 million. Sell-side analysts anticipate that Beyond Meat will post -0.35 EPS for the current fiscal year.
Hedge Funds Weigh In On Beyond Meat
A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. bought a new position in Beyond Meat during the second quarter valued at approximately $6,753,000. UBS Group AG boosted its stake in shares of Beyond Meat by 674.8% in the 4th quarter. UBS Group AG now owns 9,788,528 shares of the company’s stock worth $8,027,000 after buying an additional 8,525,183 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Beyond Meat by 445.0% in the fourth quarter. Geode Capital Management LLC now owns 9,927,157 shares of the company’s stock worth $8,142,000 after acquiring an additional 8,105,718 shares during the period. Charles Schwab Investment Management Inc. increased its position in Beyond Meat by 497.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,383,511 shares of the company’s stock valued at $2,774,000 after acquiring an additional 2,816,778 shares during the last quarter. Finally, Atom Investors LP increased its position in Beyond Meat by 669.3% during the fourth quarter. Atom Investors LP now owns 655,779 shares of the company’s stock valued at $538,000 after acquiring an additional 570,536 shares during the last quarter. Hedge funds and other institutional investors own 52.48% of the company’s stock.
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.
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