Beyond Meat, Inc. (NASDAQ:BYND – Get Free Report) has been assigned a consensus recommendation of “Strong Sell” from the nine analysts that are covering the company, Marketbeat Ratings reports. Seven research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $0.8250.
Several research firms recently weighed in on BYND. Zacks Research lowered Beyond Meat from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 7th. 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. Finally, 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.
Read Our Latest Analysis on Beyond Meat
Beyond Meat Stock Performance
Beyond Meat (NASDAQ:BYND – Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.02. The company had revenue of $58.21 million for the quarter, compared to analyst estimates of $58.02 million. Beyond Meat had a negative return on equity of 54.39% and a net margin of 54.95%. On average, research analysts predict that Beyond Meat will post -0.35 earnings per share for the current fiscal year.
Insider Activity
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. Also, insider Teri L. Witteman sold 29,978 shares of the stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $1.00, for a total value of $29,978.00. Following the completion of the transaction, the insider owned 4,178,194 shares of the company’s stock, valued at $4,178,194. This represents a 0.71% decrease in their ownership of the stock. 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.
Hedge Funds Weigh In On Beyond Meat
Several large investors have recently bought and sold shares of the company. State of Wyoming bought a new position in Beyond Meat in the first quarter valued at about $27,000. Bank of New York Mellon Corp raised its position in Beyond Meat by 7.5% in the first quarter. Bank of New York Mellon Corp now owns 1,012,988 shares of the company’s stock valued at $711,000 after purchasing an additional 70,513 shares during the last quarter. Chicago Partners Investment Group LLC bought a new position in Beyond Meat in the first quarter valued at about $29,000. Ascentis Independent Advisors raised its position in Beyond Meat by 410.2% in the first quarter. Ascentis Independent Advisors now owns 102,043 shares of the company’s stock valued at $72,000 after purchasing an additional 82,043 shares during the last quarter. Finally, Krilogy Financial LLC bought a new position in Beyond Meat in the first quarter valued at about $56,000. 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.
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