Shares of Beyond Meat, Inc. (NASDAQ:BYND – Get Free Report) have received a consensus rating of “Strong Sell” from the nine brokerages that are currently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $0.8250.
A number of analysts have recently commented on BYND shares. BMO Capital Markets cut their price objective on shares of Beyond Meat from $4.00 to $1.00 and set a “market perform” rating on the stock in a research report on Monday, April 6th. Barclays cut their price objective on shares of Beyond Meat from $1.00 to $0.50 and set an “underweight” rating on the stock in a research report on Thursday, April 2nd. Finally, Zacks Research raised shares of Beyond Meat from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st.
Read Our Latest Stock Report on BYND
Beyond Meat Stock Down 8.6%
Beyond Meat (NASDAQ:BYND – Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The business had revenue of $58.21 million for the quarter, compared to analyst estimates of $58.02 million. Beyond Meat had a net margin of 54.95% and a negative return on equity of 54.39%. On average, equities analysts predict that Beyond Meat will post -0.35 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, insider Teri L. Witteman sold 29,978 shares of the business’s stock in a transaction on Monday, April 20th. The shares were sold at an average price of $1.00, for a total transaction of $29,978.00. Following the transaction, the insider directly owned 4,178,194 shares in the company, valued at approximately $4,178,194. The trade was a 0.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Lubi Kutua sold 419,042 shares of the business’s stock in a transaction on Monday, April 13th. The stock was sold at an average price of $0.60, for a total transaction of $251,425.20. Following the transaction, the chief financial officer owned 5,749,967 shares in the company, valued at approximately $3,449,980.20. The trade was a 6.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.90% of the company’s stock.
Hedge Funds Weigh In On Beyond Meat
A number of institutional investors have recently added to or reduced their stakes in BYND. UBS Group AG increased its holdings in Beyond Meat by 674.8% during the fourth 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 increased its holdings in Beyond Meat by 445.0% during the fourth quarter. Geode Capital Management LLC now owns 9,927,157 shares of the company’s stock worth $8,142,000 after buying an additional 8,105,718 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings 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 worth $2,774,000 after buying an additional 2,816,778 shares during the last quarter. Atom Investors LP increased its holdings in Beyond Meat by 669.3% during the fourth quarter. Atom Investors LP now owns 655,779 shares of the company’s stock worth $538,000 after buying an additional 570,536 shares during the last quarter. Finally, Virtu Financial LLC increased its holdings in Beyond Meat by 670.6% during the fourth quarter. Virtu Financial LLC now owns 608,487 shares of the company’s stock worth $499,000 after buying an additional 529,526 shares during the last quarter. 52.48% of the stock is currently owned by institutional investors and hedge funds.
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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