Beyond Meat (NASDAQ:BYND) Stock Falls 0.4% – Time to Sell?

Beyond Meat, Inc. (NASDAQ:BYND – Get Free Report) shares were down 0.4% on Friday. The company traded as low as $7.41 and last traded at $7.70. Approximately 785,487 shares traded hands during trading, a decline of 40% from the average session volume of 1,312,420 shares. The stock had previously closed at $7.73.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BYND. Wall Street Zen upgraded Beyond Meat from a “strong sell” rating to a “sell” rating in a research report on Sunday, September 13th. Barclays reissued an “underweight” rating and set a $10.00 price objective (up from $0.50) on shares of Beyond Meat in a research note on Monday, August 17th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Beyond Meat in a report on Friday, October 2nd. Three analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, Beyond Meat presently has a consensus rating of “Strong Sell” and an average target price of $23.50.

View Our Latest Analysis on BYND

Beyond Meat Trading Down 0.4%

The company has a market cap of $132.36 million, a price-to-earnings ratio of -0.14 and a beta of 2.85. The company has a debt-to-equity ratio of 6.57, a quick ratio of 2.07 and a current ratio of 2.63. The firm has a fifty day moving average price of $11.86 and a 200 day moving average price of $18.29.

Institutional Trading of Beyond Meat

Large investors have recently added to or reduced their stakes in the company. Evolve Private Wealth LLC acquired a new position in shares of Beyond Meat during the 1st quarter worth about $25,000. State of Wyoming acquired a new stake in Beyond Meat in the 1st quarter valued at about $27,000. Chicago Partners Investment Group LLC acquired a new stake in Beyond Meat in the 1st quarter valued at about $29,000. Two Sigma Securities LLC grew its holdings in Beyond Meat by 64.9% during the second quarter. Two Sigma Securities LLC now owns 51,002 shares of the company’s stock worth $38,000 after purchasing an additional 20,070 shares during the period. Finally, Perigon Wealth Management LLC bought a new position in Beyond Meat during the second quarter worth about $51,000. Institutional investors and hedge funds own 52.48% of the company’s stock.

Beyond Meat Company Profile

(Get Free Report)

Beyond Meat, Inc develops, manufactures and markets plant-based meat products designed to replicate the taste, texture and nutritional characteristics of animal-based meat. Its product portfolio has included plant-based burgers, ground meat, sausages, meatballs, chicken-style products and other alternatives made primarily from ingredients such as peas, soy, rice and other plant proteins.

The company sells its products through grocery and other retail outlets, restaurants, foodservice operators and online channels.

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