Beyond Meat (NASDAQ:BYND) Stock Gets Price Target Trim from Barclays

Beyond Meat (NASDAQ:BYND – Get Free Report) had its target price lowered by investment analysts at Barclays from $10.00 to $5.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “underweight” rating on the stock. Barclays‘s target price would suggest a potential downside of 14.98% from the stock’s current price.

A number of other equities analysts also recently commented on BYND. Weiss Ratings restated a “sell (d)” rating on shares of Beyond Meat in a research note on Friday, October 2nd. Wall Street Zen upgraded Beyond Meat from a “strong sell” rating to a “sell” rating in a report on Sunday, September 13th. Two equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Strong Sell” and an average target price of $21.67.

Get Our Latest Research Report on Beyond Meat

Beyond Meat Trading Down 17.7%

BYND stock traded down $1.27 during midday trading on Thursday, reaching $5.88. The company’s stock had a trading volume of 1,544,274 shares, compared to its average volume of 1,463,697. Beyond Meat has a 1 year low of $5.81 and a 1 year high of $46.80. The firm has a market capitalization of $101.09 million, a price-to-earnings ratio of -0.11 and a beta of 2.93. The stock has a fifty day simple moving average of $9.16 and a two-hundred day simple moving average of $18.39. The company has a debt-to-equity ratio of 6.57, a quick ratio of 2.07 and a current ratio of 2.63.

Beyond Meat (NASDAQ:BYND – Get Free Report) last issued its earnings results on Wednesday, November 4th. The company reported ($2.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.97) by ($0.24). The company had revenue of $64.53 million for the quarter, compared to analysts’ expectations of $62.00 million. Beyond Meat had a net margin of 75.40% and a negative return on equity of 100.55%. On average, equities research analysts predict that Beyond Meat will post -13.81 EPS for the current year.

Institutional Investors Weigh In On Beyond Meat

Several hedge funds have recently modified their holdings of BYND. State of Wyoming bought a new position in shares of Beyond Meat during the first quarter valued at approximately $27,000. Chicago Partners Investment Group LLC purchased a new position in Beyond Meat during the first quarter valued at approximately $29,000. Two Sigma Securities LLC raised its stake in Beyond Meat by 64.9% in the second quarter. Two Sigma Securities LLC now owns 51,002 shares of the company’s stock worth $38,000 after buying an additional 20,070 shares in the last quarter. Perigon Wealth Management LLC bought a new position in Beyond Meat in the second quarter worth approximately $51,000. Finally, One68 Global Capital LLC purchased a new stake in Beyond Meat during the second quarter worth $60,000. Hedge funds and other institutional investors own 52.48% of the company’s stock.

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About Beyond Meat

(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 beef, chicken and sausage alternatives, such as burgers, ground meat, breakfast sausage and breaded chicken products.

The company sells its products through grocery and retail outlets, restaurants, foodservice distributors and other commercial channels. Beyond Meat has served customers in the United States and international markets, with products available in various countries across North America, Europe and Asia-Pacific through retail and foodservice partnerships.

Founded in 2009 by Ethan Brown, Beyond Meat is headquartered in El Segundo, California.

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