Analysts Set Beyond Meat, Inc. (NASDAQ:BYND) Price Target at $5.06

Shares of Beyond Meat, Inc. (NASDAQ:BYND) have earned a consensus rating of “Strong Sell” from the nine analysts that are presently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $5.06.

Several equities research analysts have recently weighed in on the company. Mizuho decreased their target price on Beyond Meat from $6.00 to $5.00 and set an “underperform” rating for the company in a research report on Monday, August 26th. BMO Capital Markets lowered their price objective on shares of Beyond Meat from $9.00 to $6.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th.

Beyond Meat Stock Performance

Beyond Meat stock opened at $6.30 on Friday. Beyond Meat has a 1 year low of $5.13 and a 1 year high of $12.12. The firm has a 50 day moving average price of $6.19 and a 200 day moving average price of $6.92. The company has a market cap of $409.75 million, a price-to-earnings ratio of -1.22 and a beta of 2.25.

Beyond Meat (NASDAQ:BYND) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.02). The business had revenue of $93.19 million during the quarter, compared to analysts’ expectations of $87.81 million. The company’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.83) earnings per share. Sell-side analysts predict that Beyond Meat will post -2.12 EPS for the current year.

Institutional Trading of Beyond Meat

Several hedge funds have recently made changes to their positions in the stock. Banque Cantonale Vaudoise lifted its position in Beyond Meat by 117.4% in the 1st quarter. Banque Cantonale Vaudoise now owns 3,220 shares of the company’s stock valued at $26,000 after purchasing an additional 1,739 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Beyond Meat during the fourth quarter worth approximately $48,000. Canada Pension Plan Investment Board acquired a new position in shares of Beyond Meat during the second quarter worth approximately $41,000. Scarborough Advisors LLC bought a new position in Beyond Meat in the 4th quarter worth approximately $62,000. Finally, ProShare Advisors LLC acquired a new stake in Beyond Meat in the 1st quarter valued at approximately $88,000. Institutional investors own 52.48% of the company’s stock.

About Beyond Meat

Beyond Meat, Inc, a plant-based meat company, develops, manufactures, markets, and sells plant-based meat products in the United States and internationally. The company sells a range of plant-based meat products across the platforms of beef, pork, and poultry. It sells its products through grocery, mass merchandiser, club stores, and natural retailer channels, as well as various food-away-from-home channels, including restaurants, foodservice outlets, and schools.