Barclays Cuts Beyond Meat (NASDAQ:BYND) Price Target to $3.00

Beyond Meat (NASDAQ:BYND) had its price target lowered by Barclays from $4.00 to $3.00 in a research note published on Thursday,Benzinga reports. Barclays currently has an underweight rating on the stock.

Beyond Meat Trading Down 0.6 %

BYND stock opened at $3.16 on Thursday. Beyond Meat has a twelve month low of $3.10 and a twelve month high of $11.70. The company has a market capitalization of $206.04 million, a P/E ratio of -0.76 and a beta of 2.31. The firm has a 50 day simple moving average of $3.86 and a 200-day simple moving average of $5.10.

Beyond Meat (NASDAQ:BYND) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.21). The company had revenue of $76.66 million during the quarter, compared to analysts’ expectations of $76.08 million. On average, research analysts predict that Beyond Meat will post -2.1 EPS for the current year.

Insider Buying and Selling at Beyond Meat

In other Beyond Meat news, insider Ethan Brown sold 313,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $3.75, for a total value of $1,173,750.00. Following the sale, the insider now directly owns 1,703,288 shares in the company, valued at approximately $6,387,330. This trade represents a 15.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 8.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BYND. Intech Investment Management LLC acquired a new position in shares of Beyond Meat during the third quarter valued at $128,000. Charles Schwab Investment Management Inc. grew its holdings in Beyond Meat by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 522,894 shares of the company’s stock worth $3,545,000 after acquiring an additional 7,332 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Beyond Meat by 16.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,901 shares of the company’s stock worth $257,000 after acquiring an additional 5,419 shares during the period. Ballentine Partners LLC acquired a new position in Beyond Meat during the fourth quarter worth about $39,000. Finally, Zweig DiMenna Associates LLC purchased a new position in Beyond Meat in the 4th quarter worth about $1,746,000. 52.48% of the stock is owned by institutional investors and hedge funds.

Beyond Meat Company Profile

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.