Beyond Meat (NASDAQ:BYND) Stock Price Down 2.4% – Should You Sell?

Beyond Meat, Inc. (NASDAQ:BYND)’s stock price fell 2.4% on Friday . The company traded as low as $4.00 and last traded at $4.08. 5,940,722 shares changed hands during trading, an increase of 61% from the average session volume of 3,701,016 shares. The stock had previously closed at $4.18.

Beyond Meat Price Performance

The stock has a market cap of $266.03 million, a PE ratio of -0.98 and a beta of 2.26. The business has a 50 day moving average price of $4.28 and a two-hundred day moving average price of $5.62.

Beyond Meat (NASDAQ:BYND) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.03. The firm had revenue of $81.01 million for the quarter, compared to analysts’ expectations of $80.13 million. During the same period in the previous year, the company earned ($1.09) EPS. The company’s quarterly revenue was up 7.6% on a year-over-year basis. On average, sell-side analysts forecast that Beyond Meat, Inc. will post -2.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Beyond Meat news, insider Ethan Brown sold 313,000 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 1,703,288 shares in the company, valued at approximately $6,387,330. This trade represents a 15.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Beyond Meat

Several hedge funds have recently made changes to their positions in BYND. Ballentine Partners LLC purchased a new stake in Beyond Meat in the fourth quarter worth $39,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Beyond Meat by 16.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,901 shares of the company’s stock worth $257,000 after purchasing an additional 5,419 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Beyond Meat by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 522,894 shares of the company’s stock valued at $3,545,000 after buying an additional 7,332 shares during the period. Intech Investment Management LLC bought a new position in Beyond Meat in the third quarter worth about $128,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in Beyond Meat by 42.7% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 625,396 shares of the company’s stock worth $4,240,000 after buying an additional 186,996 shares during the period. 52.48% of the stock is owned by hedge funds and other institutional investors.

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.