Beyond Meat (NASDAQ:BYND) Shares Up 4.9%

Beyond Meat, Inc. (NASDAQ:BYND) shot up 4.9% on Tuesday . The stock traded as high as $8.35 and last traded at $8.32. 1,451,100 shares were traded during trading, a decline of 61% from the average session volume of 3,734,161 shares. The stock had previously closed at $7.93.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Argus raised Beyond Meat from a “sell” rating to a “hold” rating in a research note on Thursday, February 29th. Mizuho lifted their price objective on shares of Beyond Meat from $5.00 to $7.00 and gave the stock an “underperform” rating in a research note on Thursday, February 29th. Finally, BMO Capital Markets raised their target price on shares of Beyond Meat from $7.00 to $10.00 and gave the stock a “market perform” rating in a report on Wednesday, February 28th. Five investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $6.67.

Beyond Meat Stock Down 0.1 %

The company has a market cap of $535.55 million, a P/E ratio of -1.58 and a beta of 2.44. The firm’s 50 day moving average is $7.60 and its two-hundred day moving average is $8.01.

Beyond Meat (NASDAQ:BYND) last issued its earnings results on Tuesday, February 27th. The company reported ($2.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.82) by ($1.58). The business had revenue of $73.68 million during the quarter, compared to analyst estimates of $66.66 million. The business’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.05) EPS. As a group, research analysts forecast that Beyond Meat, Inc. will post -2.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BYND. Raymond James & Associates raised its stake in shares of Beyond Meat by 47.6% during the 1st quarter. Raymond James & Associates now owns 22,013 shares of the company’s stock worth $1,063,000 after purchasing an additional 7,094 shares during the period. US Bancorp DE grew its position in shares of Beyond Meat by 12.5% during the 1st quarter. US Bancorp DE now owns 5,137 shares of the company’s stock valued at $248,000 after acquiring an additional 571 shares during the period. MetLife Investment Management LLC purchased a new stake in shares of Beyond Meat during the 1st quarter worth approximately $164,000. Vontobel Holding Ltd. increased its stake in shares of Beyond Meat by 27.3% during the 1st quarter. Vontobel Holding Ltd. now owns 33,205 shares of the company’s stock worth $1,604,000 after purchasing an additional 7,111 shares during the last quarter. Finally, Blair William & Co. IL raised its holdings in shares of Beyond Meat by 14.7% in the 1st quarter. Blair William & Co. IL now owns 29,695 shares of the company’s stock worth $1,435,000 after purchasing an additional 3,796 shares during the period. 52.48% of the stock is currently owned by hedge funds and other institutional investors.

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.