Beyond Meat (NASDAQ:BYND) Shares Down 2.8%

Beyond Meat, Inc. (NASDAQ:BYND) shares dropped 2.8% during trading on Monday . The company traded as low as $7.94 and last traded at $8.00. Approximately 1,048,398 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 3,115,028 shares. The stock had previously closed at $8.23.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Argus upgraded Beyond Meat from a “sell” rating to a “hold” rating in a report on Thursday, February 29th. Mizuho decreased their target price on Beyond Meat from $7.00 to $6.00 and set an “underperform” rating for the company in a report on Monday, April 22nd. BMO Capital Markets lifted their target price on Beyond Meat from $7.00 to $10.00 and gave the company a “market perform” rating in a report on Wednesday, February 28th. Finally, TD Cowen decreased their price target on Beyond Meat from $10.00 to $6.00 and set a “sell” rating for the company in a report on Wednesday, April 17th. Five investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Based on data from MarketBeat.com, Beyond Meat currently has an average rating of “Reduce” and an average target price of $5.83.

Beyond Meat Stock Down 0.8 %

The firm has a market capitalization of $531.02 million, a price-to-earnings ratio of -1.57 and a beta of 2.42. The company has a 50-day moving average price of $7.64 and a 200-day moving average price of $7.58.

Beyond Meat (NASDAQ:BYND) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.05). The firm had revenue of $75.60 million during the quarter, compared to the consensus estimate of $75.24 million. During the same period in the previous year, the business earned ($0.92) EPS. The business’s revenue was down 18.0% on a year-over-year basis. As a group, analysts forecast that Beyond Meat, Inc. will post -2.29 earnings per share for the current year.

Institutional Investors Weigh In On Beyond Meat

Several hedge funds have recently made changes to their positions in BYND. Compagnie Lombard Odier SCmA boosted its stake in Beyond Meat by 16.3% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 25,000 shares of the company’s stock valued at $222,000 after acquiring an additional 3,500 shares during the last quarter. Gotham Asset Management LLC raised its holdings in shares of Beyond Meat by 5.6% during the third quarter. Gotham Asset Management LLC now owns 31,165 shares of the company’s stock worth $300,000 after acquiring an additional 1,646 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Beyond Meat by 6.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 483,732 shares of the company’s stock worth $4,654,000 after acquiring an additional 30,998 shares during the period. Sigma Planning Corp acquired a new stake in Beyond Meat in the 3rd quarter valued at $98,000. Finally, Olympiad Research LP acquired a new position in shares of Beyond Meat during the 3rd quarter worth about $280,000. Institutional investors own 52.48% of the company’s stock.

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.