Shares of Beyond Meat, Inc. (NASDAQ:BYND – Get Rating) rose 1.8% on Friday . The company traded as high as $15.85 and last traded at $15.52. Approximately 122,788 shares traded hands during trading, a decline of 97% from the average daily volume of 3,642,327 shares. The stock had previously closed at $15.25.
Wall Street Analysts Forecast Growth
BYND has been the topic of a number of analyst reports. Barclays lifted their price objective on Beyond Meat from $25.00 to $30.00 and gave the company an "equal weight" rating in a research report on Monday, August 8th. Canaccord Genuity Group lowered their price objective on Beyond Meat from $30.00 to $22.00 in a research report on Thursday. Mizuho lifted their price objective on Beyond Meat from $21.00 to $27.00 and gave the company a "neutral" rating in a research report on Monday, August 8th. UBS Group boosted their price target on Beyond Meat from $20.00 to $30.00 and gave the stock a "neutral" rating in a report on Friday, August 5th. Finally, Bank of America lowered their price target on Beyond Meat from $20.00 to $10.00 and set an "underperform" rating on the stock in a report on Friday, August 5th. Six equities research analysts have rated the stock with a sell rating and ten have given a hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $40.47.
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Beyond Meat Trading Up 2.9 %
The stock has a market cap of $998.98 million, a P/E ratio of -2.99 and a beta of 1.86. The company has a current ratio of 7.48, a quick ratio of 5.16 and a debt-to-equity ratio of 27.60. The company has a 50-day moving average price of $28.28 and a two-hundred day moving average price of $32.25.
Beyond Meat (NASDAQ:BYND – Get Rating) last released its earnings results on Thursday, August 4th. The company reported ($1.53) earnings per share for the quarter, missing the consensus estimate of ($1.22) by ($0.31). The company had revenue of $147.00 million for the quarter, compared to the consensus estimate of $149.08 million. Beyond Meat had a negative net
margin of 71.78% and a negative return on equity of 400.17%. The business's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.31) EPS. On average, research analysts expect that Beyond Meat, Inc. will post -5.26 EPS for the current fiscal year.
Insider Activity
In other news, insider Beth Moskowitz sold 773 shares of the business's stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $42.70, for a total transaction of $33,007.10. Following the transaction, the insider now owns 24,358 shares of the company's stock, valued at approximately $1,040,086.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 7.90% of the company's stock.
Hedge Funds Weigh In On Beyond Meat
Hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC grew its position in Beyond Meat by 110.3% in the 1st quarter. Parallel Advisors LLC now owns 614 shares of the company's stock valued at $30,000 after acquiring an additional 322 shares during the last quarter. Samalin Investment Counsel LLC grew its position in Beyond Meat by 1,657.1% in the 4th quarter. Samalin Investment Counsel LLC now owns 615 shares of the company's stock valued at $40,000 after acquiring an additional 580 shares during the last quarter. Psagot Value Holdings Ltd. Israel bought a new position in Beyond Meat in the 1st quarter valued at $52,000. Prospera Financial Services Inc bought a new position in Beyond Meat in the 1st quarter valued at $55,000. Finally, Westside Investment Management Inc. grew its position in Beyond Meat by 292.3% in the 1st quarter. Westside Investment Management Inc. now owns 1,275 shares of the company's stock valued at $29,983,000 after acquiring an additional 950 shares during the last quarter. Institutional investors own 60.98% of the company's stock.
About Beyond Meat
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Beyond Meat, Inc 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 store, convenience store and natural retailer channels, and direct-to-consumer, as well as various food-away-from-home channels, including restaurants, foodservice outlets, and schools.
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