Beyond Meat (NASDAQ:BYND) Shares Down 2.4% – What’s Next?

Beyond Meat, Inc. (NASDAQ:BYND) shares dropped 2.4% on Friday . The company traded as low as $4.00 and last traded at $4.08. Approximately 5,940,722 shares were traded during mid-day trading, an increase of 61% from the average daily volume of 3,701,016 shares. The stock had previously closed at $4.18.

Beyond Meat Stock Performance

The firm has a market cap of $266.03 million, a price-to-earnings ratio of -0.98 and a beta of 2.26. The firm has a fifty day simple moving average of $4.28 and a 200-day simple moving average of $5.62.

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

Insider Transactions at Beyond Meat

In related news, insider Ethan Brown sold 313,000 shares of Beyond Meat stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $3.75, for a total transaction of $1,173,750.00. Following the completion of the sale, the insider now directly owns 1,703,288 shares of the company’s stock, valued at approximately $6,387,330. This trade represents a 15.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BYND. Ballentine Partners LLC acquired a new position in shares of Beyond Meat in the fourth quarter valued at about $39,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Beyond Meat by 16.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,901 shares of the company’s stock valued at $257,000 after purchasing an additional 5,419 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Beyond Meat by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 522,894 shares of the company’s stock valued at $3,545,000 after purchasing an additional 7,332 shares during the period. Intech Investment Management LLC acquired a new position in shares of Beyond Meat during the 3rd quarter worth approximately $128,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in shares of Beyond Meat by 42.7% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 625,396 shares of the company’s stock worth $4,240,000 after purchasing an additional 186,996 shares during the period. 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.