Investors Purchase High Volume of Beyond Meat Call Options (NASDAQ:BYND)

Beyond Meat, Inc. (NASDAQ:BYND) saw unusually large options trading on Monday. Traders purchased 46,149 call options on the stock. This represents an increase of 25% compared to the average volume of 36,783 call options.

Beyond Meat Price Performance

Shares of BYND opened at $6.51 on Wednesday. The company has a market cap of $422.43 million, a P/E ratio of -1.26 and a beta of 2.43. The stock has a fifty day moving average price of $7.09 and a 200 day moving average price of $7.64. Beyond Meat has a 12 month low of $5.58 and a 12 month high of $19.25.

Beyond Meat (NASDAQ:BYND) last issued 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 company had revenue of $75.60 million during the quarter, compared to analysts’ expectations of $75.24 million. Beyond Meat’s revenue was down 18.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.92) EPS. As a group, research analysts anticipate that Beyond Meat will post -2.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

BYND has been the topic of several analyst reports. BMO Capital Markets dropped their price objective on Beyond Meat from $10.00 to $9.00 and set a “market perform” rating on the stock in a report on Thursday, May 9th. Argus upgraded Beyond Meat from a “sell” rating to a “hold” rating in a report on Thursday, February 29th. The Goldman Sachs Group dropped their price objective on Beyond Meat from $4.00 to $3.50 and set a “sell” rating on the stock in a report on Thursday, May 9th. TD Cowen dropped their price objective on Beyond Meat from $10.00 to $6.00 and set a “sell” rating on the stock in a report on Wednesday, April 17th. Finally, Mizuho lowered their price target on Beyond Meat from $7.00 to $6.00 and set an “underperform” rating for the company in a report on Monday, April 22nd. Six equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $5.56.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise grew its stake in Beyond Meat by 117.4% during the 1st quarter. Banque Cantonale Vaudoise now owns 3,220 shares of the company’s stock worth $26,000 after buying an additional 1,739 shares during the last quarter. Quest Partners LLC acquired a new position in Beyond Meat during the 4th quarter worth $48,000. Scarborough Advisors LLC acquired a new position in Beyond Meat during the 4th quarter worth $62,000. ProShare Advisors LLC acquired a new position in Beyond Meat during the 1st quarter worth $88,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in Beyond Meat during the 4th quarter worth $93,000. 52.48% of the stock is currently owned by 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.