Brokerages Set Beyond Meat, Inc. (NASDAQ:BYND) PT at $5.06

Shares of Beyond Meat, Inc. (NASDAQ:BYND) have been assigned a consensus recommendation of “Strong Sell” from the nine ratings firms that are presently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $5.06.

Several equities analysts have recently issued reports on BYND shares. BMO Capital Markets lowered their price target on Beyond Meat from $9.00 to $6.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. Mizuho lowered their target price on Beyond Meat from $6.00 to $5.00 and set an “underperform” rating on the stock in a report on Monday, August 26th.

Hedge Funds Weigh In On Beyond Meat

Hedge funds have recently modified their holdings of the stock. Olympiad Research LP increased its position in shares of Beyond Meat by 5.1% in the fourth quarter. Olympiad Research LP now owns 30,592 shares of the company’s stock worth $272,000 after acquiring an additional 1,477 shares in the last quarter. Banque Cantonale Vaudoise grew its position 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 purchasing an additional 1,739 shares in the last quarter. Ensign Peak Advisors Inc raised its stake in Beyond Meat by 7.8% during the 2nd quarter. Ensign Peak Advisors Inc now owns 36,493 shares of the company’s stock valued at $245,000 after purchasing an additional 2,650 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Beyond Meat by 9.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 33,104 shares of the company’s stock valued at $275,000 after purchasing an additional 2,790 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Beyond Meat by 17.3% in the second quarter. The Manufacturers Life Insurance Company now owns 26,469 shares of the company’s stock worth $178,000 after buying an additional 3,902 shares during the period. 52.48% of the stock is currently owned by institutional investors and hedge funds.

Beyond Meat Stock Up 2.4 %

Shares of BYND opened at $6.30 on Friday. The firm has a market capitalization of $409.75 million, a PE ratio of -1.22 and a beta of 2.25. The firm has a 50-day moving average price of $6.19 and a 200 day moving average price of $6.92. Beyond Meat has a 52-week low of $5.13 and a 52-week high of $12.12.

Beyond Meat (NASDAQ:BYND) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.02). The firm had revenue of $93.19 million for the quarter, compared to analyst estimates of $87.81 million. During the same period in the previous year, the business earned ($0.83) EPS. Beyond Meat’s quarterly revenue was down 8.8% on a year-over-year basis. On average, equities analysts expect that Beyond Meat will post -2.12 EPS for the current year.

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.