Beyond Meat, Inc. (NASDAQ:BYND – Get Rating)’s stock price traded up 18.1% on Friday after UBS Group raised their price target on the stock from $20.00 to $30.00. UBS Group currently has a neutral rating on the stock. Beyond Meat traded as high as $37.70 and last traded at $37.08. 96,028 shares traded hands during trading, a decline of 96% from the average session volume of 2,624,184 shares. The stock had previously closed at $31.39.
Several other equities analysts have also recently weighed in on BYND. Cowen lowered their target price on Beyond Meat from $42.00 to $26.00 in a research note on Thursday, May 12th. BMO Capital Markets lowered their target price on Beyond Meat from $60.00 to $30.00 in a research note on Thursday, May 12th. Barclays cut Beyond Meat from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $80.00 to $25.00 in a research note on Thursday, May 12th. Mizuho lowered their target price on Beyond Meat from $35.00 to $21.00 in a research note on Thursday, May 12th. Finally, Cowen lowered their target price on Beyond Meat from $42.00 to $26.00 in a research note on Thursday, May 12th. Six equities research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $41.71.
Institutional Investors Weigh In On Beyond Meat
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CarsonAllaria Wealth Management Ltd. bought a new position in Beyond Meat in the 4th quarter worth approximately $28,000. Parallel Advisors LLC increased its position in Beyond Meat by 110.3% in the 1st quarter. Parallel Advisors LLC now owns 614 shares of the company’s stock worth $30,000 after buying an additional 322 shares during the period. Samalin Investment Counsel LLC increased 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 worth $40,000 after buying an additional 580 shares during the period. Nisa Investment Advisors LLC increased its position in Beyond Meat by 4,288.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,975 shares of the company’s stock worth $47,000 after buying an additional 1,930 shares during the period. Finally, Psagot Value Holdings Ltd. Israel bought a new position in Beyond Meat in the 1st quarter worth approximately $52,000. 67.15% of the stock is currently owned by institutional investors and hedge funds.
Beyond Meat Trading Up 21.9 %
The company has a market capitalization of $2.43 billion, a P/E ratio of -9.49 and a beta of 1.80. The company has a debt-to-equity ratio of 27.60, a quick ratio of 6.27 and a current ratio of 9.08. The company has a 50-day simple moving average of $28.67 and a 200 day simple moving average of $39.58.
Beyond Meat (NASDAQ:BYND – Get Rating) last released its quarterly earnings data on Thursday, August 4th. The company reported ($1.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.18) by ($0.35). The firm 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 54.79% and a negative return on equity of 160.55%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.31) earnings per share. Sell-side analysts expect that Beyond Meat, Inc. will post -4.61 earnings per share for the current year.
About Beyond Meat
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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