Beyond Meat (NASDAQ:BYND) Cut to "Strong Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Beyond Meat to “strong sell”, reinforcing a bearish consensus. MarketBeat reports three analysts rate the stock “hold” and five rate it “sell,” with a consensus target price of $23.50.
• Beyond Meat shares opened at $11.79, well below their 50-day and 200-day moving averages of $16.53 and $20.60, respectively. The stock has traded between $10.71 and $230.70 over the past year and has a market capitalization of about $202.7 million.
• Institutional investors own 52.48% of Beyond Meat, with several firms recently initiating or increasing positions, including Russell Investments Group, which raised its stake by 400.2%.

Beyond Meat (NASDAQ:BYND - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a research note issued on Saturday, Wall Street Zen reports.

A number of other research firms have also recently weighed in on BYND. Zacks Research upgraded Beyond Meat from a "strong sell" rating to a "hold" rating in a research note on Monday, June 1st. Barclays reissued an "underweight" rating and issued a $10.00 price objective (up from $0.50) on shares of Beyond Meat in a research report on Monday, August 17th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Beyond Meat in a research note on Wednesday, July 8th. Three equities research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, Beyond Meat has a consensus rating of "Strong Sell" and a consensus target price of $23.50.

Beyond Meat Trading Up 4.6%

Shares of NASDAQ:BYND opened at $11.79 on Friday. The company has a 50-day simple moving average of $16.53 and a 200 day simple moving average of $20.60. The company has a market capitalization of $202.67 million, a P/E ratio of -0.21 and a beta of 2.76. The company has a debt-to-equity ratio of 6.57, a quick ratio of 2.07 and a current ratio of 2.63. Beyond Meat has a 52-week low of $10.71 and a 52-week high of $230.70.

Institutional Investors Weigh In On Beyond Meat

Several institutional investors have recently made changes to their positions in BYND. Evolve Private Wealth LLC bought a new position in Beyond Meat during the 1st quarter worth $25,000. Xponance LLC acquired a new stake in shares of Beyond Meat during the 4th quarter worth $25,000. State of Wyoming acquired a new stake in shares of Beyond Meat during the 1st quarter worth $27,000. Russell Investments Group Ltd. increased its position in shares of Beyond Meat by 400.2% in the third quarter. Russell Investments Group Ltd. now owns 14,786 shares of the company's stock worth $28,000 after purchasing an additional 11,830 shares during the period. Finally, Chicago Partners Investment Group LLC acquired a new position in Beyond Meat in the first quarter valued at about $29,000. 52.48% of the stock is currently owned by institutional investors.

Beyond Meat Company Profile

Beyond Meat, Inc NASDAQ: BYND develops, manufactures and sells plant-based meat substitutes designed to replicate the taste, texture and appearance of animal-based proteins. Since its founding in 2009 by Ethan Brown and initial public offering in 2019, the company has focused on leveraging proprietary technology and ingredient blends to produce a suite of products that cater to both retail and foodservice channels. Beyond Meat's mission centers on offering more sustainable protein options by reducing reliance on livestock farming and its associated environmental footprint.

The company's product portfolio includes Beyond Burger, Beyond Sausage, Beyond Beef and Beyond Chicken, each formulated to appeal to a broad range of consumers seeking meat alternatives without compromising on flavor or cooking versatility.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source