Beyond Meat (NASDAQ:BYND) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Beyond Meat from “strong sell” to “sell,” while the broader analyst consensus remains “Strong Sell,” with an average price target of $23.50.
• Beyond Meat shares opened at $10.21, near their 12-month low of $10.16, and remain well below their 50-day and 200-day moving averages of $15.45 and $20.22, respectively.
• Institutional investors and hedge funds own 52.48% of the company; several investors increased their positions during the second quarter.

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

Other research analysts have also recently issued research reports about the stock. Barclays reaffirmed an "underweight" rating and issued a $10.00 price objective (up from $0.50) on shares of Beyond Meat in a report on Monday, August 17th. Weiss Ratings restated a "sell (d)" rating on shares of Beyond Meat in a research report on Wednesday, July 8th. Finally, Zacks Research upgraded Beyond Meat from a "strong sell" rating to a "hold" rating in a research note on Monday, June 1st. Three investment analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Strong Sell" and an average price target of $23.50.

Beyond Meat Price Performance

Shares of NASDAQ BYND opened at $10.21 on Friday. The company has a debt-to-equity ratio of 6.57, a current ratio of 2.63 and a quick ratio of 2.07. The stock has a market capitalization of $175.51 million, a price-to-earnings ratio of -0.18 and a beta of 2.76. The firm's 50 day simple moving average is $15.45 and its 200-day simple moving average is $20.22. Beyond Meat has a 12 month low of $10.16 and a 12 month high of $230.70.

Hedge Funds Weigh In On Beyond Meat

Large investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company grew its position in shares of Beyond Meat by 22.5% in the second quarter. The Manufacturers Life Insurance Company now owns 28,047 shares of the company's stock valued at $98,000 after purchasing an additional 5,143 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Beyond Meat by 8.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,749 shares of the company's stock valued at $275,000 after buying an additional 6,020 shares in the last quarter. Pitcairn Co. purchased a new position in Beyond Meat in the 2nd quarter valued at about $37,000. Cerity Partners LLC boosted its holdings in Beyond Meat by 76.2% in the 2nd quarter. Cerity Partners LLC now owns 24,958 shares of the company's stock worth $87,000 after buying an additional 10,792 shares during the last quarter. Finally, Cetera Investment Advisers boosted its holdings in Beyond Meat by 66.4% in the 2nd quarter. Cetera Investment Advisers now owns 27,378 shares of the company's stock worth $96,000 after buying an additional 10,924 shares during the last quarter. 52.48% of the stock is currently owned by institutional investors and hedge funds.

About Beyond Meat

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.

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