Beyond Meat (NASDAQ:BYND - Get Free Report) had its price target reduced by equities research analysts at Barclays from $1.00 to $0.50 in a research note issued on Thursday,Benzinga reports. The firm currently has an "underweight" rating on the stock. Barclays's price target points to a potential downside of 15.97% from the stock's previous close.
Separately, Weiss Ratings reissued a "sell (e+)" rating on shares of Beyond Meat in a research report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Strong Sell" and an average price target of $1.58.
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Beyond Meat Stock Performance
Shares of NASDAQ:BYND opened at $0.60 on Thursday. The company has a 50 day moving average price of $0.75 and a two-hundred day moving average price of $1.22. The company has a market capitalization of $269.94 million, a PE ratio of -0.21 and a beta of 2.62. Beyond Meat has a 52 week low of $0.50 and a 52 week high of $7.69.
Beyond Meat (NASDAQ:BYND - Get Free Report) last posted its earnings results on Tuesday, March 31st. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.17). The business had revenue of $61.59 million during the quarter, compared to analysts' expectations of $63.00 million. On average, sell-side analysts forecast that Beyond Meat will post -2.1 earnings per share for the current year.
Institutional Investors Weigh In On Beyond Meat
A number of hedge funds have recently added to or reduced their stakes in BYND. AQR Capital Management LLC bought a new stake in Beyond Meat during the 1st quarter worth approximately $590,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Beyond Meat by 28.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 72,729 shares of the company's stock worth $222,000 after buying an additional 16,044 shares during the last quarter. Envestnet Asset Management Inc. purchased a new position in Beyond Meat in the second quarter valued at approximately $70,000. Geode Capital Management LLC raised its position in shares of Beyond Meat by 15.7% in the second quarter. Geode Capital Management LLC now owns 1,843,998 shares of the company's stock worth $6,437,000 after buying an additional 250,628 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in Beyond Meat by 66.4% during the second quarter. Cetera Investment Advisers now owns 27,378 shares of the company's stock valued at $96,000 after buying an additional 10,924 shares during the period. 52.48% of the stock is currently owned by institutional investors.
More Beyond Meat News
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About Beyond Meat
(
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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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