Beyond Meat, Inc. (NASDAQ:BYND) Receives Average Recommendation of "Strong Sell" from Brokerages

Key Points

• Analysts overwhelmingly rate Beyond Meat a “Strong Sell”: Six of nine brokerages recommend selling, while three recommend holding. The average 12-month price target is $0.825, with Barclays cutting its target to $0.50.
• BYND shares traded at $0.54, near their 52-week low of $0.50 and well below the 52-week high of $7.69. The stock is down relative to both its 50-day and 200-day moving averages.
• Beyond Meat slightly exceeded quarterly expectations, reporting a $0.10 per-share loss versus the estimated $0.12 loss and revenue of $58.21 million. However, the company remains unprofitable, with negative return on equity and analysts forecasting a full-year loss.

Shares of Beyond Meat, Inc. (NASDAQ:BYND - Get Free Report) have received a consensus rating of "Strong Sell" from the nine research firms that are currently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $0.8250.

BYND has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Beyond Meat from a "strong sell" rating to a "sell" rating in a research note on Sunday, July 12th. Weiss Ratings restated a "sell (d)" rating on shares of Beyond Meat in a research note on Wednesday, July 8th. Barclays decreased their price objective on Beyond Meat from $1.00 to $0.50 and set an "underweight" rating for the company in a report on Thursday, April 2nd. Zacks Research upgraded shares of Beyond Meat from a "strong sell" rating to a "hold" rating in a research note on Monday, June 1st. Finally, BMO Capital Markets cut their price objective on shares of Beyond Meat from $4.00 to $1.00 and set a "market perform" rating for the company in a report on Monday, April 6th.

Beyond Meat Trading Up 2.5%

Shares of BYND stock traded up $0.01 during trading on Thursday, hitting $0.54. The company's stock had a trading volume of 3,128,431 shares, compared to its average volume of 44,785,621. The business has a fifty day moving average of $0.69 and a 200-day moving average of $0.76. The company has a market cap of $280.34 million, a PE ratio of -0.24 and a beta of 2.75. 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 announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.12) by $0.02. The firm had revenue of $58.21 million during the quarter, compared to the consensus estimate of $58.02 million. Beyond Meat had a negative return on equity of 54.39% and a net margin of 54.95%. As a group, research analysts predict that Beyond Meat will post -0.35 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its stake in Beyond Meat by 445.0% during the fourth quarter. Geode Capital Management LLC now owns 9,927,157 shares of the company's stock valued at $8,142,000 after acquiring an additional 8,105,718 shares in the last quarter. UBS Group AG boosted its holdings in Beyond Meat by 674.8% in the 4th quarter. UBS Group AG now owns 9,788,528 shares of the company's stock valued at $8,027,000 after purchasing an additional 8,525,183 shares during the period. Vanguard Group Inc. grew its position in shares of Beyond Meat by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 4,780,045 shares of the company's stock valued at $9,034,000 after purchasing an additional 69,423 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Beyond Meat by 497.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,383,511 shares of the company's stock worth $2,774,000 after buying an additional 2,816,778 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Beyond Meat by 7.5% during the first quarter. Bank of New York Mellon Corp now owns 1,012,988 shares of the company's stock valued at $711,000 after buying an additional 70,513 shares during the period. Hedge funds and other institutional investors own 52.48% of the company's stock.

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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