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

Key Points

• Beyond Meat, Inc. has received a consensus rating of "Strong Sell" from multiple brokerages, with four analysts recommending a sell and two suggesting a hold.
• The current average 1-year price target for Beyond Meat is $3.00, reflecting a decline in analyst sentiment.
• In the company's most recent earnings report, Beyond Meat missed analysts' expectations by posting a loss of ($0.43) EPS and revenue of $74.96 million, which was down 19.5% year-over-year.

Beyond Meat, Inc. (NASDAQ:BYND - Get Free Report) has been given a consensus rating of "Strong Sell" by the six research firms that are currently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $3.00.

A number of brokerages recently commented on BYND. Weiss Ratings reiterated a "sell (e+)" rating on shares of Beyond Meat in a research note on Saturday, September 27th. BMO Capital Markets decreased their target price on shares of Beyond Meat from $5.00 to $4.00 and set a "market perform" rating on the stock in a research report on Thursday, August 14th. Argus lowered shares of Beyond Meat from a "hold" rating to a "sell" rating in a research report on Monday, September 15th. JPMorgan Chase & Co. started coverage on shares of Beyond Meat in a research report on Wednesday, August 20th. They set an "underweight" rating on the stock. Finally, BTIG Research restated a "neutral" rating on shares of Beyond Meat in a research report on Tuesday.

Beyond Meat Price Performance

Shares of BYND stock traded up $0.24 during trading hours on Friday, reaching $2.57. The company had a trading volume of 9,458,381 shares, compared to its average volume of 7,204,332. The company has a 50 day moving average of $2.66 and a 200 day moving average of $2.94. The firm has a market cap of $197.25 million, a price-to-earnings ratio of -1.18 and a beta of 2.33. Beyond Meat has a 1-year low of $1.23 and a 1-year high of $6.81.

Beyond Meat (NASDAQ:BYND - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.06). The business had revenue of $74.96 million during the quarter, compared to analysts' expectations of $85.71 million. During the same period last year, the firm posted ($0.53) earnings per share. The company's revenue for the quarter was down 19.5% on a year-over-year basis. As a group, sell-side analysts forecast that Beyond Meat will post -2.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Beyond Meat

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Apollon Wealth Management LLC bought a new position in shares of Beyond Meat during the first quarter valued at $31,000. Ameriprise Financial Inc. bought a new position in shares of Beyond Meat during the fourth quarter valued at $39,000. Pitcairn Co. bought a new position in shares of Beyond Meat during the second quarter valued at $37,000. Rathbones Group PLC bought a new position in shares of Beyond Meat during the second quarter valued at $40,000. Finally, Chiron Capital Management LLC bought a new position in shares of Beyond Meat during the first quarter valued at $38,000. Institutional investors own 52.48% of the company's stock.

About Beyond Meat

Beyond Meat, Inc, a plant-based meat company, develops, 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 stores, and natural retailer channels, as well as various food-away-from-home channels, including restaurants, foodservice outlets, and schools.

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