Beyond Meat (NASDAQ:BYND) Downgraded by Zacks Research to Strong Sell

Key Points

• Zacks Research downgraded Beyond Meat to a "Strong Sell", joining most analysts (seven Sell, two Hold) and leaving the stock with an average analyst rating of "Strong Sell" and an average price target of $0.83.
• Beyond Meat reported Q1 EPS of ($0.29) versus consensus ($0.12) and revenue of $61.6M versus $63.0M, and analysts now forecast roughly -2.1 EPS for the fiscal year, indicating ongoing operating weakness.
• The stock is trading near its one-year low (opened at $0.60) with a ~$273M market cap, while institutional activity has surged—Geode and UBS materially increased holdings—against technicals showing a 50‑day/200‑day SMA of $0.72/$1.15.

Beyond Meat (NASDAQ:BYND - Get Free Report) was downgraded by stock analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other research analysts also recently issued research reports about the stock. Weiss Ratings reiterated a "sell (e+)" rating on shares of Beyond Meat in a research note on Wednesday, January 21st. Barclays decreased their price target on shares of Beyond Meat from $1.00 to $0.50 and set an "underweight" rating for the company in a research note on Thursday, April 2nd. Finally, BMO Capital Markets decreased their price target on shares of Beyond Meat from $4.00 to $1.00 and set a "market perform" rating for the company in a research note on Monday. Two investment analysts have rated the stock with a Hold rating and seven have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Strong Sell" and an average target price of $0.83.

Beyond Meat Stock Performance

NASDAQ BYND opened at $0.60 on Tuesday. The firm has a 50 day simple moving average of $0.72 and a 200-day simple moving average of $1.15. Beyond Meat has a one year low of $0.50 and a one year high of $7.69. The firm has a market cap of $273.21 million, a price-to-earnings ratio of -0.21 and a beta of 2.67.

Beyond Meat (NASDAQ:BYND - Get Free Report) last issued its quarterly 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 company had revenue of $61.59 million for the quarter, compared to the consensus estimate of $63.00 million. Equities analysts predict that Beyond Meat will post -2.1 EPS for the current fiscal year.

Institutional Trading of Beyond Meat

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its holdings 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 worth $8,142,000 after purchasing an additional 8,105,718 shares in the last quarter. UBS Group AG raised its holdings in Beyond Meat by 674.8% during the fourth quarter. UBS Group AG now owns 9,788,528 shares of the company's stock worth $8,027,000 after purchasing an additional 8,525,183 shares in the last quarter. Vanguard Group Inc. raised its holdings in Beyond Meat by 1.5% during the third quarter. Vanguard Group Inc. now owns 4,780,045 shares of the company's stock worth $9,034,000 after purchasing an additional 69,423 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Beyond Meat by 497.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,383,511 shares of the company's stock worth $2,774,000 after purchasing an additional 2,816,778 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its holdings in Beyond Meat by 38.0% during the third quarter. Vontobel Holding Ltd. now owns 2,917,994 shares of the company's stock worth $5,515,000 after purchasing an additional 804,125 shares in the last quarter. Institutional investors and hedge funds 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.

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.