Beyond Meat (NASDAQ:BYND) Earns "Sell (E+)" Rating from Weiss Ratings

Key Points

• Beyond Meat has received a "Sell (E+)" rating from Weiss Ratings, with a consensus rating of "Strong Sell" and an average target price of $2.08.
• The company's stock declined by 23.2%, closing at $2.18, significantly below its 52-week high of $7.69.
• Recent earnings reports show Beyond Meat missed revenue expectations, with a 19.5% year-over-year revenue decline and an earnings per share loss of ($0.43).

Beyond Meat (NASDAQ:BYND - Get Free Report)'s stock had its "sell (e+)" rating reissued by analysts at Weiss Ratings in a research report issued on Friday,Weiss Ratings reports.

A number of other research analysts have also weighed in on the stock. Mizuho reduced their price objective on shares of Beyond Meat from $2.00 to $1.50 and set an "underperform" rating for the company in a research note on Friday. JPMorgan Chase & Co. began coverage on shares of Beyond Meat in a research note on Wednesday, August 20th. They issued an "underweight" rating for the company. BTIG Research reissued a "neutral" rating on shares of Beyond Meat in a research note on Tuesday, September 30th. BMO Capital Markets lowered their price objective on shares of Beyond Meat from $5.00 to $4.00 and set a "market perform" rating for the company in a research note on Thursday, August 14th. Finally, Cowen reaffirmed a "sell" rating on shares of Beyond Meat in a research note on Tuesday, October 14th. Two equities research analysts have rated the stock with a Hold rating and seven have assigned a Sell rating to the stock. According to data from MarketBeat.com, Beyond Meat presently has a consensus rating of "Strong Sell" and an average target price of $2.08.

Beyond Meat Trading Down 23.2%

NASDAQ BYND traded down $0.66 during trading hours on Friday, hitting $2.18. The company's stock had a trading volume of 786,429,374 shares, compared to its average volume of 42,261,508. Beyond Meat has a 52 week low of $0.50 and a 52 week high of $7.69. The company has a market capitalization of $167.32 million, a PE ratio of -1.00 and a beta of 2.33. The company's 50-day simple moving average is $2.34 and its two-hundred day simple moving average is $2.81.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its position in Beyond Meat by 22.5% in the second quarter. The Manufacturers Life Insurance Company now owns 28,047 shares of the company's stock worth $98,000 after acquiring an additional 5,143 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position 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 during the period. Intech Investment Management LLC raised its holdings in shares of Beyond Meat by 17.3% in the 2nd quarter. Intech Investment Management LLC now owns 44,984 shares of the company's stock valued at $157,000 after purchasing an additional 6,629 shares in the last quarter. Police & Firemen s Retirement System of New Jersey raised its holdings in shares of Beyond Meat by 68.2% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 20,598 shares of the company's stock valued at $72,000 after purchasing an additional 8,355 shares in the last quarter. Finally, Apollon Wealth Management LLC bought a new stake in shares of Beyond Meat in the 1st quarter valued at about $31,000. 52.48% of the stock is currently owned by institutional investors.

Beyond Meat Company Profile

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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