Beyond Meat (NASDAQ:BYND) Sees Large Volume Increase - Should You Buy?

Key Points

• Beyond Meat experienced a huge trading spike to 126,777,115 shares (up 213%), with the stock trading at $1.0790 versus the prior close of $0.8226.
• Analysts are overwhelmingly negative — the consensus rating is "Strong Sell" (seven Sell, two Hold) with an average price target of $0.83 after recent downgrades and target cuts.
• The latest quarter missed expectations (EPS $(0.29) vs. $(0.12) expected; revenue $61.6M vs. $63M expected) and shows weak profitability metrics, while insiders have modestly reduced positions.

Beyond Meat, Inc. (NASDAQ:BYND - Get Free Report) shares saw strong trading volume on Monday . 126,777,115 shares traded hands during trading, an increase of 213% from the previous session's volume of 40,485,898 shares.The stock last traded at $1.0790 and had previously closed at $0.8226.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Zacks Research lowered Beyond Meat from a "hold" rating to a "strong sell" rating in a report on Tuesday, April 7th. Weiss Ratings reissued a "sell (e+)" rating on shares of Beyond Meat in a report on Wednesday, January 21st. Barclays reduced their target price on Beyond Meat from $1.00 to $0.50 and set an "underweight" rating on the stock in a report on Thursday, April 2nd. Finally, BMO Capital Markets reduced their target price on Beyond Meat from $4.00 to $1.00 and set a "market perform" rating on the stock in a report on Monday, April 6th. Two equities research analysts have rated the stock with a Hold rating and seven have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Beyond Meat presently has an average rating of "Strong Sell" and an average price target of $0.83.

Beyond Meat Stock Performance

The stock has a market cap of $537.73 million, a price-to-earnings ratio of -0.41 and a beta of 2.67. The stock has a fifty day simple moving average of $0.72 and a two-hundred day simple moving average of $1.05.

Beyond Meat (NASDAQ:BYND - Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.17). Beyond Meat had a net margin of 43.98% and a negative return on equity of 37.44%. The company had revenue of $61.59 million for the quarter, compared to the consensus estimate of $63.00 million. Equities analysts expect that Beyond Meat, Inc. will post -2.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Lubi Kutua sold 419,042 shares of the firm's stock in a transaction on Monday, April 13th. The stock was sold at an average price of $0.60, for a total transaction of $251,425.20. Following the sale, the chief financial officer owned 5,749,967 shares of the company's stock, valued at $3,449,980.20. This trade represents a 6.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Beyond Meat

Hedge funds have recently modified their holdings of the company. Pitcairn Co. acquired a new stake in shares of Beyond Meat during the 2nd quarter valued at $37,000. Banco Santander S.A. acquired a new stake in shares of Beyond Meat during the 3rd quarter valued at $25,000. Russell Investments Group Ltd. boosted its holdings in shares of Beyond Meat by 400.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 14,786 shares of the company's stock valued at $28,000 after acquiring an additional 11,830 shares in the last quarter. Savant Capital LLC acquired a new stake in shares of Beyond Meat during the 3rd quarter valued at $28,000. Finally, Regatta Capital Group LLC acquired a new stake in shares of Beyond Meat during the 3rd quarter valued at $38,000. Institutional investors and hedge funds own 52.48% of the company's stock.

Beyond Meat Company Profile

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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