Beyond Meat (NASDAQ:BYND) Shares Down 4.3% - Should You Sell?

Key Points

• Beyond Meat shares are down 4.3%, trading between $1.2750 and $1.33, as 161 million shares were exchanged during the day, marking a significant increase in volume.
• Several analysts have downgraded Beyond Meat, with Argus lowering their rating to "sell" and other firms reducing price targets significantly, indicating a negative outlook for the stock.
• Beyond Meat reported a loss of ($0.43) EPS last quarter, missing estimates, and its revenue fell by 19.5% year-over-year, contributing to a challenging financial landscape.

Beyond Meat, Inc. (NASDAQ:BYND - Get Free Report) shares traded down 4.3% during mid-day trading on Tuesday . The stock traded as low as $1.2750 and last traded at $1.33. 161,744,491 shares changed hands during trading, an increase of 232% from the average session volume of 48,735,359 shares. The stock had previously closed at $1.39.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BYND. Argus downgraded shares of Beyond Meat from a "hold" rating to a "sell" rating in a research report on Monday, September 15th. BMO Capital Markets decreased their price target on 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. TD Cowen decreased their target price on shares of Beyond Meat from $2.00 to $0.80 and set a "sell" rating for the company in a research report on Tuesday, October 14th. JPMorgan Chase & Co. began coverage on shares of Beyond Meat in a report on Wednesday, August 20th. They issued an "underweight" rating for the company. Finally, Mizuho lowered their price target on Beyond Meat from $2.00 to $1.50 and set an "underperform" rating on the stock in a research report on Friday, October 24th. Two research analysts have rated the stock with a Hold rating and seven have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Beyond Meat currently has an average rating of "Strong Sell" and an average price target of $2.08.

Beyond Meat Trading Down 4.3%

The stock has a market cap of $528.82 million, a price-to-earnings ratio of -0.61 and a beta of 2.32. The company has a fifty day simple moving average of $2.25 and a 200-day simple moving average of $2.76.

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

Institutional Investors Weigh In On Beyond Meat

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BYND. Apollon Wealth Management LLC acquired a new stake in Beyond Meat during the first quarter valued at $31,000. Pitcairn Co. acquired a new stake in shares of Beyond Meat during the 2nd quarter valued at about $37,000. Rathbones Group PLC bought a new stake in shares of Beyond Meat in the 2nd quarter valued at approximately $40,000. Chiron Capital Management LLC acquired a new position in Beyond Meat in the first quarter worth approximately $38,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in Beyond Meat during the second quarter valued at approximately $45,000. Hedge funds and other institutional investors own 52.48% of the company's stock.

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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