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Stock Traders Buy Large Volume of Beyond Meat Call Options (NASDAQ:BYND)

Beyond Meat logo with Consumer Staples background

Beyond Meat, Inc. (NASDAQ:BYND - Get Free Report) saw unusually large options trading activity on Tuesday. Stock traders purchased 25,683 call options on the stock. This is an increase of approximately 62% compared to the average daily volume of 15,863 call options.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BYND shares. BMO Capital Markets lowered their price target on shares of Beyond Meat from $6.00 to $5.00 and set a "market perform" rating for the company in a report on Thursday, February 27th. Barclays lowered their price target on shares of Beyond Meat from $3.00 to $2.00 and set an "underweight" rating for the company in a report on Thursday, May 8th.

Check Out Our Latest Analysis on Beyond Meat

Beyond Meat Stock Down 3.4%

Beyond Meat stock traded down $0.11 during trading hours on Friday, hitting $3.16. 1,103,084 shares of the company traded hands, compared to its average volume of 2,890,110. The firm has a market cap of $241.65 million, a P/E ratio of -0.76 and a beta of 2.15. The firm's 50-day simple moving average is $2.79 and its two-hundred day simple moving average is $3.42. Beyond Meat has a 1-year low of $2.23 and a 1-year high of $9.24.

Beyond Meat (NASDAQ:BYND - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by ($0.15). During the same period in the prior year, the business earned ($0.84) EPS. The company's quarterly revenue was down 9.1% compared to the same quarter last year. On average, equities research analysts predict that Beyond Meat will post -2.1 earnings per share for the current year.

Hedge Funds Weigh In On Beyond Meat

Institutional investors and hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp boosted its stake in shares of Beyond Meat by 68.8% in the 4th quarter. Van ECK Associates Corp now owns 10,498 shares of the company's stock valued at $39,000 after purchasing an additional 4,280 shares in the last quarter. Vontobel Holding Ltd. increased its stake in shares of Beyond Meat by 128.7% in the 4th quarter. Vontobel Holding Ltd. now owns 1,302,941 shares of the company's stock valued at $4,899,000 after acquiring an additional 733,168 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Beyond Meat by 61.2% in the 4th quarter. Rhumbline Advisers now owns 131,327 shares of the company's stock valued at $494,000 after acquiring an additional 49,875 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Beyond Meat by 5.4% during the 4th quarter. Bank of New York Mellon Corp now owns 205,668 shares of the company's stock worth $773,000 after purchasing an additional 10,540 shares in the last quarter. Finally, Versor Investments LP bought a new stake in Beyond Meat during the 4th quarter worth approximately $85,000. Institutional investors own 52.48% of the company's stock.

Beyond Meat Company Profile

(Get Free Report)

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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