Beyond Meat Target of Unusually Large Options Trading (NASDAQ:BYND)

Beyond Meat, Inc. (NASDAQ:BYND - Get Free Report) was the recipient of unusually large options trading on Friday. Investors bought 39,766 put options on the stock. This is an increase of 139% compared to the typical daily volume of 16,666 put options.

Analysts Set New Price Targets

A number of research firms have weighed in on BYND. Barclays decreased their target price on shares of Beyond Meat from $4.00 to $3.00 and set an "underweight" rating for the company in a research report on Thursday, February 27th. BMO Capital Markets lowered their target price on shares of Beyond Meat from $6.00 to $5.00 and set a "market perform" rating for the company in a research note on Thursday, February 27th. Three analysts have rated the stock with a sell rating and two have given a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and an average price target of $4.70.

Beyond Meat Stock Performance

Shares of NASDAQ BYND traded up $0.01 during midday trading on Wednesday, hitting $2.52. 795,831 shares of the stock traded hands, compared to its average volume of 3,021,238. Beyond Meat has a one year low of $2.41 and a one year high of $10.31. The business has a 50 day moving average price of $3.07 and a two-hundred day moving average price of $4.09. The company has a market cap of $192.48 million, a PE ratio of -0.60 and a beta of 2.38.

Beyond Meat (NASDAQ:BYND - Get Free Report) last announced its earnings results on Wednesday, February 26th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.21). The firm had revenue of $76.66 million for the quarter, compared to the consensus estimate of $76.08 million. As a group, equities research analysts forecast that Beyond Meat will post -2.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Beyond Meat

Large investors have recently modified their holdings of the stock. Ballentine Partners LLC purchased a new stake in Beyond Meat in the fourth quarter worth $39,000. Zweig DiMenna Associates LLC purchased a new position in shares of Beyond Meat in the fourth quarter worth about $1,746,000. Perigon Wealth Management LLC raised its position in shares of Beyond Meat by 25.9% in the fourth quarter. Perigon Wealth Management LLC now owns 14,530 shares of the company's stock valued at $55,000 after purchasing an additional 2,986 shares during the period. Van ECK Associates Corp boosted its holdings in Beyond Meat by 68.8% in the 4th quarter. Van ECK Associates Corp now owns 10,498 shares of the company's stock worth $39,000 after buying an additional 4,280 shares during the period. Finally, Vontobel Holding Ltd. lifted its holdings in Beyond Meat by 128.7% during the 4th quarter. Vontobel Holding Ltd. now owns 1,302,941 shares of the company's stock worth $4,899,000 after purchasing an additional 733,168 shares in the last quarter. Hedge funds and other institutional investors own 52.48% of the company's stock.

About Beyond Meat

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.