Beyond Meat, Inc. (NASDAQ:BYND) Given Consensus Recommendation of "Strong Sell" by Brokerages

Key Points

• Beyond Meat has a consensus “Strong Sell” rating from seven analysts: four recommend selling and three advise holding. The average 12-month price target is $23.50.
• Recent analyst actions remain largely negative, including Barclays’ reaffirmed “underweight” rating, while Zacks Research and Wall Street Zen made modest upgrades to “hold” and “sell,” respectively.
• Shares traded at $11.91, near the lower end of their 52-week range of $9.81 to $230.70. The company has a high debt-to-equity ratio of 6.57, while institutional investors and hedge funds own 52.48% of its stock.

Beyond Meat, Inc. (NASDAQ:BYND - Get Free Report) has received an average rating of "Strong Sell" from the seven research firms that are currently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $23.50.

BYND has been the topic of a number of research analyst reports. Barclays reaffirmed an "underweight" rating and set a $10.00 target price (up from $0.50) on shares of Beyond Meat in a report on Monday, August 17th. Weiss Ratings reissued a "sell (d)" rating on shares of Beyond Meat in a report on Wednesday, July 8th. Wall Street Zen upgraded shares of Beyond Meat from a "strong sell" rating to a "sell" rating in a research report on Sunday, September 13th. Finally, Zacks Research raised shares of Beyond Meat from a "strong sell" rating to a "hold" rating in a research note on Monday, June 1st.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BYND. Evolve Private Wealth LLC acquired a new stake in shares of Beyond Meat during the 1st quarter valued at $25,000. State of Wyoming acquired a new position in shares of Beyond Meat in the 1st quarter worth $27,000. Leonteq Securities AG acquired a new position in shares of Beyond Meat in the 4th quarter worth $33,000. Chicago Partners Investment Group LLC acquired a new stake in shares of Beyond Meat during the first quarter worth $29,000. Finally, Two Sigma Securities LLC raised its position in shares of Beyond Meat by 64.9% during the second quarter. Two Sigma Securities LLC now owns 51,002 shares of the company's stock worth $38,000 after purchasing an additional 20,070 shares during the period. Institutional investors and hedge funds own 52.48% of the company's stock.

Beyond Meat Price Performance

Shares of BYND traded up $0.21 during midday trading on Friday, reaching $11.91. The stock had a trading volume of 334,580 shares, compared to its average volume of 1,511,975. The company has a debt-to-equity ratio of 6.57, a current ratio of 2.63 and a quick ratio of 2.07. The company has a market capitalization of $204.75 million, a P/E ratio of -0.21 and a beta of 2.76. The firm's 50 day moving average price is $14.63 and its 200-day moving average price is $19.82. Beyond Meat has a 52 week low of $9.81 and a 52 week high of $230.70.

About Beyond Meat

Beyond Meat, Inc develops, produces and markets plant-based meat alternatives designed to replicate the taste, texture and nutritional attributes of conventional animal-based meat. Its products are made primarily from plant-derived ingredients and are intended for consumers seeking alternatives to beef, pork and poultry.

The company's product portfolio has included plant-based burgers, ground meat, sausages, meatballs, chicken-style tenders and nuggets, and other prepared meat alternatives.

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