GMT Capital Corp Makes New $5.05 Million Investment in Beyond Meat, Inc. $BYND

Key Points

• GMT Capital Corp established a new position in Beyond Meat, acquiring 1,445,747 shares worth about $5.05 million and owning roughly 1.89% of the company at quarter-end.
• Beyond Meat is under heavy sell-side pressure — MarketBeat shows a consensus rating of "Strong Sell" with a $1.70 target — and the stock trades near $1.09 following a quarterly EPS miss and analysts forecasting about -$2.10 EPS for the fiscal year.

GMT Capital Corp acquired a new stake in Beyond Meat, Inc. (NASDAQ:BYND - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 1,445,747 shares of the company's stock, valued at approximately $5,046,000. GMT Capital Corp owned approximately 1.89% of Beyond Meat at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vontobel Holding Ltd. lifted its position in Beyond Meat by 20.2% during the second quarter. Vontobel Holding Ltd. now owns 2,113,869 shares of the company's stock worth $7,377,000 after purchasing an additional 354,965 shares during the period. Nuveen LLC bought a new position in Beyond Meat in the 1st quarter valued at about $555,000. Ieq Capital LLC acquired a new position in shares of Beyond Meat in the 1st quarter valued at approximately $67,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Beyond Meat by 8.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 573,596 shares of the company's stock worth $1,749,000 after acquiring an additional 46,540 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Beyond Meat by 144.1% during the 1st quarter. Invesco Ltd. now owns 71,108 shares of the company's stock worth $217,000 after acquiring an additional 41,974 shares in the last quarter. 52.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on BYND. Mizuho lowered their price objective on shares of Beyond Meat from $1.50 to $1.00 and set an "underperform" rating for the company in a research report on Thursday, November 13th. Argus cut Beyond Meat from a "hold" rating to a "sell" rating in a report on Monday, September 15th. Barclays reduced their price objective on Beyond Meat from $2.00 to $1.00 and set an "underweight" rating on the stock in a research note on Wednesday, November 12th. TD Cowen lowered their target price on Beyond Meat from $2.00 to $0.80 and set a "sell" rating for the company in a research note on Tuesday, October 14th. Finally, Cowen restated a "sell" rating on shares of Beyond Meat in a research note on Tuesday, October 14th. Two analysts have rated the stock with a Hold rating and seven have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Strong Sell" and a consensus target price of $1.70.

Beyond Meat Trading Down 7.6%

Beyond Meat stock opened at $1.09 on Friday. The stock has a 50-day moving average price of $1.42 and a two-hundred day moving average price of $2.46. Beyond Meat, Inc. has a 12 month low of $0.50 and a 12 month high of $7.69. The company has a market capitalization of $494.39 million, a PE ratio of -0.34 and a beta of 2.51.

Beyond Meat (NASDAQ:BYND - Get Free Report) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.08). The firm had revenue of $70.22 million during the quarter, compared to the consensus estimate of $68.82 million. As a group, analysts predict that Beyond Meat, Inc. will post -2.1 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.