Beyond Meat Sees Unusually Large Options Volume (NASDAQ:BYND)

Key Points

• Beyond Meat experienced a significant surge in call option trading, with investors acquiring 51,036 call options, marking a 219% increase compared to the average daily volume.
• The stock price of Beyond Meat rose by 5.1% during midday trading, reaching $2.5750, while the company has experienced a 19.5% decline in quarterly revenue compared to the same period last year.
• Recent analyst reports reflected a bearish outlook, with BMO Capital Markets and Barclays lowering their price targets on the stock, indicating a consensus rating of "Strong Sell."

Beyond Meat, Inc. (NASDAQ:BYND - Get Free Report) saw unusually large options trading activity on Monday. Traders bought 51,036 call options on the stock. Thisisanincreaseofapproximately219% compared to the average volume of 16,007 call options.

Beyond Meat Price Performance

NASDAQ BYND traded down $0.04 on Friday, hitting $2.50. The company had a trading volume of 1,360,931 shares, compared to its average volume of 2,364,809. The company has a market capitalization of $191.63 million, a PE ratio of -1.15 and a beta of 2.22. The company's fifty day moving average price is $3.17 and its 200-day moving average price is $3.11. Beyond Meat has a 12-month low of $2.22 and a 12-month high of $7.60.

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 the consensus estimate of $85.71 million. The business's quarterly revenue was down 19.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.53) earnings per share. On average, sell-side analysts anticipate that Beyond Meat will post -2.1 EPS for the current year.

Institutional Investors Weigh In On Beyond Meat

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pitcairn Co. acquired a new stake in Beyond Meat during the 2nd quarter worth $37,000. Corient Private Wealth LLC acquired a new position in Beyond Meat in the second quarter valued at about $83,000. GMT Capital Corp acquired a new position in Beyond Meat in the second quarter valued at about $5,046,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Beyond Meat by 8.3% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,749 shares of the company's stock valued at $275,000 after buying an additional 6,020 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Beyond Meat by 22.5% during the second quarter. The Manufacturers Life Insurance Company now owns 28,047 shares of the company's stock worth $98,000 after purchasing an additional 5,143 shares during the period. Institutional investors and hedge funds own 52.48% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on BYND shares. BMO Capital Markets cut their target price on shares of Beyond Meat from $5.00 to $4.00 and set a "market perform" rating on the stock in a research report on Thursday, August 14th. Barclays lowered their price target on shares of Beyond Meat from $3.00 to $2.00 and set an "underweight" rating on the stock in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Beyond Meat in a research note on Wednesday, August 20th. They issued an "underweight" rating for the company. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Beyond Meat has an average rating of "Sell" and an average price target of $3.00.

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.