Investors Buy Large Volume of Call Options on Beyond Meat (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) was the target of some unusual options trading activity on Monday. Investors acquired 51,036 call options on the company. Thisisanincreaseofapproximately219% compared to the average daily volume of 16,007 call options.

Beyond Meat Trading Up 5.1%

NASDAQ:BYND traded up $0.1250 during midday trading on Monday, hitting $2.5750. 2,745,659 shares of the stock were exchanged, compared to its average volume of 2,697,356. Beyond Meat has a one year low of $2.22 and a one year high of $7.60. The company has a market capitalization of $197.37 million, a price-to-earnings ratio of -1.19 and a beta of 2.22. The business has a 50-day moving average price of $3.25 and a two-hundred day moving average price of $3.15.

Beyond Meat (NASDAQ:BYND - Get Free Report) last announced its 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 during the quarter, compared to analysts' expectations of $85.71 million. During the same quarter last year, the firm posted ($0.53) earnings per share. Beyond Meat's quarterly revenue was down 19.5% compared to the same quarter last year. Sell-side analysts forecast that Beyond Meat will post -2.1 EPS for the current fiscal year.

Analysts Set New Price Targets

BYND has been the topic of several recent research reports. BMO Capital Markets cut their price objective 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. JPMorgan Chase & Co. initiated coverage on shares of Beyond Meat in a research report on Wednesday, August 20th. They issued an "underweight" rating on the stock. Finally, Barclays cut their price objective on shares of Beyond Meat from $3.00 to $2.00 and set an "underweight" rating on the stock in a research report on Thursday, May 8th. One analyst has rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Strong Sell" and an average target price of $3.67.

Institutional Trading of Beyond Meat

A number of hedge funds and other institutional investors have recently made changes to their positions in BYND. Russell Investments Group Ltd. raised its holdings in shares of Beyond Meat by 305.1% in the 4th quarter. Russell Investments Group Ltd. now owns 7,887 shares of the company's stock worth $30,000 after purchasing an additional 5,940 shares in the last quarter. Apollon Wealth Management LLC bought a new stake in shares of Beyond Meat in the 1st quarter worth approximately $31,000. Pitcairn Co. bought a new stake in shares of Beyond Meat in the 2nd quarter worth approximately $37,000. Chiron Capital Management LLC bought a new stake in shares of Beyond Meat in the 1st quarter worth approximately $38,000. Finally, Ameriprise Financial Inc. bought a new stake in shares of Beyond Meat in the 4th quarter worth approximately $39,000. 52.48% of the stock is currently owned by institutional investors.

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.

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