TD Cowen Cuts Beyond Meat (NASDAQ:BYND) Price Target to $6.00

Beyond Meat (NASDAQ:BYND - Free Report) had its target price decreased by TD Cowen from $10.00 to $6.00 in a research note issued to investors on Wednesday morning, Benzinga reports. TD Cowen currently has a sell rating on the stock.

Other research analysts have also issued reports about the stock. Mizuho increased their price target on shares of Beyond Meat from $5.00 to $7.00 and gave the stock an underperform rating in a research note on Thursday, February 29th. Argus upgraded shares of Beyond Meat from a sell rating to a hold rating in a research note on Thursday, February 29th. Finally, BMO Capital Markets raised their price objective on shares of Beyond Meat from $7.00 to $10.00 and gave the company a market perform rating in a research note on Wednesday, February 28th. Five research analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to data from MarketBeat, the stock has an average rating of Reduce and an average price target of $6.00.

Beyond Meat Stock Performance

Shares of Beyond Meat stock traded down $0.13 during trading on Wednesday, hitting $6.43. The company's stock had a trading volume of 1,518,174 shares, compared to its average volume of 3,311,211. The company has a fifty day simple moving average of $7.74 and a two-hundred day simple moving average of $7.73. The company has a market capitalization of $415.89 million, a PE ratio of -1.22 and a beta of 2.41. Beyond Meat has a 52 week low of $5.58 and a 52 week high of $19.25.

Beyond Meat (NASDAQ:BYND - Get Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($2.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($1.58). The company had revenue of $73.68 million for the quarter, compared to the consensus estimate of $66.66 million. Beyond Meat's quarterly revenue was down 7.8% compared to the same quarter last year. During the same period last year, the firm posted ($1.05) EPS. As a group, analysts predict that Beyond Meat will post -2.46 EPS for the current year.

Institutional Trading of Beyond Meat

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Banque Cantonale Vaudoise grew its stake in shares of Beyond Meat by 117.4% in the first quarter. Banque Cantonale Vaudoise now owns 3,220 shares of the company's stock worth $26,000 after acquiring an additional 1,739 shares during the period. Clear Street Markets LLC bought a new stake in shares of Beyond Meat in the third quarter worth approximately $31,000. Captrust Financial Advisors grew its stake in shares of Beyond Meat by 48.6% in the second quarter. Captrust Financial Advisors now owns 1,746 shares of the company's stock worth $42,000 after acquiring an additional 571 shares during the period. Quest Partners LLC bought a new stake in shares of Beyond Meat in the fourth quarter worth approximately $48,000. Finally, Scarborough Advisors LLC bought a new stake in shares of Beyond Meat in the fourth quarter worth approximately $62,000. 52.48% of the stock is currently owned by institutional investors.

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.