Beyond Meat (NASDAQ:BYND) Given New $9.00 Price Target at BMO Capital Markets

Beyond Meat (NASDAQ:BYND - Get Free Report) had its price objective lowered by analysts at BMO Capital Markets from $10.00 to $9.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a "market perform" rating on the stock. BMO Capital Markets' target price points to a potential upside of 28.02% from the stock's previous close.

Other equities analysts have also recently issued reports about the company. Mizuho decreased their target price on Beyond Meat from $7.00 to $6.00 and set an "underperform" rating on the stock in a report on Monday, April 22nd. TD Cowen reduced their price target on shares of Beyond Meat from $10.00 to $6.00 and set a "sell" rating on the stock in a research report on Wednesday, April 17th. Argus upgraded shares of Beyond Meat from a "sell" rating to a "hold" rating in a research report on Thursday, February 29th. Finally, The Goldman Sachs Group reduced their target price on shares of Beyond Meat from $4.00 to $3.50 and set a "sell" rating on the stock in a report on Thursday. Six equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Reduce" and an average target price of $5.36.

Beyond Meat Price Performance

Shares of NASDAQ:BYND traded down $1.18 during trading on Thursday, hitting $7.03. 4,051,221 shares of the company were exchanged, compared to its average volume of 3,166,303. The company has a market cap of $454.68 million, a PE ratio of -1.35 and a beta of 2.42. The stock has a 50 day moving average of $7.64 and a 200 day moving average of $7.58. 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 posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.72) EPS for the quarter, missing analysts' consensus estimates of ($0.67) by ($0.05). The company had revenue of $75.60 million for the quarter, compared to the consensus estimate of $75.24 million. During the same period in the prior year, the company earned ($0.92) EPS. The firm's revenue was down 18.0% compared to the same quarter last year. Sell-side analysts forecast that Beyond Meat will post -2.29 EPS for the current fiscal year.

Institutional Trading of Beyond Meat

Institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Beyond Meat by 39.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,452 shares of the company's stock valued at $360,000 after acquiring an additional 10,673 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Beyond Meat by 5.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 58,921 shares of the company's stock valued at $567,000 after purchasing an additional 3,143 shares in the last quarter. Olympiad Research LP purchased a new stake in Beyond Meat during the third quarter valued at about $280,000. Sigma Planning Corp purchased a new stake in shares of Beyond Meat in the third quarter worth approximately $98,000. Finally, Jump Financial LLC acquired a new position in Beyond Meat in the third quarter worth approximately $194,000. 52.48% of the stock is currently owned by hedge funds and other 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.