Stock Traders Buy Large Volume of Call Options on Beyond Meat (NASDAQ:BYND)

Beyond Meat, Inc. (NASDAQ:BYND - Get Free Report) saw unusually large options trading on Monday. Investors bought 43,802 call options on the stock. This represents an increase of 29% compared to the average daily volume of 34,003 call options.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BYND. Mizuho reduced their price objective on Beyond Meat from $7.00 to $6.00 and set an "underperform" rating on the stock in a research note on Monday, April 22nd. Argus raised Beyond Meat from a "sell" rating to a "hold" rating in a report on Thursday, February 29th. TD Cowen dropped their price objective on Beyond Meat from $10.00 to $6.00 and set a "sell" rating on the stock in a report on Wednesday, April 17th. The Goldman Sachs Group decreased their price target on shares of Beyond Meat from $4.00 to $3.50 and set a "sell" rating for the company in a research report on Thursday. Finally, Canaccord Genuity Group reduced their price target on shares of Beyond Meat from $9.00 to $7.00 and set a "hold" rating on the stock in a research report on Friday. Six equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to MarketBeat.com, Beyond Meat currently has an average rating of "Reduce" and a consensus price target of $5.56.

Beyond Meat Trading Up 11.3 %

Shares of NASDAQ BYND traded up $0.80 during mid-day trading on Monday, reaching $7.96. The company had a trading volume of 5,362,416 shares, compared to its average volume of 3,178,996. The company has a 50-day moving average price of $7.51 and a two-hundred day moving average price of $7.61. The stock has a market cap of $516.52 million, a PE ratio of -1.54 and a beta of 2.42. Beyond Meat has a 1-year low of $5.58 and a 1-year high of $19.25.

Beyond Meat (NASDAQ:BYND - Get Free Report) last posted its quarterly earnings data 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 analysts' expectations of $75.24 million. During the same period last year, the company earned ($0.92) earnings per share. The business's revenue for the quarter was down 18.0% on a year-over-year basis. On average, research analysts expect that Beyond Meat will post -2.13 EPS for the current year.

Institutional Trading of Beyond Meat

Several large investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Beyond Meat by 39.9% during the 3rd 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 last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Beyond Meat by 5.6% in the third 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 during the period. Olympiad Research LP acquired a new stake in shares of Beyond Meat in the third quarter worth $280,000. Sigma Planning Corp bought a new stake in shares of Beyond Meat during the 3rd quarter worth $98,000. Finally, Jump Financial LLC bought a new stake in shares of Beyond Meat during the 3rd quarter worth $194,000. 52.48% of the stock is 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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