Beyond Meat (NASDAQ:BYND) Shares Up 8.1%

Beyond Meat, Inc. (NASDAQ:BYND - Get Free Report) shares were up 8.1% during mid-day trading on Monday . The stock traded as high as $7.75 and last traded at $7.74. Approximately 814,900 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 3,125,587 shares. The stock had previously closed at $7.16.

Wall Street Analysts Forecast Growth

BYND has been the subject of several recent analyst reports. The Goldman Sachs Group decreased their price objective on shares of Beyond Meat from $4.00 to $3.50 and set a "sell" rating for the company in a report on Thursday. Mizuho reduced 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. BMO Capital Markets lowered their price target on Beyond Meat from $10.00 to $9.00 and set a "market perform" rating for the company in a report on Thursday. Canaccord Genuity Group dropped their price target on Beyond Meat from $9.00 to $7.00 and set a "hold" rating on the stock in a research report on Friday. Finally, Argus raised shares of Beyond Meat from a "sell" rating to a "hold" rating in a report on Thursday, February 29th. Six investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus price target of $5.56.

Beyond Meat Trading Up 11.3 %

The company's 50-day moving average is $7.51 and its two-hundred day moving average is $7.61. The stock has a market capitalization of $516.52 million, a P/E ratio of -1.54 and a beta of 2.42.

Beyond Meat (NASDAQ:BYND - Get Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.05). The firm had revenue of $75.60 million during the quarter, compared to analyst estimates of $75.24 million. During the same period in the previous year, the company posted ($0.92) EPS. The company's revenue for the quarter was down 18.0% on a year-over-year basis. Sell-side analysts expect that Beyond Meat, Inc. will post -2.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Compagnie Lombard Odier SCmA lifted its holdings in Beyond Meat by 16.3% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 25,000 shares of the company's stock worth $222,000 after purchasing an additional 3,500 shares during the period. Gotham Asset Management LLC raised its position in shares of Beyond Meat by 5.6% during the 3rd quarter. Gotham Asset Management LLC now owns 31,165 shares of the company's stock worth $300,000 after buying an additional 1,646 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Beyond Meat by 6.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 483,732 shares of the company's stock worth $4,654,000 after acquiring an additional 30,998 shares during the period. Sigma Planning Corp bought a new position in shares of Beyond Meat in the third quarter valued at approximately $98,000. Finally, Olympiad Research LP acquired a new position in shares of Beyond Meat during the third quarter valued at approximately $280,000. 52.48% of the stock is owned by institutional investors and hedge funds.

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.