Van ECK Associates Corp Cuts Position in Beyond Meat, Inc. (NASDAQ:BYND)

Van ECK Associates Corp decreased its stake in Beyond Meat, Inc. (NASDAQ:BYND - Free Report) by 95.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,361 shares of the company's stock after selling 184,161 shares during the quarter. Van ECK Associates Corp's holdings in Beyond Meat were worth $83,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its stake in Beyond Meat by 6.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 483,732 shares of the company's stock valued at $4,654,000 after acquiring an additional 30,998 shares during the last quarter. Mizuho Markets Americas LLC acquired a new position in shares of Beyond Meat in the third quarter valued at approximately $287,000. Olympiad Research LP bought a new stake in shares of Beyond Meat in the third quarter valued at about $280,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Beyond Meat by 63.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,222 shares of the company's stock valued at $545,000 after purchasing an additional 23,770 shares during the period. Finally, Raymond James & Associates acquired a new stake in Beyond Meat during the fourth quarter worth approximately $209,000. 52.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Mizuho dropped 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. TD Cowen decreased their price target on shares of Beyond Meat from $10.00 to $6.00 and set a "sell" rating for the company in a research note on Wednesday, April 17th. Canaccord Genuity Group reduced their target price on Beyond Meat from $9.00 to $7.00 and set a "hold" rating on the stock in a research note on Friday. BMO Capital Markets lowered their price objective on Beyond Meat from $10.00 to $9.00 and set a "market perform" rating for the company in a research report on Thursday, May 9th. Finally, Argus upgraded Beyond Meat from a "sell" rating to a "hold" rating in a research report on Thursday, February 29th. Six equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus price target of $5.56.

Beyond Meat Price Performance

BYND stock traded up $0.05 during midday trading on Tuesday, hitting $8.01. The stock had a trading volume of 21,651,548 shares, compared to its average volume of 3,378,201. The business has a 50-day moving average of $7.50 and a two-hundred day moving average of $7.62. The firm has a market cap of $519.73 million, a price-to-earnings ratio of -1.55 and a beta of 2.42. Beyond Meat, Inc. 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 data on Wednesday, May 8th. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.05). The company had revenue of $75.60 million for the quarter, compared to analyst estimates of $75.24 million. Beyond Meat's quarterly revenue was down 18.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.92) earnings per share. Research analysts predict that Beyond Meat, Inc. will post -2.13 earnings per share for the current year.

Beyond Meat 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.