Beyond Meat Sees Unusually Large Options Volume (NASDAQ:BYND)

Key Points

• Beyond Meat saw a significant increase in options trading with investors purchasing 28,653 put options, a 97% rise compared to average volumes.
• The company's stock fell by 3.8% to $3.71, with a market cap of $283.32 million and a P/E ratio of -1.63.
• Beyond Meat reported a quarterly loss of ($0.67) EPS, missing estimates and showing a 9.1% decline in revenue year-over-year.
• Analysts from Barclays lowered their price target for Beyond Meat's shares from $3.00 to $2.00, maintaining an "underweight" rating.

Beyond Meat, Inc. (NASDAQ:BYND - Get Free Report) saw some unusual options trading activity on Friday. Stock traders bought 28,653 put options on the company. This represents an increase of approximately 97% compared to the typical volume of 14,548 put options.

Analyst Ratings Changes

Separately, Barclays cut their price objective on shares of Beyond Meat from $3.00 to $2.00 and set an "underweight" rating for the company in a report on Thursday, May 8th.

Beyond Meat Stock Performance

Shares of Beyond Meat stock traded down $0.09 during trading hours on Tuesday, hitting $3.31. The company's stock had a trading volume of 964,877 shares, compared to its average volume of 2,751,032. Beyond Meat has a twelve month low of $2.22 and a twelve month high of $9.24. The firm has a fifty day moving average of $3.38 and a 200-day moving average of $3.31. The stock has a market cap of $252.74 million, a price-to-earnings ratio of -1.45 and a beta of 2.19.

Beyond Meat (NASDAQ:BYND - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.67) earnings per share for the quarter, missing analysts' consensus estimates of ($0.52) by ($0.15). The company's revenue was down 9.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.84) EPS. On average, sell-side analysts expect that Beyond Meat will post -2.1 earnings per share for the current fiscal year.

Institutional Trading of Beyond Meat

A number of large investors have recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Beyond Meat during the second quarter worth $45,000. Vontobel Holding Ltd. grew its stake in shares of Beyond Meat by 20.2% during the second quarter. Vontobel Holding Ltd. now owns 2,113,869 shares of the company's stock worth $7,377,000 after purchasing an additional 354,965 shares in the last quarter. GC Wealth Management RIA LLC acquired a new position in shares of Beyond Meat during the second quarter worth $49,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Beyond Meat by 28.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 72,729 shares of the company's stock worth $222,000 after purchasing an additional 16,044 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new position in Beyond Meat in the first quarter valued at $590,000. Hedge funds and other institutional investors own 52.48% of the company's stock.

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.