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

Key Points

• Traders have purchased a total of 27,715 call options for Beyond Meat (NASDAQ:BYND), marking a 69% increase from its typical trading volume of 16,402 call options.
• Beyond Meat's stock price rose by 4.5% on Monday, closing at $2.80, despite its recent earnings report showing a revenue decline of 19.5% year-over-year.
• Analysts have issued a consensus rating of "Strong Sell" for Beyond Meat, with an average price target set at $3.00, following multiple downgrades from various financial institutions.

Beyond Meat, Inc. (NASDAQ:BYND - Get Free Report) was the target of unusually large options trading on Monday. Traders bought 27,715 call options on the company. This represents an increase of 69% compared to the typical volume of 16,402 call options.

Beyond Meat Stock Up 4.5%

NASDAQ BYND traded up $0.12 on Monday, hitting $2.80. The company's stock had a trading volume of 3,236,809 shares, compared to its average volume of 2,647,501. Beyond Meat has a 1-year low of $2.22 and a 1-year high of $7.60. The company's 50-day moving average is $2.96 and its 200 day moving average is $3.00. The firm has a market cap of $214.62 million, a PE ratio of -1.28 and a beta of 2.22.

Beyond Meat (NASDAQ:BYND - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.06). The firm had revenue of $74.96 million for the quarter, compared to analysts' expectations of $85.71 million. During the same period last year, the firm posted ($0.53) EPS. Beyond Meat's quarterly revenue was down 19.5% on a year-over-year basis. On average, equities analysts expect that Beyond Meat will post -2.1 EPS for the current year.

Institutional Investors Weigh In On Beyond Meat

Hedge funds have recently made changes to their positions in the business. Apollon Wealth Management LLC bought a new stake in Beyond Meat during the 1st quarter valued at about $31,000. Ameriprise Financial Inc. purchased a new stake in Beyond Meat in the 4th quarter valued at about $39,000. Pitcairn Co. purchased a new position in Beyond Meat in the second quarter valued at about $37,000. Rathbones Group PLC acquired a new stake in shares of Beyond Meat during the second quarter worth about $40,000. Finally, Chiron Capital Management LLC acquired a new position in Beyond Meat in the first quarter valued at approximately $38,000. 52.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on BYND shares. BMO Capital Markets lowered their target price on shares of Beyond Meat from $5.00 to $4.00 and set a "market perform" rating on the stock in a research report on Thursday, August 14th. JPMorgan Chase & Co. began coverage on shares of Beyond Meat in a research note on Wednesday, August 20th. They set an "underweight" rating for the company. Finally, Argus cut shares of Beyond Meat from a "hold" rating to a "sell" rating in a research note on Monday. One analyst has rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Strong Sell" and an average price target of $3.00.

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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