Weiss Ratings Reaffirms Sell (E+) Rating for Beyond Meat (NASDAQ:BYND)

Key Points

• Weiss Ratings has reaffirmed a "sell (E+)" rating for Beyond Meat (NASDAQ:BYND), reflecting ongoing concerns among analysts about the company's performance.
• BMO Capital Markets has lowered its price target for Beyond Meat from $5.00 to $4.00, with a "market perform" rating, while the stock currently has an average consensus price target of $3.00.
• Beyond Meat's stock recently traded down 4.6%, hitting $2.08, with the company reporting a significant revenue decline of 19.5% year-over-year.

Beyond Meat (NASDAQ:BYND - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Several other research firms also recently weighed in on BYND. BMO Capital Markets dropped their price target on Beyond Meat from $5.00 to $4.00 and set a "market perform" rating for the company in a research report on Thursday, August 14th. BTIG Research reissued a "neutral" rating on shares of Beyond Meat in a research report on Tuesday, September 30th. Argus lowered shares of Beyond Meat from a "hold" rating to a "sell" rating in a report on Monday, September 15th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Beyond Meat in a research note on Wednesday, August 20th. They set an "underweight" rating on the stock. Two analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Strong Sell" and a consensus price target of $3.00.

Beyond Meat Trading Down 4.6%

BYND stock traded down $0.10 during trading on Wednesday, hitting $2.08. 6,816,086 shares of the company's stock were exchanged, compared to its average volume of 3,256,078. The business has a 50-day moving average price of $2.59 and a two-hundred day moving average price of $2.91. Beyond Meat has a 52-week low of $1.23 and a 52-week high of $6.81. The stock has a market capitalization of $159.64 million, a price-to-earnings ratio of -0.95 and a beta of 2.33.

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

Institutional Investors Weigh In On Beyond Meat

Institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its stake in shares of Beyond Meat by 22.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,047 shares of the company's stock worth $98,000 after acquiring an additional 5,143 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Beyond Meat by 8.3% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,749 shares of the company's stock worth $275,000 after purchasing an additional 6,020 shares in the last quarter. Intech Investment Management LLC raised its stake in shares of Beyond Meat by 17.3% in the 2nd quarter. Intech Investment Management LLC now owns 44,984 shares of the company's stock valued at $157,000 after buying an additional 6,629 shares in the last quarter. Police & Firemen s Retirement System of New Jersey raised its position in Beyond Meat by 68.2% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 20,598 shares of the company's stock worth $72,000 after purchasing an additional 8,355 shares in the last quarter. Finally, Apollon Wealth Management LLC bought a new stake in shares of Beyond Meat in the 1st quarter valued at approximately $31,000. 52.48% of the stock is currently 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.

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