Beyond Meat, Inc. 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 store, convenience store and natural retailer channels, and direct-to-consumer, as well as various food-away-from-home channels, including restaurants, foodservice outlets, and schools. The company was formerly known as Savage River, Inc. and changed its name to Beyond Meat, Inc. in September 2018. Beyond Meat, Inc. was founded in 2009 and is headquartered in El Segundo, California.
Beyond Meat Price Performance
NASDAQ:BYND traded up $0.13 during midday trading on Tuesday, hitting $35.83. The company had a trading volume of 3,828,322 shares, compared to its average volume of 3,628,076. The firm has a 50-day moving average price of $29.96 and a 200-day moving average price of $38.31. The company has a market capitalization of $2.28 billion, a PE ratio of -6.86 and a beta of 1.80. The company has a current ratio of 7.48, a quick ratio of 5.16 and a debt-to-equity ratio of 27.60. Beyond Meat has a twelve month low of $20.50 and a twelve month high of $124.45.
Beyond Meat (NASDAQ:BYND - Get Rating) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($1.53) EPS for the quarter, missing analysts' consensus estimates of ($1.18) by ($0.35). The company had revenue of $147.00 million during the quarter, compared to analyst estimates of $149.08 million. Beyond Meat had a negative net margin of 71.78% and a negative return on equity of 400.17%. The firm's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.31) EPS. As a group, analysts anticipate that Beyond Meat will post -4.86 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on BYND. BMO Capital Markets decreased their price objective on shares of Beyond Meat from $60.00 to $30.00 in a research report on Thursday, May 12th. Cowen reduced their price target on Beyond Meat from $42.00 to $26.00 in a report on Thursday, May 12th. UBS Group upped their price objective on Beyond Meat from $20.00 to $30.00 and gave the company a "neutral" rating in a research note on Friday, August 5th. Barclays lifted their target price on Beyond Meat from $25.00 to $30.00 and gave the stock an "equal weight" rating in a research note on Monday, August 8th. Finally, Bank of America dropped their price target on Beyond Meat from $20.00 to $10.00 and set an "underperform" rating on the stock in a research note on Friday, August 5th. Six equities research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. According to data from MarketBeat, Beyond Meat has an average rating of "Hold" and a consensus price target of $42.35.
Insider Activity
In related news, insider Beth Moskowitz sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $37.51, for a total transaction of $75,020.00. Following the sale, the insider now owns 22,358 shares in the company, valued at approximately $838,648.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 7.90% of the company's stock.