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
BYND Stock traded down $0.28 during trading on Thursday, hitting $36.66. 3,773,736 shares of the stock traded hands, compared to its average volume of 3,645,429. Beyond Meat has a one year low of $20.50 and a one year high of $125.49. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of -7.83 and a beta of 1.80. The company has a 50 day simple moving average of $29.33 and a 200 day simple moving average of $39.08. The company has a current ratio of 9.08, a quick ratio of 6.27 and a debt-to-equity ratio of 27.60.
Beyond Meat (NASDAQ:BYND - Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported ($1.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.18) by ($0.35). The firm had revenue of $147.00 million for the quarter, compared to the consensus estimate of $149.08 million. Beyond Meat had a negative net margin of 71.78% and a negative return on equity of 262.32%. The company's revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.31) earnings per share. Equities analysts expect that Beyond Meat will post -4.86 EPS for the current fiscal year.
Wall Street Analyst Weigh In
BYND has been the subject of a number of research reports. Mizuho increased their price target on shares of Beyond Meat from $21.00 to $27.00 and gave the company a "neutral" rating in a report on Monday. BMO Capital Markets reduced their price target on shares of Beyond Meat from $60.00 to $30.00 in a report on Thursday, May 12th. Bank of America reduced their price objective on shares of Beyond Meat from $20.00 to $10.00 and set an "underperform" rating for the company in a report on Friday, August 5th. Cowen reduced their price objective on shares of Beyond Meat from $42.00 to $26.00 in a report on Thursday, May 12th. Finally, UBS Group raised their price objective on shares of Beyond Meat from $20.00 to $30.00 and gave the stock a "neutral" rating in a report 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. Based on data from MarketBeat.com, Beyond Meat presently has a consensus rating of "Hold" and a consensus price target of $42.35.
Insider Buying and Selling at Beyond Meat
In other Beyond Meat news, insider Beth Moskowitz sold 2,000 shares of the firm's stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $37.51, for a total value of $75,020.00. Following the completion of the sale, the insider now owns 22,358 shares in the company, valued at approximately $838,648.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 7.90% of the company's stock.