Wealthfront Advisers LLC Buys New Position in Beyond Meat, Inc. (NASDAQ:BYND)

Wealthfront Advisers LLC purchased a new position in shares of Beyond Meat, Inc. (NASDAQ:BYND) during the 4th quarter, Holdings Channel.com reports. The fund purchased 10,627 shares of the company’s stock, valued at approximately $40,000.

Other large investors have also recently made changes to their positions in the company. Ballentine Partners LLC purchased a new position in shares of Beyond Meat during the fourth quarter worth approximately $39,000. Van ECK Associates Corp raised its stake in shares of Beyond Meat by 68.8% during the fourth quarter. Van ECK Associates Corp now owns 10,498 shares of the company’s stock worth $39,000 after acquiring an additional 4,280 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Beyond Meat during the fourth quarter worth approximately $49,000. Perigon Wealth Management LLC raised its stake in shares of Beyond Meat by 25.9% during the fourth quarter. Perigon Wealth Management LLC now owns 14,530 shares of the company’s stock worth $55,000 after acquiring an additional 2,986 shares in the last quarter. Finally, Versor Investments LP purchased a new position in shares of Beyond Meat during the fourth quarter worth approximately $85,000. 52.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BYND. BMO Capital Markets cut their target price on shares of Beyond Meat from $6.00 to $5.00 and set a “market perform” rating on the stock in a report on Thursday, February 27th. Barclays cut their target price on shares of Beyond Meat from $4.00 to $3.00 and set an “underweight” rating on the stock in a report on Thursday, February 27th. Four analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Based on data from MarketBeat, Beyond Meat has an average rating of “Reduce” and a consensus price target of $4.92.

Beyond Meat Stock Up 0.3 %

NASDAQ:BYND opened at $3.53 on Wednesday. The stock has a market cap of $268.74 million, a P/E ratio of -0.84 and a beta of 2.36. The firm’s fifty day simple moving average is $3.74 and its 200 day simple moving average is $4.85. Beyond Meat, Inc. has a twelve month low of $2.86 and a twelve month high of $10.31.

Beyond Meat (NASDAQ:BYND) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.21). The company had revenue of $76.66 million for the quarter, compared to analyst estimates of $76.08 million. On average, analysts expect that Beyond Meat, Inc. will post -2.1 EPS for the current fiscal year.

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.