Beyond Meat, Inc. (NASDAQ:BYND) Given Consensus Recommendation of “Strong Sell” by Brokerages

Beyond Meat, Inc. (NASDAQ:BYND) has received an average rating of “Strong Sell” from the seven research firms that are currently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $23.50.

BYND has been the topic of a number of research analyst reports. Barclays reaffirmed an “underweight” rating and set a $10.00 target price (up from $0.50) on shares of Beyond Meat in a report on Monday, August 17th. Weiss Ratings reissued a “sell (d)” rating on shares of Beyond Meat in a report on Wednesday, July 8th. Wall Street Zen upgraded shares of Beyond Meat from a “strong sell” rating to a “sell” rating in a research report on Sunday, September 13th. Finally, Zacks Research raised shares of Beyond Meat from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BYND. Evolve Private Wealth LLC acquired a new stake in shares of Beyond Meat during the 1st quarter valued at $25,000. State of Wyoming acquired a new position in shares of Beyond Meat in the 1st quarter worth $27,000. Leonteq Securities AG acquired a new position in shares of Beyond Meat in the 4th quarter worth $33,000. Chicago Partners Investment Group LLC acquired a new stake in shares of Beyond Meat during the first quarter worth $29,000. Finally, Two Sigma Securities LLC raised its position in shares of Beyond Meat by 64.9% during the second quarter. Two Sigma Securities LLC now owns 51,002 shares of the company’s stock worth $38,000 after purchasing an additional 20,070 shares during the period. Institutional investors and hedge funds own 52.48% of the company’s stock.

Beyond Meat Price Performance

Shares of BYND traded up $0.21 during midday trading on Friday, reaching $11.91. The stock had a trading volume of 334,580 shares, compared to its average volume of 1,511,975. The company has a debt-to-equity ratio of 6.57, a current ratio of 2.63 and a quick ratio of 2.07. The company has a market capitalization of $204.75 million, a P/E ratio of -0.21 and a beta of 2.76. The firm’s 50 day moving average price is $14.63 and its 200-day moving average price is $19.82. Beyond Meat has a 52 week low of $9.81 and a 52 week high of $230.70.

About Beyond Meat

Beyond Meat, Inc develops, produces and markets plant-based meat alternatives designed to replicate the taste, texture and nutritional attributes of conventional animal-based meat. Its products are made primarily from plant-derived ingredients and are intended for consumers seeking alternatives to beef, pork and poultry.

The company’s product portfolio has included plant-based burgers, ground meat, sausages, meatballs, chicken-style tenders and nuggets, and other prepared meat alternatives.