Beyond Meat, Inc. (NASDAQ:BYND) Receives Average Recommendation of “Reduce” from Analysts

Beyond Meat, Inc. (NASDAQ:BYND) has been assigned an average rating of “Reduce” from the six ratings firms that are currently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $5.50.

Separately, Barclays cut their target price on shares of Beyond Meat from $4.00 to $3.00 and set an “underweight” rating for the company in a report on Thursday.

Beyond Meat Trading Down 6.0 %

BYND traded down $0.22 during midday trading on Thursday, hitting $3.35. 2,190,933 shares of the company were exchanged, compared to its average volume of 3,431,268. The company’s 50 day simple moving average is $3.87 and its 200 day simple moving average is $5.14. The firm has a market capitalization of $218.10 million, a price-to-earnings ratio of -0.80 and a beta of 2.31. Beyond Meat has a 1-year low of $3.30 and a 1-year high of $12.12.

Beyond Meat (NASDAQ:BYND) last posted its earnings results on Wednesday, February 26th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.21). The company had revenue of $76.66 million during the quarter, compared to analysts’ expectations of $76.08 million. On average, equities analysts anticipate that Beyond Meat will post -2.1 EPS for the current year.

Insider Buying and Selling at Beyond Meat

In other Beyond Meat news, insider Ethan Brown sold 313,000 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $3.75, for a total transaction of $1,173,750.00. Following the transaction, the insider now directly owns 1,703,288 shares of the company’s stock, valued at $6,387,330. This trade represents a 15.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. ProShare Advisors LLC increased its stake in Beyond Meat by 49.1% during the 4th quarter. ProShare Advisors LLC now owns 16,825 shares of the company’s stock worth $63,000 after buying an additional 5,537 shares in the last quarter. Millennium Management LLC grew its stake in Beyond Meat by 73.8% during the 4th quarter. Millennium Management LLC now owns 619,957 shares of the company’s stock valued at $2,331,000 after acquiring an additional 263,337 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Beyond Meat by 17.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,685 shares of the company’s stock valued at $213,000 after purchasing an additional 8,561 shares during the last quarter. Deutsche Bank AG increased its position in shares of Beyond Meat by 58.8% during the 4th quarter. Deutsche Bank AG now owns 53,227 shares of the company’s stock worth $200,000 after purchasing an additional 19,708 shares during the last quarter. Finally, CoreCommodity Management LLC raised its holdings in Beyond Meat by 129.5% in the 4th quarter. CoreCommodity Management LLC now owns 171,226 shares of the company’s stock valued at $644,000 after buying an additional 96,602 shares during the period. Institutional investors and hedge funds own 52.48% of the company’s stock.

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.