BMO Capital Markets Cuts Beyond Meat (NASDAQ:BYND) Price Target to $5.00

Beyond Meat (NASDAQ:BYND) had its price objective lowered by BMO Capital Markets from $6.00 to $5.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ price objective suggests a potential upside of 58.23% from the stock’s current price.

Separately, Barclays decreased their target price on shares of Beyond Meat from $4.00 to $3.00 and set an “underweight” rating for the company in a research report on Thursday. Four investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $4.92.

Beyond Meat Price Performance

BYND stock opened at $3.16 on Thursday. The stock has a market capitalization of $206.04 million, a P/E ratio of -0.76 and a beta of 2.31. Beyond Meat has a fifty-two week low of $3.10 and a fifty-two week high of $11.70. The business has a 50-day moving average of $3.86 and a 200-day moving average of $5.11.

Beyond Meat (NASDAQ:BYND) last released 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 business had revenue of $76.66 million during the quarter, compared to analysts’ expectations of $76.08 million. Equities analysts expect that Beyond Meat will post -2.1 EPS for the current year.

Insider Activity at Beyond Meat

In other news, insider Ethan Brown sold 313,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $3.75, for a total value of $1,173,750.00. Following the sale, the insider now directly owns 1,703,288 shares of the company’s stock, valued at approximately $6,387,330. This represents a 15.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.60% of the stock is owned by company insiders.

Institutional Trading of Beyond Meat

Institutional investors and hedge funds have recently bought and sold shares of the business. Vontobel Holding Ltd. boosted its stake in shares of Beyond Meat by 128.7% during the 4th quarter. Vontobel Holding Ltd. now owns 1,302,941 shares of the company’s stock worth $4,899,000 after acquiring an additional 733,168 shares during the period. Zweig DiMenna Associates LLC bought a new position in shares of Beyond Meat in the fourth quarter valued at about $1,746,000. Millennium Management LLC raised its position in shares of Beyond Meat by 73.8% in the fourth quarter. Millennium Management LLC now owns 619,957 shares of the company’s stock valued at $2,331,000 after purchasing an additional 263,337 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Beyond Meat during the 4th quarter worth about $796,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Beyond Meat during the 4th quarter worth about $382,000. Institutional investors 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.