Beyond Meat (NASDAQ:BYND) Price Target Lowered to $1.00 at BMO Capital Markets
by Kim Johansen · The Markets DailyBeyond Meat (NASDAQ:BYND – Get Free Report) had its target price lowered by stock analysts at BMO Capital Markets from $4.00 to $1.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price objective would indicate a potential upside of 56.99% from the company’s current price.
Several other equities research analysts also recently commented on BYND. Barclays reduced their target price on shares of Beyond Meat from $1.00 to $0.50 and set an “underweight” rating on the stock in a research note on Thursday. Weiss Ratings restated a “sell (e+)” rating on shares of Beyond Meat in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Strong Sell” and an average target price of $0.83.
View Our Latest Report on Beyond Meat
Beyond Meat Stock Performance
Shares of Beyond Meat stock traded up $0.04 on Monday, reaching $0.64. The stock had a trading volume of 5,903,428 shares, compared to its average volume of 37,131,258. The stock has a market cap of $288.99 million, a P/E ratio of -0.22 and a beta of 2.67. The business’s 50-day moving average price is $0.74 and its two-hundred day moving average price is $1.18. Beyond Meat has a fifty-two week low of $0.50 and a fifty-two week high of $7.69.
Beyond Meat (NASDAQ:BYND – Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.17). The firm had revenue of $61.59 million for the quarter, compared to the consensus estimate of $63.00 million. As a group, equities analysts forecast that Beyond Meat will post -2.1 earnings per share for the current fiscal year.
Institutional Trading of Beyond Meat
Hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC acquired a new position in Beyond Meat in the 1st quarter valued at $590,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Beyond Meat by 28.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 72,729 shares of the company’s stock valued at $222,000 after acquiring an additional 16,044 shares in the last quarter. Envestnet Asset Management Inc. bought a new position in Beyond Meat in the 2nd quarter valued at about $70,000. Geode Capital Management LLC increased its stake in Beyond Meat by 15.7% in the second quarter. Geode Capital Management LLC now owns 1,843,998 shares of the company’s stock valued at $6,437,000 after acquiring an additional 250,628 shares during the last quarter. Finally, Cetera Investment Advisers increased its stake in shares of Beyond Meat by 66.4% in the 2nd quarter. Cetera Investment Advisers now owns 27,378 shares of the company’s stock valued at $96,000 after purchasing an additional 10,924 shares during the last quarter. 52.48% of the stock is owned by institutional investors and hedge funds.
About Beyond Meat
Beyond Meat, Inc (NASDAQ: BYND) develops, manufactures and sells plant-based meat substitutes designed to replicate the taste, texture and appearance of animal-based proteins. Since its founding in 2009 by Ethan Brown and initial public offering in 2019, the company has focused on leveraging proprietary technology and ingredient blends to produce a suite of products that cater to both retail and foodservice channels. Beyond Meat’s mission centers on offering more sustainable protein options by reducing reliance on livestock farming and its associated environmental footprint.
The company’s product portfolio includes Beyond Burger, Beyond Sausage, Beyond Beef and Beyond Chicken, each formulated to appeal to a broad range of consumers seeking meat alternatives without compromising on flavor or cooking versatility.