Cultivated foodLab-grown meat

A gap of $32.44 has closed between Beyond Meat shares (NASDAQ:BYND) and competitors

Beyond Meat, Inc. (NASDAQ:BYND – Get Rating)’s stock price gapped down prior to trading on Thursday. The stock had previously closed at $32.44, but opened at $30.72. Beyond Meat shares last traded at $29.95, with a volume of 29,050 shares changing hands.

Analyst Upgrades and Downgrades

BYND has been the subject of a number of analyst reports. Piper Sandler decreased their price target on Beyond Meat from $29.00 to $12.00 in a report on Thursday, May 12th. Cowen decreased their price target on Beyond Meat from $42.00 to $26.00 in a report on Thursday, May 12th. Barclays downgraded Beyond Meat from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $80.00 to $25.00 in a report on Thursday, May 12th. BMO Capital Markets decreased their price target on Beyond Meat from $60.00 to $30.00 in a report on Thursday, May 12th.

Finally, Cowen decreased their price target on Beyond Meat from $42.00 to $26.00 in a report on Thursday, May 12th. Six investment analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $44.82.

Beyond Meat

Beyond Meat Price Performance

The company has a quick ratio of 6.27, a current ratio of 9.08 and a debt-to-equity ratio of 27.60. The stock has a market capitalization of $2.03 billion, a PE ratio of -7.94 and a beta of 1.64. The company has a 50-day moving average of $27.86 and a 200 day moving average of $40.74.

Beyond Meat (NASDAQ:BYND – Get Rating) last issued its quarterly earnings results on Wednesday, May 11th. The company reported ($1.58) EPS for the quarter, missing the consensus estimate of ($1.04) by ($0.54). Beyond Meat had a negative return on equity of 160.55% and a negative net margin of 54.79%. The firm had revenue of $109.46 million for the quarter, compared to analysts’ expectations of $111.66 million. During the same quarter in the previous year, the firm posted ($0.42) earnings per share. Sell-side analysts predict that Beyond Meat, Inc. will post -4.55 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. CarsonAllaria Wealth Management Ltd. purchased a new position in Beyond Meat during the fourth quarter worth about $28,000. Parallel Advisors LLC raised its stake in Beyond Meat by 110.3% during the first quarter. Parallel Advisors LLC now owns 614 shares of the company’s stock worth $30,000 after purchasing an additional 322 shares during the period.

Samalin Investment Counsel LLC raised its stake in Beyond Meat by 1,657.1% during the fourth quarter. Samalin Investment Counsel LLC now owns 615 shares of the company’s stock worth $40,000 after purchasing an additional 580 shares during the period. Candriam Luxembourg S.C.A. raised its stake in Beyond Meat by 60.0% during the fourth quarter.

Candriam Luxembourg S.C.A. now owns 800 shares of the company’s stock worth $822,000 after purchasing an additional 300 shares during the period. Finally, CWM LLC purchased a new position in Beyond Meat during the fourth quarter worth about $57,000. Institutional investors and hedge funds own 67.15% of the company’s stock.

Beyond Meat Company Profile

Beyond Meat, Inc 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 store, convenience store and natural retailer channels, and direct-to-consumer, as well as various food-away-from-home channels, including restaurants, foodservice outlets, and schools.

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