Beyond Meat (NASDAQ:BYND) Shares Up 6.5%

Beyond Meat (NASDAQ:BYND)’s stock price shot up 6.5% during trading on Thursday . The company traded as high as $174.24 and last traded at $174.20, 5,418,035 shares changed hands during trading. A decline of 40% from the average session volume of 9,003,781 shares. The stock had previously closed at $163.51.

Several analysts have issued reports on BYND shares. Bank of America set a $80.00 target price on shares of Canopy Growth and gave the company a “buy” rating in a research note on Friday, June 7th. Consumer Edge started coverage on shares of Beyond Meat in a research note on Monday, May 20th. They set an “equal weight” rating and a $89.35 target price on the stock. Credit Suisse Group raised shares of Laredo Petroleum from an “underperform” rating to a “neutral” rating and set a $2.83 target price on the stock in a research note on Tuesday. They noted that the move was a valuation call. Sanford C. Bernstein set a €25.00 ($29.07) target price on shares of Deutsche Lufthansa and gave the company a “buy” rating in a research note on Wednesday, June 12th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of Intel in a research note on Tuesday, June 11th. Eight investment analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and a consensus price target of $104.48.

The firm has a 50 day simple moving average of $135.37.



Beyond Meat (NASDAQ:BYND) last posted its quarterly earnings results on Thursday, June 6th. The company reported ($0.14) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.14). The company had revenue of $40.20 million during the quarter, compared to analyst estimates of $38.93 million. The firm’s revenue was up 214.1% compared to the same quarter last year. On average, analysts forecast that Beyond Meat will post -0.26 EPS for the current fiscal year.

In related news, Director Raymond J. Lane purchased 29,442 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were acquired at an average cost of $25.00 per share, with a total value of $736,050.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Dariush Ajami purchased 2,000 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was bought at an average cost of $25.00 per share, for a total transaction of $50,000.00. The disclosure for this purchase can be found here.

About Beyond Meat (NASDAQ:BYND)

Beyond Meat, Inc, a food company, manufactures, markets, and sells plant-based meat products in the United States and internationally. The company sells its products under the Beyond Beef, Beyond Chicken, The Beyond Burger, Beyond Meat, Beyond Sausage, Eat What You Love, and The Cookout Classic brand names.

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