Beyond Meat (NASDAQ:BYND) Stock Price Up 5.7%

Beyond Meat, Inc. (NASDAQ:BYND) shares rose 5.7% during trading on Thursday . The company traded as high as $72.57 and last traded at $71.50. Approximately 59,610 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 4,005,258 shares. The stock had previously closed at $67.62.

BYND has been the topic of a number of research analyst reports. Sanford C. Bernstein cut Beyond Meat from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $130.00 to $100.00 in a research note on Thursday, November 11th. Zacks Investment Research raised Beyond Meat from a “strong sell” rating to a “hold” rating in a research note on Tuesday. reduced their price objective on Beyond Meat from $100.00 to $80.00 and set a “hold” rating on the stock in a research note on Thursday, November 11th. Barclays reduced their price objective on Beyond Meat from $90.00 to $80.00 and set an “underweight” rating on the stock in a research note on Monday, October 25th. Finally, Piper Sandler upgraded shares of Beyond Meat from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $61.00 to $64.00 in a report on Monday, December 13th. Eight equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Beyond Meat presently has an average rating of “Hold” and an average price target of $92.19.

The stock’s 50 day simple moving average is $72.57 and its two-hundred day simple moving average is $102.40. The company has a current ratio of 15.52, a quick ratio of 12.92 and a debt-to-equity ratio of 5.45.

Beyond Meat (NASDAQ:BYND) last announced its earnings results on Wednesday, November 10th. The company reported ($0.87) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.39) by ($0.48). Beyond Meat had a negative net margin of 27.22% and a negative return on equity of 44.64%. The business had revenue of $106.43 million for the quarter, compared to the consensus estimate of $106.13 million. During the same period in the prior year, the business posted ($0.28) EPS. On average, equities research analysts expect that Beyond Meat, Inc. will post -2.31 EPS for the current fiscal year.

In related news, insider Teri L. Witteman sold 7,880 shares of the firm’s stock in a transaction that occurred on Friday, December 10th. The shares were sold at an average price of $64.26, for a total transaction of $506,368.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.90% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of BYND. Ninety One UK Ltd bought a new stake in Beyond Meat in the 3rd quarter worth approximately $74,665,000. Morgan Stanley grew its position in Beyond Meat by 126.8% in the 3rd quarter. Morgan Stanley now owns 967,736 shares of the company’s stock worth $101,866,000 after purchasing an additional 541,118 shares during the period. Vanguard Group Inc. grew its position in Beyond Meat by 13.2% in the 2nd quarter. Vanguard Group Inc. now owns 4,456,953 shares of the company’s stock worth $701,926,000 after purchasing an additional 519,411 shares during the period. SG Americas Securities LLC grew its position in Beyond Meat by 4,991.8% in the 2nd quarter. SG Americas Securities LLC now owns 248,326 shares of the company’s stock worth $39,109,000 after purchasing an additional 243,449 shares during the period. Finally, BlackRock Inc. boosted its stake in shares of Beyond Meat by 10.4% during the 3rd quarter. BlackRock Inc. now owns 2,459,588 shares of the company’s stock worth $258,896,000 after acquiring an additional 231,029 shares during the last quarter. 59.04% of the stock is owned by institutional investors and hedge funds.

Beyond Meat Company Profile (NASDAQ:BYND)

Beyond Meat, Inc engages in the provision of plant-based meats. Its products include ready-to-cook meat under the brands The Beyond Burger and Beyond Sausage; and frozen meat namely Beyond Chicken Strips and Beyond Beef Crumbles. The company was founded by Ethan Walden Brown and Brent Taylor in 2009 and is headquartered in El Segundo, CA.

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