Brokerages Set Beyond Meat, Inc. (NASDAQ:BYND) PT at $4.92

Shares of Beyond Meat, Inc. (NASDAQ:BYND) have been given an average recommendation of “Strong Sell” by the six analysts that are covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $4.92.

A number of brokerages have issued reports on BYND. BMO Capital Markets decreased their price target on Beyond Meat from $6.00 to $5.00 and set a “market perform” rating for the company in a report on Thursday, February 27th. Barclays dropped their price target on shares of Beyond Meat from $4.00 to $3.00 and set an “underweight” rating on the stock in a research report on Thursday, February 27th.

Hedge Funds Weigh In On Beyond Meat

A number of large investors have recently added to or reduced their stakes in BYND. Perigon Wealth Management LLC lifted its stake in Beyond Meat by 25.9% in the 4th quarter. Perigon Wealth Management LLC now owns 14,530 shares of the company’s stock valued at $55,000 after buying an additional 2,986 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Beyond Meat by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 527,056 shares of the company’s stock worth $1,982,000 after buying an additional 4,162 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Beyond Meat by 68.8% during the fourth quarter. Van ECK Associates Corp now owns 10,498 shares of the company’s stock valued at $39,000 after acquiring an additional 4,280 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Beyond Meat by 16.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,901 shares of the company’s stock valued at $257,000 after acquiring an additional 5,419 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in shares of Beyond Meat by 49.1% in the fourth quarter. ProShare Advisors LLC now owns 16,825 shares of the company’s stock worth $63,000 after acquiring an additional 5,537 shares during the last quarter. 52.48% of the stock is currently owned by institutional investors and hedge funds.

Beyond Meat Price Performance

NASDAQ:BYND opened at $3.14 on Monday. The company’s fifty day moving average price is $3.67 and its 200-day moving average price is $4.70. Beyond Meat has a 1-year low of $2.86 and a 1-year high of $10.31. The firm has a market capitalization of $239.05 million, a P/E ratio of -0.75 and a beta of 2.36.

Beyond Meat (NASDAQ:BYND) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.65) earnings per share 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 the consensus estimate of $76.08 million. Equities analysts anticipate that Beyond Meat will post -2.1 EPS for the current fiscal year.

About Beyond Meat

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.