Beyond Meat (NASDAQ:BYND) Stock Price Down 2.4% – Time to Sell?

Beyond Meat, Inc. (NASDAQ:BYND) fell 2.4% during mid-day trading on Friday . The stock traded as low as $4.00 and last traded at $4.08. 5,940,722 shares changed hands during mid-day trading, an increase of 61% from the average session volume of 3,701,016 shares. The stock had previously closed at $4.18.

Beyond Meat Stock Performance

The stock’s 50 day simple moving average is $4.28 and its 200 day simple moving average is $5.61.

Beyond Meat (NASDAQ:BYND) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.03. The company had revenue of $81.01 million for the quarter, compared to the consensus estimate of $80.13 million. During the same quarter last year, the company posted ($1.09) EPS. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, equities research analysts forecast that Beyond Meat, Inc. will post -2.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Ethan Brown sold 313,000 shares of Beyond Meat stock in a transaction on Friday, December 13th. The stock was sold at an average price of $3.75, for a total transaction of $1,173,750.00. Following the sale, the insider now directly owns 1,703,288 shares in the company, valued at $6,387,330. The trade was a 15.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.60% of the stock is owned by corporate insiders.

Institutional Trading of Beyond Meat

A number of large investors have recently added to or reduced their stakes in BYND. Charles Schwab Investment Management Inc. increased its stake in shares of Beyond Meat by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 522,894 shares of the company’s stock worth $3,545,000 after purchasing an additional 7,332 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in Beyond Meat by 42.7% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 625,396 shares of the company’s stock worth $4,240,000 after buying an additional 186,996 shares during the last quarter. Vontobel Holding Ltd. raised its stake in shares of Beyond Meat by 91.5% in the third quarter. Vontobel Holding Ltd. now owns 569,773 shares of the company’s stock valued at $3,863,000 after buying an additional 272,240 shares during the period. Susquehanna Fundamental Investments LLC lifted its position in shares of Beyond Meat by 93.3% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 210,612 shares of the company’s stock valued at $1,413,000 after buying an additional 101,652 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Beyond Meat by 17.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 26,469 shares of the company’s stock worth $178,000 after acquiring an additional 3,902 shares during the period. Hedge funds and other institutional investors own 52.48% of the company’s stock.

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.