Brokerages Set Beyond Meat, Inc. (NASDAQ:BYND) Target Price at $5.50

Beyond Meat, Inc. (NASDAQ:BYND) has earned a consensus rating of “Strong Sell” from the six brokerages that are presently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $4.92.

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

Insider Transactions at Beyond Meat

In other news, insider Ethan Brown sold 313,000 shares of Beyond Meat stock in a transaction that occurred 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 owns 1,703,288 shares of the company’s stock, valued at approximately $6,387,330. This trade represents a 15.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Beyond Meat

Hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. lifted its position in shares of Beyond Meat by 305.1% during the 4th quarter. Russell Investments Group Ltd. now owns 7,887 shares of the company’s stock worth $30,000 after buying an additional 5,940 shares during the period. KLP Kapitalforvaltning AS bought a new position in Beyond Meat in the 4th quarter valued at $37,000. Ameriprise Financial Inc. bought a new position in Beyond Meat in the 4th quarter valued at $39,000. Ballentine Partners LLC bought a new position in Beyond Meat in the 4th quarter valued at $39,000. Finally, Van ECK Associates Corp raised its position in Beyond Meat by 68.8% in the 4th quarter. Van ECK Associates Corp now owns 10,498 shares of the company’s stock valued at $39,000 after purchasing an additional 4,280 shares during the last quarter. Institutional investors own 52.48% of the company’s stock.

Beyond Meat Stock Performance

Shares of BYND stock opened at $3.21 on Thursday. The stock’s 50 day simple moving average is $3.84 and its 200 day simple moving average is $5.04. Beyond Meat has a twelve month low of $2.86 and a twelve month high of $10.31. The company has a market capitalization of $209.30 million, a price-to-earnings ratio of -0.77 and a beta of 2.36.

Beyond Meat (NASDAQ:BYND) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.21). The company had revenue of $76.66 million during the quarter, compared to analyst estimates of $76.08 million. On average, analysts forecast 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.