Beyond Meat (NASDAQ: BYND – GET RATINGS) cut its target price from $12.00 to $9.00 by investment analysts Piper Sandler in a research report published Tuesday, reports The Fly. Piper Sandler’s price target would suggest a potential drop of 65.49% from the company’s previous close.
Several other analysts also recently commented on BYND. Bank of America lowered its target price on Beyond Meat to $10.00 from $20.00 and gave the company an underperform rating in a report on Friday, August. neutral” rating in a report on Monday, August 8th. UBS Group raised its target price on Beyond Meat to $30.00 from $20.00 and gave the stock a “neutral” rating in a report on Friday, August. Barclays raised its price target on Beyond Meat to $30.00 from $25.00 and gave the stock a “break even” rating in a report Monday, August 8. Finally, Cowen lowered its price target on Beyond Meat to $26.00 from $42.00 in a report on Thursday, May. Six analysts have rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. Based on data from MarketBeat.com, Beyond Meat has a consensus rating of Hold and a consensus price target of $42.18.
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NASDAQ:BYND fell $0.98 to $26.08 in Tuesday afternoon trade. 2,460,198 shares of the stock were exchanged at an average volume of 3,600,817 shares. The company’s 50-day simple moving average is $30.81 and its 200-day simple moving average is $37.23. The stock has a market cap of $1.66 billion, a P/E of -4.97 and a beta of 1.80. The company has a quick ratio of 5.16, a current ratio of 7.48 and a debt to equity ratio of 27.60. Beyond Meat’s 1-year low is $20.50 and its 1-year high is $124.45.
Beyond Meat (NASDAQ:BYND – GET RATINGS) last released its quarterly earnings results on Thursday, August. The company reported earnings per share ($1.53) for the quarter, ahead of analyst consensus estimate ($1.18) ($0.35). Beyond Meat had a negative return on equity of 400.17 percent and a negative net margin of 71.78 percent. The company had revenue of $147.00 million for the quarter, compared to analyst estimates of $149.08 million. In the same period last year, the company reported earnings per share ($0.31). The company’s sales declined 1.6% compared to the prior-year quarter. Analysts expect Beyond Meat to post earnings per share of -5.26 for the current fiscal year.
Buying and Selling Insiders at Beyond Meat
In other Beyond Meat news, insider Beth Moskowitz sold 773 shares of the trading stock in a transaction on Monday, August. The shares sold at an average price of $42.70 for a total transaction of $33,007.10. Following the sale, the insider now directly owns 24,358 shares of the company’s stock valued at approximately $1,040,086.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC’s website. Company insiders own 7.90% of the company’s shares.
Hedge funds wait beyond meat
The hedge fund recently revised its holdings in the stock. Cambridge Investment Research Advisors Inc increased its position in Beyond Meat by 12.6% in the fourth quarter. After purchasing an additional 1,797 shares during the previous quarter, Cambridge Investment Research Advisors Inc. now owns 16,086 shares representing $1,048,000 of the Company’s stock. Northern Trust Corp increased its position in Beyond Meat by 0.9% in the fourth quarter. Northern Trust Corp now owns 260,125 shares of the company, valued at $16,950,000, having purchased an additional 2,231 shares in the previous quarter. Handelsbanken Fonder AB increased its position in Beyond Meat by 16.0% in the fourth quarter. After purchasing an additional 1,300 shares in the previous quarter, Handelsbanken Fonder AB now holds 9,400 shares of the company, valued at $613,000. The Florida Retirement System State Board of Administration increased its position in Beyond Meet by 0.9% in the fourth quarter. The State Board of Administration of the Florida Retirement System now owns 68,955 shares of the company’s stock valued at $4,493,000 after purchasing an additional 586 shares in the previous quarter. Finally, Raymond James & Associates increased its position in Beyond Meat by 15.0% during the fourth quarter. After purchasing an additional 1,951 shares in the previous quarter, Raymond James & Associates now owns 14,919 shares of the company for $972,000. 67.15% of the shares are owned by institutional investors and hedge funds.
Company profile of Beyond Meat
Beyond Meat, Inc. manufactures, markets, and sells plant-based meat products in the United States and internationally. The Company sells a range of plant-based meat products on the Beef, Pork and Poultry platform. It sells its products through various food-at-home channels, including grocery stores, wholesalers, club shops, convenience stores, and natural retail channels, as well as direct to consumers, including restaurants, food service establishments, and schools. Are included.
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