Beyond Meat Inc. (NASDAQ:BYND) shares traded 3.53% higher at $16.15 on Wall Street last session.
BYND stock price is now 14.40% away from the 50-day moving average and -42.85% away from the 200-day moving average. The market capitalization of the company currently stands at $1.03B.
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With the price target reduced from $13 to $10, Barclays Downgraded its rating from Equal Weight to Underweight for Beyond Meat Inc. (NASDAQ: BYND). On November 23, 2022, Goldman reiterated its ‘Sell’ rating on the stock by increasing its target price from $14 to quote $5, while ‘Piper Sandler’ rates the stock as ‘Underweight’.
In other news, Moskowitz Beth, Chief Brand Officer sold 5,000 shares of the company’s stock on Dec 02. The stock was sold for $70,388 at an average price of $14.08. Upon completion of the transaction, the Chief Brand Officer now directly owns 19,179 shares in the company, valued at $0.31 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 02, Chief Brand Officer Moskowitz Beth sold 2,000 shares of the business’s stock. A total of $28,099 was realized by selling the stock at an average price of $14.05. This leaves the insider owning 20,208 shares of the company worth $0.33 million. Insiders disposed of 360,245 shares of company stock worth roughly $5.82 million over the past 1 year. A total of 1.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in BYND stock. A new stake in Beyond Meat Inc. shares was purchased by OCCUDO QUANTITATIVE STRATEGIES LP during the first quarter worth $3,207,000. WEISS MULTI-STRATEGY ADVISERS LLC invested $3,099,000 in shares of BYND during the first quarter. In the first quarter, WOLVERINE ASSET MANAGEMENT LLC acquired a new stake in Beyond Meat Inc. valued at approximately $2,590,000. CORECOMMODITY MANAGEMENT, LLC acquired a new stake in BYND for approximately $1,907,000. MARSHALL WACE, LLP purchased a new stake in BYND valued at around $1,248,000 in the second quarter. In total, there are 407 active investors with 43.20% ownership of the company’s stock.
Beyond Meat Inc. (NASDAQ: BYND) opened at $15.50 on Thursday. During the past 12 months, Beyond Meat Inc. has had a low of $11.56 and a high of $75.49. The fifty day moving average price for BYND is $14.12 and a two-hundred day moving average price translates $28.26 for the stock.
The latest earnings results from Beyond Meat Inc. (NASDAQ: BYND) was released for Jul, 2022. According to the Packaged Foods Company, earnings per share came in at -$1.53, missing analysts’ expectations of -$1.18 by -0.35. This compares to -$0.87 EPS in the same period last year. The company reported revenue of $82.5 million for the quarter, compared to $106.43 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -22.49 percent. For the current quarter, analysts expect BYND to generate $98.11M in revenue.
Beyond Meat Inc.(BYND) Company Profile
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 across the platforms of beef, pork, and poultry. It sells its products through grocery, mass merchandiser, club store, convenience store and natural retailer channels, and direct-to-consumer, as well as various food-away-from-home channels, including restaurants, foodservice outlets, and schools. The company was formerly known as Savage River, Inc. and changed its name to Beyond Meat, Inc. in September 2018. Beyond Meat, Inc. was founded in 2009 and is headquartered in El Segundo, California.
