Beyond Meat Inc. (NASDAQ:BYND) shares traded -9.11% lower at $15.46 on Wall Street last session.
In accordance with the data, 16 analysts cover Beyond Meat Inc. (NASDAQ:BYND). The consensus rating among analysts is ‘Underweight’. As we calculate the median target price by taking the range between a high of $14.00 and a low of $5.00, we find $12.00. Given the previous closing price of $17.01, this indicates a potential downside of -29.45 percent. BYND stock price is now 22.19% away from the 50-day moving average and 7.05% away from the 200-day moving average. The market capitalization of the company currently stands at $1.03B.
It has been rated a hold by 10 analysts and a buy by 0. Brokers who have rated the stock have averaged $10.27 as their price target over the next twelve months.
In other news, Ajami Dariush, Chief Innovation Officer sold 27,690 shares of the company’s stock on Dec 14. The stock was sold for $405,772 at an average price of $14.65. Upon completion of the transaction, the Chief Innovation Officer now directly owns 78,774 shares in the company, valued at $1.22 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 13, CFO, Treasurer KUTUA LUBI sold 15,139 shares of the business’s stock. A total of $217,682 was realized by selling the stock at an average price of $14.38. This leaves the insider owning 58,687 shares of the company worth $0.91 million. Insiders disposed of 164,163 shares of company stock worth roughly $2.54 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 COATUE MANAGEMENT LLC during the first quarter worth $7,585,000. BALYASNY ASSET MANAGEMENT L.P. invested $4,675,000 in shares of BYND during the first quarter. In the first quarter, D. E. SHAW & CO., INC. acquired a new stake in Beyond Meat Inc. valued at approximately $1,949,000. CTC LLC acquired a new stake in BYND for approximately $1,734,000. BAYESIAN CAPITAL MANAGEMENT, LP purchased a new stake in BYND valued at around $1,269,000 in the second quarter. In total, there are 343 active investors with 43.20% ownership of the company’s stock.
Beyond Meat Inc. (NASDAQ: BYND) opened at $16.86 on Thursday. During the past 12 months, Beyond Meat Inc. has had a low of $9.81 and a high of $44.59. The fifty day moving average price for BYND is $12.70 and a two-hundred day moving average price translates $14.45 for the stock.
The latest earnings results from Beyond Meat Inc. (NASDAQ: BYND) was released for Mar, 2023. According to the Packaged Foods Company, earnings per share came in at -$0.92, beating analysts’ expectations of -$1.01 by 0.09. This compares to -$1.58 EPS in the same period last year. The net profit margin was -80.80% and return on equity was 200.90% for BYND. The company reported revenue of $92.24 million for the quarter, compared to $109.45 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -15.73 percent. For the current quarter, analysts expect BYND to generate $110.87M in revenue.
Beyond Meat Inc.(BYND) Company Profile
Beyond Meat, Inc. 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, convenience, and natural retailer channels, 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.
