Stocks of Beyond Meat Inc (NASDAQ:BYND) traded higher last session on Wall Street, down -1.14% to $10.43.
According to the data, Beyond Meat Inc (NASDAQ:BYND) has 15 analysts covering its stock. The consensus rating among analysts is ‘Underweight’. As we calculate the median target price by taking the range between a high of $9.00 and a low of $3.00, we find $5.00. Given the previous closing price of $10.55, this indicates a potential downside of -52.61 percent. BYND stock price is now 40.09% away from the 50-day moving average and -12.80% away from the 200-day moving average. The market capitalization of the company currently stands at $673.15M.
A total of 7 analysts have issued a hold rating and 0 have given it a buy rating. Brokers who have rated the stock have averaged $5.75 as their price target over the next twelve months.
With the price target maintained at $5, Consumer Edge Research recently Downgraded its rating from Equal Weight to Underweight for Beyond Meat Inc (NASDAQ: BYND).
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 $0.82 million. Insiders disposed of 107,673 shares of company stock worth roughly $1.12 million over the past 1 year. A total of 5.74% of the company’s stock is owned by insiders.
Wednesday’s opening bell rang with an opening price of $10.30 for Beyond Meat Inc (NASDAQ: BYND). During the past 12 months, Beyond Meat Inc has had a low of $5.58 and a high of $22.87. The fifty day moving average price for BYND is $7.45 and a two-hundred day moving average price translates $11.96 for the stock.
The latest earnings results from Beyond Meat Inc (NASDAQ: BYND) was released for Sep, 2023. According to the Packaged Foods Company, earnings per share came in at -$1.09, missing analysts’ expectations of -$0.89 by -0.2. This compares to -$1.60 EPS in the same period last year. The net profit margin was -71.47% and return on equity was -1167.03% for BYND. The company reported revenue of $75.31 million for the quarter, compared to $82.5 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -8.71 percent. For the current quarter, analysts expect BYND to generate $66.66M 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.
