Barclays Issues Pessimistic Forecast for Beyond Meat (NASDAQ:BYND) Stock Price

Beyond Meat (NASDAQ:BYND) had its target price trimmed by Barclays from $4.00 to $3.00 in a report published on Thursday morning,Benzinga reports. The firm currently has an underweight rating on the stock.

Beyond Meat Price Performance

Shares of BYND opened at $3.18 on Thursday. The firm has a market capitalization of $207.35 million, a price-to-earnings ratio of -0.76 and a beta of 2.31. Beyond Meat has a 1-year low of $3.10 and a 1-year high of $12.12. The company has a 50-day moving average of $3.87 and a 200 day moving average of $5.13.

Beyond Meat (NASDAQ:BYND) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.21). The firm had revenue of $76.66 million for the quarter, compared to analysts’ expectations of $76.08 million. On average, equities analysts anticipate that Beyond Meat will post -2.1 earnings per share for the current fiscal year.

Insider Transactions at Beyond Meat

In related news, insider Ethan Brown sold 313,000 shares of Beyond Meat stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $3.75, for a total value of $1,173,750.00. Following the completion of the sale, the insider now directly owns 1,703,288 shares in the company, valued at $6,387,330. The trade was a 15.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

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

Beyond Meat Company Profile

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.