Beyond Meat, Inc. (NASDAQ:BYND) Short Interest Update

Beyond Meat, Inc. (NASDAQ:BYND) was the target of a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 26,150,000 shares, an increase of 5.6% from the September 30th total of 24,770,000 shares. Based on an average daily volume of 2,720,000 shares, the days-to-cover ratio is presently 9.6 days. Approximately 42.9% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on BYND shares. Mizuho reduced their price target on shares of Beyond Meat from $6.00 to $5.00 and set an “underperform” rating for the company in a research report on Monday, August 26th. BMO Capital Markets reduced their target price on Beyond Meat from $9.00 to $6.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. Five investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $5.36.

Beyond Meat Trading Down 1.7 %

BYND stock opened at $6.18 on Thursday. The company has a market cap of $400.99 million, a price-to-earnings ratio of -1.20 and a beta of 2.26. The firm has a 50-day moving average of $6.38 and a two-hundred day moving average of $6.62. Beyond Meat has a 12 month low of $5.13 and a 12 month high of $12.12.

Beyond Meat (NASDAQ:BYND) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.02). The company had revenue of $93.19 million during the quarter, compared to analysts’ expectations of $87.81 million. The business’s revenue was down 8.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.83) earnings per share. As a group, equities analysts forecast that Beyond Meat will post -2.12 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BYND. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in shares of Beyond Meat by 42.7% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 625,396 shares of the company’s stock valued at $4,240,000 after buying an additional 186,996 shares during the period. Vontobel Holding Ltd. increased its position in shares of Beyond Meat by 91.5% during the third quarter. Vontobel Holding Ltd. now owns 569,773 shares of the company’s stock valued at $3,863,000 after acquiring an additional 272,240 shares during the last quarter. Susquehanna Fundamental Investments LLC raised its stake in shares of Beyond Meat by 93.3% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 210,612 shares of the company’s stock valued at $1,413,000 after acquiring an additional 101,652 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Beyond Meat by 17.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 26,469 shares of the company’s stock worth $178,000 after acquiring an additional 3,902 shares during the last quarter. Finally, Ensign Peak Advisors Inc boosted its position in shares of Beyond Meat by 7.8% during the 2nd quarter. Ensign Peak Advisors Inc now owns 36,493 shares of the company’s stock worth $245,000 after purchasing an additional 2,650 shares during the period. Institutional investors and hedge funds own 52.48% of the company’s stock.

About Beyond Meat

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.