Beyond Meat, Inc. (NASDAQ:BYND) Sees Large Growth in Short Interest

Beyond Meat, Inc. (NASDAQ:BYND) was the target of a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 31,170,000 shares, a growth of 13.0% from the December 31st total of 27,590,000 shares. Based on an average daily volume of 3,270,000 shares, the days-to-cover ratio is presently 9.5 days. Approximately 51.4% of the shares of the stock are sold short.

Insider Buying and Selling

In other Beyond Meat news, insider Ethan Brown sold 313,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $3.75, for a total transaction of $1,173,750.00. Following the completion of the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BYND. Ballentine Partners LLC bought a new position in shares of Beyond Meat in the 4th quarter worth $39,000. Van ECK Associates Corp raised its holdings in Beyond Meat by 68.8% during the fourth quarter. Van ECK Associates Corp now owns 10,498 shares of the company’s stock worth $39,000 after buying an additional 4,280 shares during the last quarter. Perigon Wealth Management LLC increased its position in shares of Beyond Meat by 25.9% during the fourth quarter. Perigon Wealth Management LLC now owns 14,530 shares of the company’s stock worth $55,000 after acquiring an additional 2,986 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of Beyond Meat during the third quarter worth about $128,000. Finally, The Manufacturers Life Insurance Company raised 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. 52.48% of the stock is owned by institutional investors.

Beyond Meat Stock Down 4.3 %

Shares of BYND stock traded down $0.17 during mid-day trading on Monday, reaching $3.79. 2,886,178 shares of the stock traded hands, compared to its average volume of 3,379,336. The stock’s fifty day simple moving average is $4.07 and its two-hundred day simple moving average is $5.40. Beyond Meat has a 1-year low of $3.30 and a 1-year high of $12.12. The company has a market cap of $247.12 million, a price-to-earnings ratio of -0.91 and a beta of 2.26.

Beyond Meat (NASDAQ:BYND) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.03. The business had revenue of $81.01 million for the quarter, compared to the consensus estimate of $80.13 million. Beyond Meat’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the business posted ($1.09) EPS. On average, equities research analysts anticipate that Beyond Meat will post -2.09 EPS for the current fiscal year.

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.