Beyond Meat (NASDAQ:BYND)’s share price hit a new 52-week high on Tuesday . The company traded as high as $167.77 and last traded at $167.64, with a volume of 198811 shares changing hands. The stock had previously closed at $151.30.
A number of brokerages have recently weighed in on BYND. Citigroup upgraded Beyond Meat from a “sell” rating to a “neutral” rating and raised their price objective for the company from $123.00 to $141.00 in a research report on Monday, August 31st. ValuEngine lowered Beyond Meat from a “buy” rating to a “hold” rating in a research report on Thursday, September 10th. Canaccord Genuity began coverage on Beyond Meat in a research report on Tuesday, July 28th. They set a “hold” rating and a $140.00 price objective for the company. Jefferies Financial Group restated a “hold” rating and set a $118.00 price objective on shares of Beyond Meat in a research report on Tuesday, August 11th. Finally, Goldman Sachs Group raised their price objective on Beyond Meat from $44.00 to $112.00 and gave the company a “sell” rating in a research report on Monday, August 10th. Eight research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $115.77.
The company has a quick ratio of 4.32, a current ratio of 6.48 and a debt-to-equity ratio of 0.13. The firm has a market cap of $10.37 billion, a P/E ratio of -2,075.75 and a beta of 2.67. The company’s 50 day simple moving average is $136.35 and its 200-day simple moving average is $120.40.
Beyond Meat (NASDAQ:BYND) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.02). The business had revenue of $113.34 million during the quarter, compared to the consensus estimate of $99.35 million. Beyond Meat had a negative net margin of 1.18% and a positive return on equity of 1.11%. The firm’s quarterly revenue was up 68.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.24) earnings per share. Equities research analysts predict that Beyond Meat will post 0.07 EPS for the current year.
In other news, insider Cari Soto sold 211 shares of Beyond Meat stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $130.33, for a total transaction of $27,499.63. Following the completion of the sale, the insider now owns 10,399 shares of the company’s stock, valued at $1,355,301.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Teri L. Witteman sold 1,969 shares of Beyond Meat stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $126.24, for a total transaction of $248,566.56. Following the sale, the general counsel now directly owns 51,550 shares of the company’s stock, valued at approximately $6,507,672. The disclosure for this sale can be found here. Insiders have sold 263,893 shares of company stock valued at $36,518,285 in the last ninety days. Insiders own 11.00% of the company’s stock.
Several institutional investors have recently bought and sold shares of BYND. Allworth Financial LP raised its stake in shares of Beyond Meat by 326.1% during the second quarter. Allworth Financial LP now owns 196 shares of the company’s stock valued at $26,000 after acquiring an additional 150 shares in the last quarter. Creative Financial Designs Inc. ADV purchased a new position in Beyond Meat during the second quarter valued at approximately $30,000. Carroll Financial Associates Inc. increased its holdings in Beyond Meat by 2,511.1% during the second quarter. Carroll Financial Associates Inc. now owns 235 shares of the company’s stock valued at $31,000 after buying an additional 226 shares during the period. Pathstone Family Office LLC purchased a new position in Beyond Meat during the first quarter valued at approximately $33,000. Finally, Pacific Center for Financial Services increased its holdings in Beyond Meat by 198.8% during the second quarter. Pacific Center for Financial Services now owns 248 shares of the company’s stock valued at $33,000 after buying an additional 165 shares during the period. 31.45% of the stock is owned by hedge funds and other institutional investors.
Beyond Meat Company Profile (NASDAQ:BYND)
Beyond Meat, Inc, a food company, manufactures, markets, and sells plant-based meat products in the United States and internationally. The company sells its products under the Beyond Beef, Beyond Chicken, The Beyond Burger, Beyond Meat, Beyond Sausage, Eat What You Love, and The Cookout Classic brand names.
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