Beyond Meat (NASDAQ:BYND) Given New $6.00 Price Target at TD Cowen

Beyond Meat (NASDAQ:BYND) had its target price lowered by TD Cowen from $10.00 to $6.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “sell” rating on the stock. TD Cowen’s target price suggests a potential downside of 5.96% from the stock’s previous close.

BYND has been the subject of several other reports. BMO Capital Markets upped their target price on Beyond Meat from $7.00 to $10.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 28th. Argus upgraded Beyond Meat from a “sell” rating to a “hold” rating in a report on Thursday, February 29th. Finally, Mizuho increased their price objective on Beyond Meat from $5.00 to $7.00 and gave the company an “underperform” rating in a report on Thursday, February 29th. Five investment analysts have rated the stock with a sell rating and two have given a hold rating to the company. Based on data from MarketBeat, Beyond Meat currently has a consensus rating of “Reduce” and a consensus target price of $6.00.

Beyond Meat Stock Performance

Shares of BYND stock traded down $0.18 during trading on Wednesday, hitting $6.38. The company had a trading volume of 1,040,763 shares, compared to its average volume of 3,304,095. The firm has a market capitalization of $412.66 million, a P/E ratio of -1.22 and a beta of 2.41. The stock’s 50-day moving average price is $7.74 and its 200 day moving average price is $7.73. Beyond Meat has a one year low of $5.58 and a one year high of $19.25.

Beyond Meat (NASDAQ:BYND) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($2.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($1.58). The company had revenue of $73.68 million during the quarter, compared to analyst estimates of $66.66 million. During the same period in the prior year, the business posted ($1.05) EPS. The company’s revenue for the quarter was down 7.8% compared to the same quarter last year. On average, research analysts anticipate that Beyond Meat will post -2.46 earnings per share for the current fiscal year.

Institutional Trading of Beyond Meat

A number of large investors have recently bought and sold shares of BYND. Banque Cantonale Vaudoise grew its holdings in Beyond Meat by 117.4% during the 1st quarter. Banque Cantonale Vaudoise now owns 3,220 shares of the company’s stock worth $26,000 after acquiring an additional 1,739 shares during the period. Clear Street Markets LLC bought a new position in shares of Beyond Meat during the 3rd quarter worth about $31,000. Captrust Financial Advisors boosted its position in shares of Beyond Meat by 48.6% during the 2nd quarter. Captrust Financial Advisors now owns 1,746 shares of the company’s stock worth $42,000 after purchasing an additional 571 shares in the last quarter. Quest Partners LLC bought a new position in shares of Beyond Meat during the 4th quarter worth about $48,000. Finally, Scarborough Advisors LLC bought a new position in shares of Beyond Meat during the 4th quarter worth about $62,000. 52.48% of the stock is currently owned by institutional investors and hedge funds.

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.