Beyond Meat (NASDAQ:BYND) saw a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 10,100,000 shares, a growth of 18.8% from the December 15th total of 8,500,000 shares. Currently, 39.4% of the company’s shares are short sold. Based on an average daily trading volume, of 5,250,000 shares, the days-to-cover ratio is presently 1.9 days.
Beyond Meat stock opened at $114.34 on Tuesday. Beyond Meat has a 52-week low of $45.00 and a 52-week high of $239.71. The stock’s 50 day moving average price is $79.15 and its two-hundred day moving average price is $126.58. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.38 and a current ratio of 7.46.
Beyond Meat (NASDAQ:BYND) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. Beyond Meat had a negative return on equity of 5.92% and a negative net margin of 8.42%. The firm had revenue of $91.96 million for the quarter, compared to analysts’ expectations of $83.35 million. Beyond Meat’s revenue was up 250.0% compared to the same quarter last year. Analysts anticipate that Beyond Meat will post -0.2 earnings per share for the current fiscal year.
BYND has been the subject of a number of recent analyst reports. Barclays reissued a “buy” rating and set a $185.00 target price on shares of Beyond Meat in a research report on Tuesday, October 29th. Oppenheimer initiated coverage on shares of Beyond Meat in a research report on Monday, December 2nd. They set a “market perform” rating for the company. Cfra raised shares of Beyond Meat from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. set a $138.00 target price on shares of Beyond Meat and gave the company a “buy” rating in a research report on Tuesday, October 29th. Finally, Zacks Investment Research downgraded shares of Beyond Meat from a “buy” rating to a “hold” rating in a research report on Tuesday, December 31st. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company. Beyond Meat presently has a consensus rating of “Hold” and a consensus price target of $112.77.
In other Beyond Meat news, insider Cari Soto sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $79.95, for a total transaction of $799,500.00. Also, insider Charles Muth sold 4,046 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $75.00, for a total transaction of $303,450.00. Following the sale, the insider now directly owns 210,734 shares of the company’s stock, valued at approximately $15,805,050. The disclosure for this sale can be found here. Insiders sold 337,193 shares of company stock valued at $27,090,653 in the last ninety days.
Large investors have recently modified their holdings of the business. Valeo Financial Advisors LLC bought a new position in Beyond Meat during the 3rd quarter valued at $30,000. Institutional & Family Asset Management LLC lifted its stake in Beyond Meat by 20,000.0% during the 3rd quarter. Institutional & Family Asset Management LLC now owns 201 shares of the company’s stock valued at $30,000 after acquiring an additional 200 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in Beyond Meat by 580.0% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 272 shares of the company’s stock valued at $40,000 after acquiring an additional 232 shares in the last quarter. Metropolitan Life Insurance Co NY bought a new position in Beyond Meat during the 3rd quarter valued at $47,000. Finally, Coastal Investment Advisors Inc. lifted its stake in Beyond Meat by 450.0% during the 3rd quarter. Coastal Investment Advisors Inc. now owns 330 shares of the company’s stock valued at $49,000 after acquiring an additional 270 shares in the last quarter. Institutional investors and hedge funds own 10.18% of the company’s stock.
About Beyond Meat
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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