Mizuho Lowers Beyond Meat (NASDAQ:BYND) Price Target to $6.00

Beyond Meat (NASDAQ:BYND) had its price target lowered by Mizuho from $7.00 to $6.00 in a research note published on Monday, Benzinga reports. Mizuho currently has an underperform rating on the stock.

BYND has been the topic of several other reports. TD Cowen reduced their price objective on Beyond Meat from $10.00 to $6.00 and set a sell rating on the stock in a research note on Wednesday, April 17th. BMO Capital Markets raised their price objective 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. Finally, Argus upgraded Beyond Meat from a sell rating to a hold rating in a research note on Thursday, February 29th. Five analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Reduce and a consensus target price of $5.83.

Beyond Meat Trading Up 4.6 %

Beyond Meat stock opened at $6.34 on Monday. The stock has a market cap of $410.05 million, a P/E ratio of -1.21 and a beta of 2.41. The stock has a 50 day moving average of $7.68 and a 200-day moving average of $7.63. Beyond Meat has a 52 week low of $5.58 and a 52 week high of $19.25.

Beyond Meat (NASDAQ:BYND) last released its earnings results on Tuesday, February 27th. The company reported ($2.40) EPS for the quarter, missing the consensus estimate of ($0.82) by ($1.58). The firm had revenue of $73.68 million during the quarter, compared to the consensus estimate of $66.66 million. The company’s revenue was down 7.8% on a year-over-year basis. During the same period in the prior year, the business posted ($1.05) EPS. As a group, equities analysts predict that Beyond Meat will post -2.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Udine Wealth Management Inc. acquired a new position in shares of Beyond Meat during the first quarter valued at $422,000. Banque Cantonale Vaudoise increased its holdings in shares of Beyond Meat by 117.4% during the first quarter. Banque Cantonale Vaudoise now owns 3,220 shares of the company’s stock valued at $26,000 after purchasing an additional 1,739 shares during the period. Virtu Financial LLC acquired a new position in shares of Beyond Meat during the fourth quarter valued at $196,000. Scarborough Advisors LLC acquired a new position in shares of Beyond Meat during the fourth quarter valued at $62,000. Finally, Arbor Capital Management Inc. ADV acquired a new position in shares of Beyond Meat during the fourth quarter valued at $752,000. 52.48% of the stock is 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.