Beyond Meat (NASDAQ:BYND) Given New $3.00 Price Target at Barclays

Beyond Meat (NASDAQ:BYND) had its target price lowered by Barclays from $4.00 to $3.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has an underweight rating on the stock.

Beyond Meat Stock Down 10.7 %

Beyond Meat stock opened at $3.18 on Thursday. Beyond Meat has a 52-week low of $3.10 and a 52-week high of $12.12. The firm’s fifty day moving average is $3.87 and its 200 day moving average is $5.13. The company has a market cap of $207.35 million, a price-to-earnings ratio of -0.76 and a beta of 2.31.

Beyond Meat (NASDAQ:BYND) last announced its earnings results on Wednesday, February 26th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.21). The firm had revenue of $76.66 million for the quarter, compared to analysts’ expectations of $76.08 million. On average, equities research analysts anticipate that Beyond Meat will post -2.1 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Ethan Brown sold 313,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $3.75, for a total transaction of $1,173,750.00. Following the transaction, the insider now owns 1,703,288 shares of the company’s stock, valued at approximately $6,387,330. The trade was a 15.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 8.60% of the company’s stock.

Institutional Trading of Beyond Meat

A number of institutional investors have recently bought and sold shares of BYND. Vontobel Holding Ltd. raised its stake in shares of Beyond Meat by 128.7% in the fourth quarter. Vontobel Holding Ltd. now owns 1,302,941 shares of the company’s stock valued at $4,899,000 after acquiring an additional 733,168 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Beyond Meat by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 522,894 shares of the company’s stock valued at $3,545,000 after purchasing an additional 7,332 shares during the last quarter. Zweig DiMenna Associates LLC purchased a new stake in Beyond Meat in the 4th quarter worth about $1,746,000. Ballentine Partners LLC bought a new stake in Beyond Meat in the fourth quarter worth about $39,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Beyond Meat by 16.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,901 shares of the company’s stock valued at $257,000 after buying an additional 5,419 shares during the period. 52.48% of the stock is currently owned by institutional investors.

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.