Beyond Meat (NASDAQ:BYND) Trading Down 2.4% – Here’s What Happened

Shares of Beyond Meat, Inc. (NASDAQ:BYND) traded down 2.4% during trading on Friday . The company traded as low as $4.00 and last traded at $4.08. 5,940,722 shares traded hands during trading, an increase of 61% from the average session volume of 3,701,016 shares. The stock had previously closed at $4.18.

Beyond Meat Stock Down 2.4 %

The company’s fifty day moving average is $4.28 and its 200 day moving average is $5.61.

Beyond Meat (NASDAQ:BYND) last posted its earnings results on Wednesday, November 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.03. The company had revenue of $81.01 million for the quarter, compared to analysts’ expectations of $80.13 million. The company’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.09) EPS. On average, analysts predict that Beyond Meat, Inc. will post -2.09 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Ethan Brown sold 313,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $3.75, for a total transaction of $1,173,750.00. Following the sale, the insider now owns 1,703,288 shares of the company’s stock, valued at approximately $6,387,330. This represents a 15.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 8.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BYND. Ballentine Partners LLC bought a new position in shares of Beyond Meat in the fourth quarter worth $39,000. Canada Pension Plan Investment Board purchased a new position in Beyond Meat during the second quarter worth about $41,000. Intech Investment Management LLC bought a new position in Beyond Meat in the 3rd quarter worth about $128,000. The Manufacturers Life Insurance Company increased its stake in Beyond Meat by 17.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 26,469 shares of the company’s stock worth $178,000 after acquiring an additional 3,902 shares during the last quarter. Finally, Ensign Peak Advisors Inc raised its holdings in shares of Beyond Meat by 7.8% in the 2nd quarter. Ensign Peak Advisors Inc now owns 36,493 shares of the company’s stock valued at $245,000 after acquiring an additional 2,650 shares in the last quarter. 52.48% of the stock is 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.