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

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

Several other research analysts also recently commented on BYND. Argus upgraded Beyond Meat from a sell rating to a hold rating in a research note on Thursday, February 29th. TD Cowen dropped their price target on Beyond Meat from $10.00 to $6.00 and set a sell rating for the company in a report on Wednesday, April 17th. Finally, BMO Capital Markets lifted their price target on Beyond Meat from $7.00 to $10.00 and gave the stock a market perform rating in a report on Wednesday, February 28th. Five research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Reduce and an average price target of $5.83.

Beyond Meat Trading Up 4.6 %

Shares of NASDAQ BYND opened at $6.34 on Monday. Beyond Meat has a 12 month low of $5.58 and a 12 month high of $19.25. The stock has a 50 day moving average of $7.68 and a 200-day moving average of $7.63. The company has a market capitalization of $410.05 million, a P/E ratio of -1.21 and a beta of 2.41.

Beyond Meat (NASDAQ:BYND) last issued 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. During the same period in the prior year, the company earned ($1.05) EPS. The company’s revenue for the quarter was down 7.8% compared to the same quarter last year. Analysts predict that Beyond Meat will post -2.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Beyond Meat

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Olympiad Research LP raised its holdings in Beyond Meat by 5.1% in the 4th quarter. Olympiad Research LP now owns 30,592 shares of the company’s stock valued at $272,000 after acquiring an additional 1,477 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Beyond Meat by 9.4% during the 4th quarter. Arizona State Retirement System now owns 17,999 shares of the company’s stock worth $160,000 after buying an additional 1,541 shares in the last quarter. Gotham Asset Management LLC raised its holdings in shares of Beyond Meat by 5.6% during the 3rd quarter. Gotham Asset Management LLC now owns 31,165 shares of the company’s stock worth $300,000 after buying an additional 1,646 shares in the last quarter. Banque Cantonale Vaudoise raised its holdings in shares of 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 buying an additional 1,739 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Beyond Meat by 5.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 58,921 shares of the company’s stock worth $567,000 after buying an additional 3,143 shares in the last quarter. 52.48% of the stock is owned by institutional investors and hedge funds.

Beyond Meat Company Profile

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.