Mizuho Lowers Beyond Meat (NASDAQ:BYND) Price Target to $5.00

Beyond Meat (NASDAQ:BYND) had its price target trimmed by Mizuho from $6.00 to $5.00 in a research note published on Monday, Benzinga reports. The firm currently has an underperform rating on the stock.

Several other research analysts also recently weighed in on the stock. BMO Capital Markets dropped their target price on shares of Beyond Meat from $9.00 to $6.00 and set a market perform rating for the company in a report on Thursday, August 8th. The Goldman Sachs Group dropped their price objective on Beyond Meat from $4.00 to $3.50 and set a sell rating for the company in a research note on Thursday, May 9th. Finally, Canaccord Genuity Group cut their target price on Beyond Meat from $9.00 to $7.00 and set a hold rating for the company in a research report on Friday, May 10th. Six equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Reduce and an average price target of $5.06.

Beyond Meat Stock Performance

Shares of NASDAQ:BYND opened at $6.33 on Monday. Beyond Meat has a 52-week low of $5.13 and a 52-week high of $12.47. The stock’s 50-day simple moving average is $6.36 and its two-hundred day simple moving average is $7.08. The stock has a market capitalization of $410.72 million, a price-to-earnings ratio of -1.23 and a beta of 2.26.

Beyond Meat (NASDAQ:BYND) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.02). The business had revenue of $93.19 million for the quarter, compared to analyst estimates of $87.81 million. Beyond Meat’s quarterly revenue was down 8.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.83) earnings per share. As a group, equities analysts forecast that Beyond Meat will post -2.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Beyond Meat

Several large investors have recently made changes to their positions in BYND. Banque Cantonale Vaudoise increased its position in Beyond Meat by 117.4% in the first quarter. Banque Cantonale Vaudoise now owns 3,220 shares of the company’s stock worth $26,000 after purchasing an additional 1,739 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Beyond Meat in the 2nd quarter valued at about $41,000. Quest Partners LLC bought a new position in shares of Beyond Meat in the 4th quarter valued at about $48,000. Scarborough Advisors LLC purchased a new position in Beyond Meat in the fourth quarter worth about $62,000. Finally, ProShare Advisors LLC bought a new stake in Beyond Meat during the first quarter worth approximately $88,000. 52.48% of the stock is owned by institutional investors.

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.