Rocky Mountain Advisers LLC acquired a new position in shares of Beyond Meat (NASDAQ:BYND) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 200 shares of the company’s stock, valued at approximately $32,000.
A number of other hedge funds also recently added to or reduced their stakes in BYND. Atalanta Sosnoff Capital LLC acquired a new position in Beyond Meat in the 2nd quarter valued at approximately $6,571,000. Flagship Harbor Advisors LLC acquired a new position in Beyond Meat in the 2nd quarter valued at approximately $64,000. Commerzbank Aktiengesellschaft FI acquired a new position in Beyond Meat in the 2nd quarter valued at approximately $4,468,000. West Oak Capital LLC acquired a new position in Beyond Meat in the 2nd quarter valued at approximately $88,000. Finally, Meridian Wealth Management LLC acquired a new position in Beyond Meat in the 2nd quarter valued at approximately $709,000. Institutional investors and hedge funds own 0.19% of the company’s stock.
Several equities analysts have issued reports on BYND shares. Zacks Investment Research upgraded shares of Beyond Meat from a “hold” rating to a “buy” rating and set a $197.00 price target for the company in a research report on Tuesday. Consumer Edge initiated coverage on shares of Beyond Meat in a research report on Monday, May 20th. They set an “equal weight” rating and a $89.35 price objective for the company. JPMorgan Chase & Co. cut shares of Beyond Meat from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $120.00 to $121.00 in a research report on Tuesday, June 11th. They noted that the move was a valuation call. Credit Suisse Group increased their price objective on shares of Beyond Meat from $70.00 to $125.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 9th. Finally, Bank of America increased their price objective on shares of Beyond Meat from $170.00 to $182.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $126.17.
Shares of BYND traded up $3.93 during trading hours on Wednesday, hitting $165.17. 166,183 shares of the stock were exchanged, compared to its average volume of 7,952,777. Beyond Meat has a fifty-two week low of $45.00 and a fifty-two week high of $239.71. The company has a quick ratio of 7.90, a current ratio of 8.95 and a debt-to-equity ratio of 0.07. The business’s 50-day simple moving average is $173.06.
Beyond Meat (NASDAQ:BYND) last issued its earnings results on Thursday, June 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.14). The company had revenue of $40.20 million for the quarter, compared to the consensus estimate of $38.93 million. Beyond Meat’s revenue was up 214.1% compared to the same quarter last year. Sell-side analysts anticipate that Beyond Meat will post -0.23 EPS for the current fiscal year.
Beyond Meat Company Profile
Beyond Meat, Inc, a food company, manufactures, markets, and sells plant-based meat products in the United States and internationally. The company sells its products under the Beyond Beef, Beyond Chicken, The Beyond Burger, Beyond Meat, Beyond Sausage, Eat What You Love, and The Cookout Classic brand names.
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