Bayesian Capital Management LP Purchases Shares of 62,100 Beyond Meat, Inc. (NASDAQ:BYND)

Bayesian Capital Management LP purchased a new stake in shares of Beyond Meat, Inc. (NASDAQ:BYND) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 62,100 shares of the company’s stock, valued at approximately $514,000. Bayesian Capital Management LP owned approximately 0.10% of Beyond Meat at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Beyond Meat by 3.0% in the first quarter. Vanguard Group Inc. now owns 5,351,777 shares of the company’s stock worth $44,313,000 after purchasing an additional 155,653 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Beyond Meat during the first quarter valued at $902,000. SG Americas Securities LLC lifted its stake in Beyond Meat by 312.6% in the first quarter. SG Americas Securities LLC now owns 102,947 shares of the company’s stock worth $852,000 after acquiring an additional 77,996 shares during the period. Arbor Capital Management Inc. ADV purchased a new stake in Beyond Meat in the fourth quarter worth about $752,000. Finally, Cowen AND Company LLC purchased a new stake in Beyond Meat in the fourth quarter worth about $623,000. Institutional investors own 52.48% of the company’s stock.

Beyond Meat Stock Performance

Shares of BYND traded up $0.05 during mid-day trading on Wednesday, hitting $6.19. 199,531 shares of the company traded hands, compared to its average volume of 2,983,976. Beyond Meat, Inc. has a 1-year low of $5.58 and a 1-year high of $17.24. The business has a 50 day moving average of $6.84 and a 200 day moving average of $7.21.

Beyond Meat (NASDAQ:BYND) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.05). The firm had revenue of $75.60 million for the quarter, compared to analysts’ expectations of $75.24 million. During the same quarter in the prior year, the business posted ($0.92) EPS. The firm’s quarterly revenue was down 18.0% on a year-over-year basis. As a group, equities analysts anticipate that Beyond Meat, Inc. will post -2.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BYND has been the subject of a number of recent research reports. The Goldman Sachs Group reduced their target price on shares of Beyond Meat from $4.00 to $3.50 and set a “sell” rating for the company in a report on Thursday, May 9th. BMO Capital Markets reduced their target price on shares of Beyond Meat from $10.00 to $9.00 and set a “market perform” rating for the company in a report on Thursday, May 9th. TD Cowen reduced their target price on shares of Beyond Meat from $10.00 to $6.00 and set a “sell” rating for the company in a report on Wednesday, April 17th. Mizuho reduced their target price on shares of Beyond Meat from $7.00 to $6.00 and set an “underperform” rating for the company in a report on Monday, April 22nd. Finally, Canaccord Genuity Group reduced their target price on shares of Beyond Meat from $9.00 to $7.00 and set a “hold” rating for the company in a 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.com, Beyond Meat has a consensus rating of “Reduce” and a consensus price target of $5.56.

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.