Beyond Meat, Inc. (NASDAQ:BYND) Sees Large Increase in Short Interest

Beyond Meat, Inc. (NASDAQ:BYND) saw a significant increase in short interest in November. As of November 15th, there was short interest totalling 27,900,000 shares, an increase of 7.2% from the October 31st total of 26,020,000 shares. Currently, 45.7% of the company’s stock are short sold. Based on an average daily volume of 2,400,000 shares, the short-interest ratio is presently 11.6 days.

Analysts Set New Price Targets

A number of research firms have recently commented on BYND. BMO Capital Markets lowered their price target on Beyond Meat from $9.00 to $6.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. Mizuho reduced their price objective on shares of Beyond Meat from $6.00 to $5.00 and set an “underperform” rating for the company in a research note on Monday, August 26th. Three analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $5.50.

Beyond Meat Stock Performance

BYND stock opened at $4.96 on Tuesday. Beyond Meat has a fifty-two week low of $4.79 and a fifty-two week high of $12.12. The business has a 50 day moving average price of $6.00 and a 200 day moving average price of $6.35.

Beyond Meat (NASDAQ:BYND) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.03. The business had revenue of $81.01 million for the quarter, compared to analyst estimates of $80.13 million. During the same quarter last year, the business earned ($1.09) EPS. Beyond Meat’s revenue for the quarter was up 7.6% compared to the same quarter last year. Analysts forecast that Beyond Meat will post -2.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Canada Pension Plan Investment Board acquired a new position in Beyond Meat during the second quarter worth approximately $41,000. Intech Investment Management LLC purchased a new position in Beyond Meat during the third quarter worth about $128,000. Headlands Technologies LLC bought a new stake in Beyond Meat in the 2nd quarter valued at about $177,000. The Manufacturers Life Insurance Company grew its position in Beyond Meat by 17.3% during the second quarter. The Manufacturers Life Insurance Company now owns 26,469 shares of the company’s stock worth $178,000 after buying an additional 3,902 shares in the last quarter. Finally, MUFG Securities EMEA plc lifted its stake in shares of Beyond Meat by 29.8% in the 2nd quarter. MUFG Securities EMEA plc now owns 27,413 shares of the company’s stock valued at $184,000 after acquiring an additional 6,300 shares during the last quarter. Institutional investors own 52.48% of the company’s stock.

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.