Investors Buy Large Volume of Call Options on Beyond Meat (NASDAQ:BYND)

Beyond Meat, Inc. (NASDAQ:BYND) was the recipient of unusually large options trading on Friday. Stock traders bought 44,589 call options on the stock. This is an increase of 42% compared to the average daily volume of 31,350 call options.

Wall Street Analyst Weigh In

BYND has been the topic of several analyst reports. Mizuho reduced their target price on shares of Beyond Meat from $6.00 to $5.00 and set an “underperform” rating on the stock in a report on Monday, August 26th. BMO Capital Markets reduced their price objective on shares of Beyond Meat from $9.00 to $6.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. Six investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $5.06.

Institutional Trading of Beyond Meat

A number of large investors have recently made changes to their positions in BYND. Vanguard Group Inc. boosted its holdings in shares of Beyond Meat by 3.0% in the first quarter. Vanguard Group Inc. now owns 5,351,777 shares of the company’s stock valued at $44,313,000 after acquiring an additional 155,653 shares during the period. SG Americas Securities LLC boosted its stake in Beyond Meat by 141.8% during the 2nd quarter. SG Americas Securities LLC now owns 248,921 shares of the company’s stock worth $1,670,000 after purchasing an additional 145,974 shares during the period. Bank of New York Mellon Corp grew its position in Beyond Meat by 5.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 235,016 shares of the company’s stock worth $1,577,000 after purchasing an additional 11,800 shares during the last quarter. Raymond James & Associates acquired a new position in Beyond Meat in the second quarter valued at $1,463,000. Finally, Susquehanna Fundamental Investments LLC raised its holdings in shares of Beyond Meat by 93.3% in the second quarter. Susquehanna Fundamental Investments LLC now owns 210,612 shares of the company’s stock valued at $1,413,000 after buying an additional 101,652 shares during the last quarter. 52.48% of the stock is owned by institutional investors and hedge funds.

Beyond Meat Trading Up 0.5 %

BYND stock opened at $6.36 on Friday. The stock has a market cap of $412.67 million, a P/E ratio of -1.23 and a beta of 2.25. Beyond Meat has a twelve month low of $5.13 and a twelve month high of $12.12. The company’s 50 day moving average is $6.16 and its two-hundred day moving average is $6.89.

Beyond Meat (NASDAQ:BYND) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.02). The company had revenue of $93.19 million for the quarter, compared to analysts’ expectations of $87.81 million. Beyond Meat’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.83) EPS. On average, equities research analysts predict that Beyond Meat will post -2.12 earnings per share for the current year.

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.