Beyond Meat (NASDAQ:BYND) was the recipient of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 11,840,000 shares, an increase of 17.2% from the January 15th total of 10,100,000 shares. Approximately 46.4% of the shares of the stock are short sold. Based on an average daily volume of 8,360,000 shares, the days-to-cover ratio is presently 1.4 days.
Shares of NASDAQ BYND traded up $4.21 during midday trading on Friday, reaching $116.22. 6,950,595 shares of the stock were exchanged, compared to its average volume of 13,726,399. The company has a quick ratio of 6.38, a current ratio of 7.46 and a debt-to-equity ratio of 0.06. The company has a 50 day simple moving average of $102.45 and a 200 day simple moving average of $118.02. Beyond Meat has a twelve month low of $45.00 and a twelve month high of $239.71.
In other Beyond Meat news, Director Christopher Isaac Stone sold 20,000 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $78.04, for a total value of $1,560,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charles Muth sold 4,046 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $75.00, for a total transaction of $303,450.00. Following the completion of the sale, the insider now owns 210,734 shares of the company’s stock, valued at approximately $15,805,050. The disclosure for this sale can be found here. Over the last three months, insiders sold 82,046 shares of company stock valued at $6,909,590.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BYND. Valeo Financial Advisors LLC acquired a new stake in Beyond Meat during the third quarter worth $30,000. Institutional & Family Asset Management LLC lifted its stake in shares of Beyond Meat by 20,000.0% in the 3rd quarter. Institutional & Family Asset Management LLC now owns 201 shares of the company’s stock valued at $30,000 after purchasing an additional 200 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Beyond Meat by 580.0% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 272 shares of the company’s stock valued at $40,000 after purchasing an additional 232 shares during the last quarter. Metropolitan Life Insurance Co NY acquired a new position in shares of Beyond Meat in the 3rd quarter valued at $47,000. Finally, Coastal Investment Advisors Inc. grew its holdings in shares of Beyond Meat by 450.0% during the 3rd quarter. Coastal Investment Advisors Inc. now owns 330 shares of the company’s stock worth $49,000 after purchasing an additional 270 shares during the period. Hedge funds and other institutional investors own 10.65% of the company’s stock.
Several research analysts have recently weighed in on the company. Goldman Sachs Group restated a “neutral” rating and set a $122.00 target price on shares of Beyond Meat in a report on Tuesday, October 29th. UBS Group initiated coverage on Beyond Meat in a report on Friday, November 8th. They issued a “neutral” rating and a $85.00 price target for the company. DA Davidson reduced their price objective on Beyond Meat from $130.00 to $84.00 and set an “underperform” rating on the stock in a research report on Tuesday, October 29th. They noted that the move was a valuation call. Zacks Investment Research downgraded Beyond Meat from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Finally, Berenberg Bank began coverage on Beyond Meat in a research note on Thursday, November 14th. They set a “buy” rating and a $100.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $112.84.
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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