On Jan. 07, Muth Charles divested U.S. $7,115,296 in shares of Beyond Meat Inc.. The Chief Growth Officer sold 60,000 shares at a price per share of $118.59. The transaction decreased this specific insider’s holdings to 133,212 shares worth around $15.73 million at present.
Piper Sandler took its Beyond Meat Inc. [BYND] rating to the equivalent of a Neutral from an Overweight, and the price target to $125 from $144, in a research note dated January 06, 2021. That figure represents around a 5.52% premium from where the company’s shares closed on Friday. Other analysts also revised their coverage, with Piper Sandler’s analysts downgrading the shares from “an Overweight” rating to “a Neutral” rating in a research note to investors issued in early January. Meanwhile, UBS had raised its rating on BYND to “Neutral” from the earlier “Sell”, in a research note produced for clients November 10, 2020. In addition, there was an upgrade from Piper Sandler on November 10, 2020. The rater changed BYND from “a Neutral” to “an Overweight”.
Is Beyond Meat Inc. [NASDAQ:BYND] a Good Buy Right Now?
It should be noted that BYND technical indicators for short, intermediate as well as long term progress have placed an overall average of 72% as Sell. The average signal changed from 56% Sell in the last week and compares with 8% Buy in the past month. Data from Beyond Meat Inc.’s Trend Spotter indicated that the signals were Strengthening. The stock current average is 3.21 million shares in the past 20 days and the short term average signal indicates a 100% Sell. In the last 50 days, the average trading volume was 4.13 million shares while the medium term average advocated for 50% Sell. The average long-term signal stands at 50% Sell and the 100-day average volume stands at 4.31 million shares.
BYND Price Performance
On Wall Street, Beyond Meat Inc. [NASDAQ:BYND] finished Friday’s session down -2.15% at $118.10. The stock went up to $121.49 at the same session while its lowest single day price was $116.7366. In the last five days, it saw a fall of about -5.52%, Beyond Meat Inc. shares dropped by almost -5.52% since the beginning of the year. However, the share price has dropped to as low as -40.20% below its one year high. On 01/05/21, the company shares recorded $128.88, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/07/21, the same year at $116.50. The company’s shares have inclined by 30.86% in the past year. The 50-day SMA achieved is $136.88 while the 200-day SMA is $133.30. Volume dropped to 4.44 million from 4.59 million in the previous session.
BYND Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 116.06 level, and in case of violation of this particular level, it will cause more drop to 114.02 level. On the upper level, 123.53 is still the key resistance. The stock may increase to the subsequent resistance at 120.81. The Relative Strength Index (RSI) pinned on the 14-day chart is 30.87, implying a neutral technical stance while the MACD stands at -10.50, meaning price will decrease in the next trading period. Percent R indicator moved to 94.54%, implying bearish price movement. Stochastic %K at 6.92% suggest buying the stock.
What is the short interest in Beyond Meat Inc.?
Short interest in the Beyond Meat Inc. stock has plunged, decreasing by -1.54 million shares to total 13.53 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 11.99 million, data from Yahoo Finance shows. The increase of 11.38% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 24.10% of the overall float for the stock.
Beyond Meat Inc.’s Biggest Shareholders: Who Owns Beyond Meat Inc. [BYND]?
Filings by The Vanguard Group, Inc. showed that the firm now holds a total of 3,977,325 shares or roughly 6.35% of the outstanding BYND shares. This means their shares have increased by 599,201 from the 3,977,325 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, Baillie Gifford & Co. updated stake is worth $426,149,810. Details in the latest 13F filings reveal that BlackRock Fund Advisors acquired their 45.41% stake valued at $271,535,408. During the last quarter, BlackRock Fund Advisors raised 606,155 of its shares in Beyond Meat Inc. while Renaissance Technologies LLC bought 774,300 shares. The Robeco Institutional Asset Manage’s holdings currently number 750,000 shares at $88575000.0. According to the firm’s last 13F report, Gilder, Gagnon, Howe & Co. LLC shares in the company at filing stood at 690,870 shares, roughly $96,652,713.
BYND Earnings Forecast For The Current Quarter
Beyond Meat Inc. [BYND] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $106.71M and an earnings per share of -$0.12 for Dec 2020. Looking further ahead, the company is expected to report revenue of $128.27M at an EPS of $0.02 for Mar 2021. The estimates represent upside of 52.10% and 174.20% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
BYND Earnings Estimates For The Current Year
For the financial year, Beyond Meat Inc. [NASDAQ:BYND] is expected to bring in revenue of $411.16M. The returns are nearly $113.26 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at -0.31, lower than that of FY19 by -$0.02. Estimates put this year’s earnings growth at -6.90%, 174.20% for the next, and at an annual -224.70% over the next 5-year period. As for sales, forecasts are for an increase of 38.00% in the current fiscal year and a further 52.10% over the following year.
What are analyst thoughts on Beyond Meat Inc.?
Looking forward to the Beyond Meat Inc. share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Beyond Meat Inc. stock at $116.00 within the next 12 months, which represents almost -1.81 per cent growth from its previous closing price of $118.10. The highest analysts’ target for Beyond Meat Inc. stock projections is $150.00 and the lowest one is $55.00. Still, 22 analysts sharing their consensus rating for BYND stock in 2021 agree that it is a Hold.