Beyond Meat Inc. [NASDAQ: BYND] gained 12.39% or 1.72 points to close at $15.60 with a heavy trading volume of 3772339 shares. The company report on November 14, 2022 that Beyond Meat® and American Cancer Society to Advance Research on Plant-Based Meat and Cancer Prevention.
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“American Cancer Society guidelines have long recommended a diet rich in plant foods with limited intake of processed and red meat,” said William L. Dahut, M.D., Chief Scientific Officer at the American Cancer Society. “While short-term research studies have shown that switching to plant-based meat improves risk factors for heart disease, including cholesterol levels and body weight, research in this area is still in its early stages, particularly in relation to cancer.”.
It opened the trading session at $13.85, the shares rose to $15.69 and dropped to $13.50, the range by which the price of stock traded the whole day. The daily chart for BYND points out that the company has recorded -37.72% loss over the past six months. However, it is still -34.95% lower than its most recent low trading price.
If we look at the average trading volume of 3.22M shares, BYND reached to a volume of 3772339 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Beyond Meat Inc. [BYND]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BYND shares is $14.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BYND stock is a recommendation set at 3.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Barclays have made an estimate for Beyond Meat Inc. shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on November 28, 2022. While these analysts kept the previous recommendation, Goldman raised their target price from $14 to $5. The new note on the price target was released on November 23, 2022, representing the official price target for Beyond Meat Inc. stock. Previously, the target price had yet another drop from $12 to $9, while Piper Sandler kept a Underweight rating on BYND stock. On May 12, 2022, analysts decreased their price target for BYND shares from 80 to 25.
The Average True Range (ATR) for Beyond Meat Inc. is set at 1.25, with the Price to Sales ratio for BYND stock in the period of the last 12 months amounting to 2.26.
Trading performance analysis for BYND stock
Beyond Meat Inc. [BYND] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.92. With this latest performance, BYND shares gained by 17.29% in over the last four-week period, additionally sinking by -37.72% over the last 6 months – not to mention a drop of -78.11% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BYND stock in for the last two-week period is set at 58.90, with the RSI for the last a single of trading hit 65.79, and the three-weeks RSI is set at 53.67 for Beyond Meat Inc. [BYND]. The present Moving Average for the last 50 days of trading for this stock 14.12, while it was recorded at 14.36 for the last single week of trading, and 28.26 for the last 200 days.
Beyond Meat Inc. [BYND]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Beyond Meat Inc. [BYND] shares currently have an operating margin of -34.25 and a Gross Margin at +24.38. Beyond Meat Inc.’s Net Margin is presently recorded at -39.19.
Return on Equity for this stock declined to -72.90, with Return on Assets sitting at -19.71.
Beyond Meat Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.00 and a Current Ratio set at 7.70.
Beyond Meat Inc. [BYND]: An earnings per share (EPS) analysis
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BYND. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Beyond Meat Inc. go to 10.00%.
An analysis of insider ownership at Beyond Meat Inc. [BYND]
There are presently around $420 million, or 43.20% of BYND stock, in the hands of institutional investors. The top three institutional holders of BYND stocks are: VANGUARD GROUP INC with ownership of 5,709,781, which is approximately 2.704% of the company’s market cap and around 1.30% of the total institutional ownership; BLACKROCK INC., holding 3,960,390 shares of the stock with an approximate value of $61.78 million in BYND stocks shares; and GOLDMAN SACHS GROUP INC, currently with $22.99 million in BYND stock with ownership of nearly 31.751% of the company’s market capitalization.
Positions in Beyond Meat Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 108 institutional holders increased their position in Beyond Meat Inc. [NASDAQ:BYND] by around 3,390,784 shares. Additionally, 139 investors decreased positions by around 15,801,007 shares, while 88 investors held positions by with 7,754,145 shares. The mentioned changes placed institutional holdings at 26,945,936 shares, according to the latest SEC report filing. BYND stock had 35 new institutional investments in for a total of 1,078,522 shares, while 61 institutional investors sold positions of 3,298,073 shares during the same period.