Beyond Meat Inc [NASDAQ: BYND] stock went on an upward path that rose over 8.17% on Wednesday, amounting to a one-week price increase of more than 9.91%. The company report on February 27, 2024 at 4:05 PM that Beyond Meat® Reports Fourth Quarter and Full Year 2023 Financial Results.
Over the last 12 months, BYND stock dropped by -49.60%. The one-year Beyond Meat Inc stock forecast points to a potential downside of -26.71. The average equity rating for BYND stock is currently 3.79, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $573.71 million, with 64.62 million shares outstanding and 60.46 million shares in the current float. Compared to the average trading volume of 3.87M shares, BYND stock reached a trading volume of 3407099 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $7.00 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 3.79. 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.
Argus have made an estimate for Beyond Meat Inc shares, keeping their opinion on the stock as Hold, with their previous recommendation back on February 29, 2024. The new note on the price target was released on November 13, 2023, representing the official price target for Beyond Meat Inc stock. Previously, the target price had yet another drop from $12 to $5, while Mizuho kept a Underperform rating on BYND stock.
The Average True Range (ATR) for Beyond Meat Inc is set at 0.85, with the Price to Sales ratio for BYND stock in the period of the last 12 months amounting to 1.67.
BYND Stock Performance Analysis:
Beyond Meat Inc [BYND] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.91. With this latest performance, BYND shares gained by 27.99% in over the last four-week period, additionally sinking by -18.02% over the last 6 months – not to mention a drop of -49.60% 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 57.85, with the RSI for the last a single of trading hit 59.45, and the three-weeks RSI is set at 56.42 for Beyond Meat Inc [BYND]. The present Moving Average for the last 50 days of trading for this stock 7.59, while it was recorded at 8.22 for the last single week of trading, and 9.92 for the last 200 days.
Insight into Beyond Meat Inc Fundamentals:
Beyond Meat Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.26 and a Current Ratio set at 5.01.
BYND Stock EPS
With the latest financial reports released by the company, Beyond Meat Inc posted -0.92/share EPS, while the average EPS was predicted by analysts to be reported at -1.01/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 8.90%. 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%.
Beyond Meat Inc [BYND] Institutonal Ownership Details
The top three institutional holders of BYND stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in BYND stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in BYND stock with ownership which is approximately 5.8325%.
