Beyond Meat Inc (NASDAQ:BYND) traded with an addition of $0.19 to close at $9.64on Friday, an upside of 1.96 percent. An average of 1,789,071 shares of common stock have been traded in the last five days. There was a gain of $0.07 in the past week, and it reached a new high 10 times over the past 12 months. The last 20 days have seen an average of 1,829,138 shares traded, while the 50-day average volume stands at 1,966,723.
BYND stock has decreased by -22.24% in the last month. The company shares reached their 1-month lowest point of $9.22 on 09/27/23. With the stock rallying to its 52-week high on 02/24/23, shares of the company touched a low of $9.22 and a high of $22.87 in 52 weeks. It has reached a new high 12 times so far this year and lost -21.73% or -$2.68 in price. In spite of this, the price is down -57.87% from the 52-week high.
Insider Transactions
BYND stock investors should be aware that Beyond Meat Inc (BYND) stock had its last reported insider trading activity 289 days ago on Dec 14. In this transaction, the insider spent $405,772. CFO, Treasurer, KUTUA LUBI, disposed of 15,139 shares at a price of $14.38 on Dec 13. The insider now owns more than $217,682 worth of shares. Prior to that, Chief Brand Officer Moskowitz Beth went on to Sale 5,000 shares at $14.08 each on Dec 02. An amount of $70,388 was transacted.
Valuation Metrics
Beyond Meat Inc (BYND) has a trailing price-to-earnings (P/E) ratio of N/A for the broader industry. The stock’s beta is 2.20. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.74.
Financial Health
The quick ratio of Beyond Meat Inc for the three months ended June 29 was 5.31, and the current ratio was 9.10, indicating that the company is able to meet its debt obligations. Its gross profit as reported stood at -$23.74 million compared to revenue of $418.93 million.
Earnings Surprise
In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$53.51 million in the quarter, while revenues were shrunk -81.52%. The analyst consensus anticipated Beyond Meat Inc’s latest quarter earnings to come in at -$0.86 per share, but it turned out to be -$0.83, a 3.50% surprise. For the quarter, EBITDA amounted to -$46.89 million. Shareholders own equity worth $64.39 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Beyond Meat Inc (BYND) price momentum. RSI 9-day as of the close on 28 September was 31.38%, suggesting the stock is Neutral, with historical volatility in this time frame at 28.78%.
As of today, BYND’s price is $9.47 +0.78% or $0.07 from its 5-day moving average. BYND is currently trading -18.35% lower than its 20-day SMA and -25.94% lower than its 100-day SMA. However, the stock’s current price level is -37.68% below the SMA50 and -34.37% below the SMA200.
The stochastic %K and %D were 16.53% and 11.78%, respectively, and the average true range (ATR) was 0.47. With the 14-day stochastic at 23.06% and the average true range at 0.53, the RSI (14) stands at 30.94%. The stock has reached -0.17 on the 9-day MACD Oscillator while the 14-day reading was at -0.43.
Analyst Ratings
TD Cowen launched coverage on Beyond Meat Inc (NASDAQ: BYND) in its analyst report released on September 13, 2023. The firm assigned the stock an Underperform rating. The consensus rating for Beyond Meat Inc (BYND) among analysts is Underweight. According to current brokerage recommendations, 5 brokerage firms advise that investors sell BYND, while 9 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 0 others rate it as a “buy”.
What is BYND’s price target for the next 12 months?
Analysts predict a range of price targets between $3.00 and $13.00, with a median target of $11.00. Taking a look at these predictions, the average price target given by analysts for Beyond Meat Inc (BYND) stock is $9.95.
