Beyond Meat, Inc. (NASDAQ:BYND) is seeing a large increase in short interest

Beyond Meat, Inc. (NASDAQ:BYND – Get Free Report ) saw a large increase in short interest in July. As of July 31st, there was short interest totaling 24,940,000 shares, an increase of 5.7% from the July 15th total of 23,590,000 shares. Based on an average daily volume of 3,310,000 shares, the short interest rate is currently 7.5 days. About 41.1% of the company’s shares are short sold.

Institutional investors weigh in beyond the meat

Several institutional investors and hedge funds have recently bought and sold shares of the company. Banque Cantonale Vaudoise raised its stake in Beyond Meat by 117.4% in the first quarter. Banque Cantonale Vaudoise now owns 3,220 shares of the company’s stock valued at $26,000 after acquiring an additional 1,739 shares during the period. Canada Pension Plan Investment Board acquired a new stake in Beyond Meat in the second quarter valued at $41,000. Quest Partners LLC bought a new position in shares of Beyond Meat during the fourth quarter valued at $48,000. Scarborough Advisors LLC bought a new stake in shares of Beyond Meat in the 4th quarter valued at approximately $62,000. Finally, ProShare Advisors LLC purchased a new stake in shares of Beyond Meat in the 1st quarter worth about $88,000. Institutional investors own 52.48% of the company’s shares.

Analyst upgrades and downgrades

BYND has been the subject of a number of research reports. Goldman Sachs Group dropped their price objective on Beyond Meat from $4.00 to $3.50 and set a “sell” rating on the stock in a report on Thursday, May 9th. BMO Capital Markets cut their price target on shares of Beyond Meat from $9.00 to $6.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. Canaccord Genuity Group cut their price objective on shares of Beyond Meat from $9.00 to $7.00 and set a “hold” rating for the company in a report on Friday, May 10th. Finally, Mizuho cut their price target on Beyond Meat from $7.00 to $6.00 and set an “underperform” rating on the stock in a report on Monday, April 22nd. Six equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The company currently has an average rating of “Reduce” and a consensus price target of $5.19, based on data from MarketBeat.com.

Check out our latest research report on BYND

Beyond meat stock performance

Shares of Beyond Meat stock opened at $6.14 on Monday. The company has a market cap of $398.39 million, a price-to-earnings ratio of -1.19 and a beta of 2.26. Beyond Meat has a 1 year low of $5.13 and a 1 year high of $12.53. The company’s fifty-day simple moving average is $6.43, and its 200-day simple moving average is $7.10.

Beyond Meat (NASDAQ:BYND – Get Free Report ) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.02). The business had revenue of $93.19 million during the quarter, compared to analysts’ expectations of $87.81 million. The company’s quarterly revenue was down 8.8% year-over-year. During the same period last year, the company posted ($0.83) earnings per share. As a group, research analysts forecast that Beyond Meat will post -2.11 earnings per share for the current fiscal year.

About Beyond Meat

(Get a free report)

Beyond Meat, Inc, a plant-based meat company, develops, manufactures, markets and sells plant-based meat products in the United States and internationally. The company sells a range of plant-based meat products across beef, pork and poultry platforms. It sells its products through grocery stores, meal stores, club stores, and natural retailer channels, as well as various away-from-home food channels, including restaurants, grocery stores, and schools.

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