Beyond Meat Inc NASDAQ: BYND Fell 4.80%, Now What? Dont Panic

These figures represent -56.10% and 28.80% growth in EPS for the two years respectively. Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was 1 upward and no downward review. Turning to the stock’s technical picture we see that short term indicators suggest on BYND stock price today average that BYND is a 100% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category. With a market capitalization of $850 million, Beyond Meat is still valued at about two times its latest revenue guidance for 2022.

Wall Street analysts have also projected the company’s year-on-year revenue for 2022 to grow to $561.71 million, representing a 20.90% jump on that reported in the last financial year. Beyond Meat Inc.’s market cap currently stands at around $909.58 million, with investors looking forward to this quarter’s earnings report slated for Nov 09, 2022. Analysts project the company’s earnings DotBig per share to be -$1.18, which has seen fiscal year 2022 EPS growth forecast to increase to -$4.48 and about -$3.19 for fiscal year 2023. Per the data, EPS growth is expected to be -56.10% for 2022 and 28.80% for the next financial year. The 2.50% of Beyond Meat Inc.’s shares are in the hands of company insiders while institutional holders own 57.50% of the company’s shares.

• Chief Growth Officer and North American President Deanna Jurgens was laid off as part of that restructuring, while CFO Phil Hardin resigned ahead of that announcement.
• Kutua’s annual base salary at Beyond Meat will increase to $375,000 and he’ll have the opportunity to earn an increased annual bonus at a target amount of 50% of his base salary, according to the filing.
• Six equities research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock.
• The People for the Ethical Treatment of Animals named Beyond Meat as its Company of the Year for 2013.

Announced on Oct. 14 it was slashing about one-fifth of its workforce as inflation takes a bite out of sales, leading the plant-based meat company to reduce its full-year revenue outlook. Despite cutting costs to the bone, it’s increasingly difficult to see how Beyond Meat can break out of this rut. The company has a 50-day moving average of $20.01 and a 200-day moving average of $27.65.

Beyond Meat Cuts 200 Employees—Here Are The Biggest U.S. Layoffs This Year

The company’s initial products were launched in the United States in 2012. The https://dotbig.com/markets/stocks/BYND/ company offers plant-based options in the beef, pork and poultry categories.

Rampant inflation is hitting sales hard as consumers trade down to cheaper proteins. The company announced in 2014 that it had begun development of a new product emulating a beef burger, which was released in February 2015. In March 2019, a civil suit was filed against Beyond Meat by its former business partner and supplier, Don Lee Farms. This was prompted by Beyond Meat’s switch to different Beyond Meat Incorporated stock suppliers, with whom they then shared details about the manufacturing process. Also in January 2021, Beyond Meat and PepsiCo announced a joint venture, called The PLANeT Partnership, to develop and market plant-based snacks and drinks. In November 2020, Beyond Meat announced a collaboration with McDonald’s for development of the McPlant option, a plant-based patty and chicken substitute.

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Canaccord Genuity Group lowered their target price on Beyond Meat from $22.00 to $15.00 and set a “hold” rating for the company in a report on Wednesday, October 12th. Piper Sandler lowered their target price on Beyond Meat from $9.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, September DotBig 21st. Citigroup upped their target price on Beyond Meat from $14.00 to $15.00 and gave the stock a “hold” rating in a report on Monday, October 17th. Bank of America lowered their target price on Beyond Meat from $20.00 to $10.00 and set an “underperform” rating for the company in a report on Friday, August 5th.

In terms of its 52-week price range, BYND has a high of $115.48 and a low of $19.35. According to 25 analysts, the average rating for BYND stock is "Sell." The 12-month stock price forecast is 21.42, which is an increase of 69.60% from the latest price. https://dotbig.com/markets/stocks/BYND/ A financial holding company, a medical device company, and three more microcap stocks could see a spike in share prices… All due to an earnings announcement coming very soon. Now’s your chance to see the opportunity provided by these 5 microcap stocks.

Volatility profiles based on trailing-three-year calculations of the standard deviation of service investment returns. Beyond Meat isn’t profitable yet, and its net loss more than quadrupled year over year to $198 million on just $256 million in revenue in the first half of 2022 as it liquidated its inventories. Those losses were exacerbated by the launch of Beyond Jerky, which failed to meet its initial sales expectations, through a joint venture with PepsiCo. Second, Beyond Meat announced that it would lay off another 19% of its workforce by the end of the year. Chief Growth Officer and North American President Deanna Jurgens was laid off as part of that restructuring, while CFO Phil Hardin resigned ahead of that announcement.

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Also important is the data on short interest which shows that short shares stood at 21.53 million on Jul 14, 2022, giving us a short ratio of 6.88. The data shows that as of Jul 14, 2022 short interest in Beyond Meat Inc. stood at 33.89% of shares outstanding, with shares short falling to 23.37 million registered in Jun 14, 2022. Current price change has pushed the stock -80.20% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the BYND stock continues to rise going into the next quarter. Beyond Meat Inc. shares fell on Friday, after the plant-based food company issued a revenue warning, announced a fresh round of job cuts, and fired an executive who allegedly bit a man’s nose.

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And, Deanna Jurgens, the president of North America and global chief growth officer is leaving, and that role is being eliminated. Douglas W. Ramsey, Beyond Meat’s chief operating officer for less than a year, had his last day on the job on Oct. 14, according to the company’s 8-K document. Ramsey had been on suspension since Sept. 20 after being arrested following a college football https://dotbig.com/ game in Fayetteville, Ark. That would represent the company’s first-ever drop in annual sales. The decline in gas prices for the month also could not come close to ameliorating the fact the price at the pump remains almost 20% higher than it was last year. Beyond Meat, Inc. is a Los Angeles–based producer of plant-based meat substitutes founded in 2009 by Ethan Brown.

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The Company’s product offerings include Beyond Burger, Cookout Classic, Beyond Sausage, Beyond Beef, Beyond Meatballs, Beyond Breakfast Sausage Patties, Beyond Breakfast Sausage Links, Beyond Beef… In May 2019, Beyond Meat went Beyond Meat Incorporated stock public and trades on the United States Nasdaq exchange under the symbol BYND. On the day of its IPO, the company was valued at $3.8 billion and was the best-performing public offering by a major U.S. company in almost two decades.

Beyond Meat Inc. stock underperforms Friday when compared to competitors

Parallel Advisors LLC increased its stake in Beyond Meat by 110.3% in the 1st quarter. Parallel Advisors LLC now owns 614 shares of the company’s stock worth $30,000 after acquiring an additional 322 shares during the last quarter. Treasurer of the State of North Carolina increased its stake in Beyond Meat by 1.6% in the 1st quarter. Treasurer of the State of North Carolina now owns 21,114 shares of the company’s stock worth $1,020,000 after acquiring an additional 330 shares during the last quarter. Victory Capital Management Inc. increased its stake in Beyond Meat by 4.5% in the 1st quarter. Victory Capital Management Inc. now owns 7,803 shares of the company’s stock worth $288,000 after acquiring an additional 339 shares during the last quarter. Finally, Ensign Peak Advisors Inc increased its stake in Beyond Meat by 1.9% in the 1st quarter.