Does Beyond Meat Inc. (BYND) offer a good opportunity for investors?

Beyond Meat Inc. (NASDAQ: BYND) stock fell -1.24% on Friday to $10.35 against a previous-day closing price of $10.48. With 2.83 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.73 million shares. During the session, the Packaged Foods company that operates in wider Consumer Defensive sector, reached to the highest price of $10.46 whereas the lowest price it dropped to was $10.07. The 52-week range on BYND shows that it touched its highest point at $22.87 and its lowest point at $9.81 during that stretch. It currently has a 1-year price target of $10.45. Beta for the stock currently stands at 2.18.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BYND was down-trending over the past week, with a drop of -5.39%, but this was down by -15.79% over a month. Three-month performance dropped to -20.81% while six-month performance fell -38.58%. The stock lost -48.58% in the past year, while it has lost -15.92% so far this year. A look at the trailing 12-month EPS for BYND yields -4.40 with Next year EPS estimates of -2.76. For the next quarter, that number is -0.84. This implies an EPS growth rate of -99.60% for this year and 18.10% for next year.

Float and Shares Shorts:

At present, 64.25 million BYND shares are outstanding with a float of 58.50 million shares on hand for trading. On Aug 30, 2023, short shares totaled 21.98 million, which was 34.13% higher than short shares on Jul 30, 2023. In addition to Mr. Ethan Brown as the firm’s Founder, Pres, CEO & Director, Mr. Lubi Kutua serves as its VP of FP&A & Investor Relations, CFO and Treasurer.

Institutional Ownership:

Through their ownership of 37.27% of BYND’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 20.65% of BYND, in contrast to 19.33% held by mutual funds. Shares owned by individuals account for 18.73%. As the largest shareholder in BYND with 9.46% of the stake, The Vanguard Group, Inc. holds 6,091,722 shares worth 6,091,722. A second-largest stockholder of BYND, BlackRock Fund Advisors, holds 3,721,752 shares, controlling over 5.78% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in BYND, holding 1,344,027 shares or 2.09% stake. With a 2.86% stake in BYND, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 1,838,192 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 2.47% of BYND stock, is the second-largest Mutual Fund holder. It holds 1,592,072 shares valued at 18.79 million. iShares Russell 2000 ETF holds 2.09% of the stake in BYND, owning 1,342,370 shares worth 15.84 million.


An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 30, 2023, BYND reported revenue of $147.04M and operating income of -$85.38M. The EBITDA in the recently reported quarter was -$90.28M and diluted EPS was -$1.53.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BYND since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With BYND analysts setting a high price target of $13.00 and a low target of $4.50, the average target price over the next 12 months is $10.45. Based on these targets, BYND could surge 25.6% to reach the target high and fall by -56.52% to reach the target low. Reaching the average price target will result in a growth of 0.97% from current levels.


EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded BYND stock several times over the past three months with 1 Buys and 2 Sells. In these transactions, 3,841 shares were bought while 433 shares were sold. The number of buy transactions has increased to 24 while that of sell transactions has risen to 73 over the past year. The total number of shares bought during that period was 857,727 while 121,123 shares were sold.

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