Beyond Meat Inc (NASDAQ: BYND) stock fell -0.15% on Monday to $6.67 against a previous-day closing price of $6.68. With 2.41 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.06 million shares. During the session, the Packaged Foods company that operates in wider Consumer Defensive sector, reached to the highest price of $6.78 whereas the lowest price it dropped to was $6.47. The 52-week range on BYND shows that it touched its highest point at $22.87 and its lowest point at $5.58 during that stretch. It currently has a 1-year price target of $5.75. Beta for the stock currently stands at 2.25.
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 up-trending over the past week, with a rise of 4.38%, but this was down by -2.41% over a month. Three-month performance dropped to -42.25% while six-month performance fell -38.53%. The stock lost -52.15% in the past year, while it has lost -45.82% so far this year. A look at the trailing 12-month EPS for BYND yields -3.90 with Next year EPS estimates of -3.04. For the next quarter, that number is -0.89. This implies an EPS growth rate of 34.80% for this year and 18.80% for next year. EPS is expected to grow by 10.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -62.69%.
Float and Shares Shorts:
At present, 63.77 million BYND shares are outstanding with a float of 60.83 million shares on hand for trading. On Oct 30, 2023, short shares totaled 26.61 million, which was 41.28% higher than short shares on Sep 28, 2023. In addition to Mr. Ethan Brown as the firm’s Founder, President, CEO & Director, Mr. Lubi Kutua serves as its VP of FP&A & Investor Relations, CFO and Treasurer.
Through their ownership of 37.27% of BYND’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 30.60% of BYND, in contrast to 20.56% held by mutual funds. Shares owned by individuals account for 19.34%. As the largest shareholder in BYND with 9.47% of the stake, The Vanguard Group, Inc. holds 6,097,843 shares worth 6,097,843. A second-largest stockholder of BYND, Parkwood LLC, holds 5,400,000 shares, controlling over 8.39% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in BYND, holding 3,729,981 shares or 5.79% stake. With a 2.99% stake in BYND, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 1,926,592 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 2.44% of BYND stock, is the second-largest Mutual Fund holder. It holds 1,571,911 shares valued at 9.38 million. iShares Russell 2000 ETF holds 2.13% of the stake in BYND, owning 1,368,082 shares worth 8.17 million.
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 $9.00 and a low target of $3.00, the average target price over the next 12 months is $5.75. Based on these targets, BYND could surge 34.93% to reach the target high and fall by -55.02% to reach the target low. Reaching the average price target will result in a decline of -13.79% from current levels.
Summary of Insider Activity:
Insiders traded BYND stock several times over the past three months with 0 Buys and 18 Sells. In these transactions, 0 shares were bought while 4,273 shares were sold. The number of buy transactions has increased to 22 while that of sell transactions has risen to 89 over the past year. The total number of shares bought during that period was 788,018 while 124,933 shares were sold.