Beyond Meat Inc (NASDAQ:BYND) price on Wednesday, November 13, rose 4.36% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $5.27.
A look at the stock’s price movement, the close in the last trading session was $5.05, moving within a range at $5.02 and $5.325. The beta value (5-Year monthly) was 2.289. Turning to its 52-week performance, $12.12 and $5.00 were the 52-week high and 52-week low respectively. Overall, BYND moved -20.15% over the past month.
Beyond Meat Inc’s market cap currently stands at around $343.62 million, with investors looking forward to this quarter’s earnings report slated for in December.
Analysts have a consensus estimate of 75.95M for the company’s revenue for the quarter, with a low and high estimate of 70.7M and 80.2M respectively. The average forecast suggests up to a 3.10% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 325.87M, representing a -5.10% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on 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.
11 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 4 analyst(s) rate the stock as a Hold, 1 recommend BYND as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 6 say it is a Sell. As such, the average rating for the stock is Sell which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
BYND’s current price about -13.20% and -16.34% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 36.11, while 7-day volatility ratio is 7.31% and 5.33% in the 30-day chart. Further, Beyond Meat Inc (BYND) has a beta value of 2.24, and an average true range (ATR) of 0.36. Analysts have given the company’s stock an average 52-week price target of $25, forecast between a low of $3 and high of $122. Looking at the price targets, the low is 43.07% off current price level while to achieve the yearly target high, price needs to move -2214.99%. Nonetheless, investors will most likely welcome a -374.38% jump to $25 which is the analysts’ median price.
If we refocus on Beyond Meat Inc (NASDAQ:BYND), historical trading data shows that trading volumes averaged 3.76 over the past 10 days and 2.28 million over the past 3 months. The company’s latest data on shares outstanding shows there are 64.62 million shares.
The 6.35% of Beyond Meat Inc’s shares are in the hands of company insiders while institutional holders own 43.54% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 26.02 million on 2024-10-31, giving us a short ratio of 14.88. The data shows that as of 2024-10-31 short interest in Beyond Meat Inc (BYND) stood at 4168.9998000000005 of shares outstanding, with shares short rising to 24.77 million registered in 2024-09-30. Current price change has pushed the stock -40.79% 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.
