Beyond Meat Inc (NASDAQ:BYND) price on current trading day, fall -2.47% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $4.55.
A look at the stock’s price movement, the level at last check in today’s session was $4.66, moving within a range at $4.52 and $4.677. The beta value (5-Year monthly) was 2.289. Turning to its 52-week performance, $12.12 and $4.62 were the 52-week high and 52-week low respectively. Overall, BYND moved -28.76% over the past month.
Beyond Meat Inc’s market cap currently stands at around $296.35 million, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 76.72M for the company’s revenue for the quarter, with a low and high estimate of 74M and 80.2M respectively. The average forecast suggests up to a 4.13% 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 325.58M, representing a -5.18% 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 -10.52% and -23.11% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 31.73, while 7-day volatility ratio is 3.58% and 5.60% in the 30-day chart. Further, Beyond Meat Inc (BYND) has a beta value of 2.23, and an average true range (ATR) of 0.27. Analysts have given the company’s stock an average 52-week price target of $6, forecast between a low of $6 and high of $6. Looking at the price targets, the low is -31.87% off recent price level in today’s trading while to achieve the yearly target high, it has to move -31.87%. Nonetheless, investors will most likely welcome a -31.87% jump to $6 which is the analysts’ median price.
If we refocus on Beyond Meat Inc (NASDAQ:BYND), historical trading data shows that trading volumes averaged 3.73 over the past 10 days and 2.56 million over the past 3 months. The company’s latest data on shares outstanding shows there are 65.17 million shares.
The 6.35% of Beyond Meat Inc’s shares are in the hands of company insiders while institutional holders own 47.10% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 27.9 million on 2024-11-15, giving us a short ratio of 10.39. The data shows that as of 2024-11-15 short interest in Beyond Meat Inc (BYND) stood at 4468.0 of shares outstanding, with shares short rising to 26.15 million registered in 2024-10-15. Current price change has pushed the stock -48.93% 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.
