Beyond Meat Inc (NASDAQ:BYND) price on Tuesday, December 24, rose 0.28% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $3.55.
A look at the stock’s price movement, the close in the last trading session was $3.54, moving within a range at $3.44 and $3.64. The beta value (5-Year monthly) was 2.289. Turning to its 52-week performance, $12.12 and $3.30 were the 52-week high and 52-week low respectively. Overall, BYND moved -27.61% over the past month.
Beyond Meat Inc’s market cap currently stands at around $232.12 million, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 76.67M for the company’s revenue for the quarter, with a low and high estimate of 73.64M and 80.2M respectively. The average forecast suggests up to a 4.06% 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 325.63M, representing a -5.17% 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 -15.79% and -31.60% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 26.07, while 7-day volatility ratio is 7.14% and 5.83% in the 30-day chart. Further, Beyond Meat Inc (BYND) has a beta value of 2.26, and an average true range (ATR) of 0.26. 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 -69.01% off current price level while to achieve the yearly target high, price needs to move -69.01%. Nonetheless, investors will most likely welcome a -69.01% 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 4.03 over the past 10 days and 3.04 million over the past 3 months. The company’s latest data on shares outstanding shows there are 65.17 million shares.
The 7.06% of Beyond Meat Inc’s shares are in the hands of company insiders while institutional holders own 47.05% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 28.15 million on 2024-11-29, giving us a short ratio of 8.17. The data shows that as of 2024-11-29 short interest in Beyond Meat Inc (BYND) stood at 4508.000300000001 of shares outstanding, with shares short rising to 26.02 million registered in 2024-10-31. Current price change has pushed the stock -60.22% 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.
