Beyond Meat Inc’s (NASDAQ: BYND) Stock’s Potential for Future Price Increase

In the last trading session, 1.82 million Beyond Meat Inc (NASDAQ:BYND) shares changed hands as the company’s beta touched 2.26. With the company’s per share price at $6.68 changed hands at -$0.2 or -2.91% during last session, the market valuation stood at $431.13M. BYND’s last price was a discount, traded about -242.37% off its 52-week high of $22.87. The share price had its 52-week low at $5.58, which suggests the last value was 16.47% up since then. When we look at Beyond Meat Inc’s average trading volume, we note the 10-day average is 2.52 million shares, with the 3-month average coming to 2.06 million.

Analysts gave the Beyond Meat Inc (BYND) stock a consensus recommendation rating of an Underweight, calculated at a mean rating of 3.93. If we narrow down to specifics, the data shows that 6 out of 14 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 7 recommended BYND as a Hold, 0 felt it is a Buy and 1 rated the stock as Underweight. Beyond Meat Inc’s EPS for the current quarter is expected to be -$0.88.

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Beyond Meat Inc (NASDAQ:BYND) trade information

Instantly BYND was in red as seen at the end of in last trading. With action -3.33%, the performance over the past five days has been red. The drop to weekly highs of 7.59 on Friday, 11/17/23 subtracted -2.91% to the stock’s daily price. The company’s shares are showing year-to-date downside of -45.74%, with the 5-day performance at -3.33% in the red. However, in the 30-day time frame, Beyond Meat Inc (NASDAQ:BYND) is -10.09% down. Looking at the short shares, we see there were 26.61 million shares sold at short interest cover period of 12.16 days.

The consensus price target for the stock as assigned by Wall Street analysts is $5.75, meaning bulls need a downside of -16.17% from its current market value. According to analyst projections, BYND’s forecast low is $3.00 with $9.00 as the target high. To hit the forecast high, the stock’s price needs a -34.73% plunge from its current level, while the stock would need to tank 55.09% for it to hit the projected low.

Beyond Meat Inc (BYND) estimates and forecasts

Data shows that the Beyond Meat Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -37.63% over the past 6 months, a 36.70% in annual growth rate that is considerably higher than the industry average of 8.50%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Beyond Meat Inc will rise 16.20%, while the growth in revenue is estimated to hit 13.00% for the next quarter. Year-over-year growth is forecast to reach -19.70% down from the last financial year.

Consensus estimates given by 11 financial analysts project the company’s revenue in the current quarter to hit an average of $66.66 million. 8 analysts are of the opinion that Beyond Meat Inc’s revenue for the quarter ending Mar 2024 will be $88.64 million. The company’s revenue for the corresponding quarters a year ago was $79.94 million and $92.24 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -16.60%. The estimates for the next quarter sales put growth at -3.90%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -62.69%. The 2023 estimates are for Beyond Meat Inc earnings to increase by 34.80%, but the outlook for the next 5-year period is at 10.00% per year.

BYND Dividends

Beyond Meat Inc is expected to release its next quarterly earnings report on November 08.

Beyond Meat Inc (NASDAQ:BYND)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 9.16% of Beyond Meat Inc shares while 37.27% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 41.03%. There are 37.27% institutions holding the Beyond Meat Inc stock share, with Vanguard Group Inc the top institutional holder. As of Sep 29, 2023, the company held 9.71% of the shares, roughly 6.26 million BYND shares worth $41.85 million.

Parkwood LLC holds the second largest percentage of outstanding shares, with 8.37% or 5.4 million shares worth $36.07 million as of Sep 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. With 1.78 million shares estimated at $11.89 million under it, the former controlled 2.76% of total outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held about 2.44% of the shares, roughly 1.58 million shares worth around $10.52 million.

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