Beyond Meat Inc (NASDAQ: BYND) In 2024: Reward Or Shame To Investors?

In the last trading session, 1.83 million shares of the Beyond Meat Inc (NASDAQ:BYND) were traded, and its beta was 2.42. Most recently the company’s share price was $7.62, and it changed around -$0.14 or -1.80% from the last close, which brings the market valuation of the company to $492.86M. BYND currently trades at a discount to its 52-week high of $19.25, offering almost -152.62% off that amount. The share price’s 52-week low was $5.58, which indicates that the current value has risen by an impressive 26.77% since then. We note from Beyond Meat Inc’s average daily trading volume that its 10-day average is 1.79 million shares, with the 3-month average coming to 3.67 million.

Beyond Meat Inc (NASDAQ:BYND) trade information

Instantly BYND has showed a red trend with a performance of -1.80% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -14.38% year-to-date, but still down -3.91% over the last five days. On the other hand, Beyond Meat Inc (NASDAQ:BYND) is -22.01% down in the 30-day period. We can see from the shorts that 21.78 million shares have been sold at a short interest cover period of 3.26 day(s).

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The consensus price target as assigned by Wall Street analysts is $64.22, which translates to bulls needing to increase their stock price by 88.13% from its current value. Analyst projections state that BYND is forecast to be at a low of $20 and a high of $122.

Beyond Meat Inc (BYND) estimates and forecasts

Beyond Meat Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -20.79 percent over the past six months and at a 34.92% annual growth rate that is well above the industry average of 16.50%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 28.30% in revenue this quarter, and will report an increase of 34.90% in the next quarter. The year-over-year growth rate is expected to be -4.00%, down from the previous year.

Consensus estimates provided by 9 financial analysts predict the company will bring in an average of $75.38 million in revenue for the current quarter. 9 analysts expect Beyond Meat Inc to make $96.03 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $92.24 million and $102.15 million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -18.30%. Forecasts for the next quarter put sales growth at -6.00%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -60.31%. Beyond Meat Inc earnings are expected to increase by 54.89% in 2024, but the outlook is positive 10.00% per year for the next five years.

BYND Dividends

Beyond Meat Inc’s next quarterly earnings report is expected to be released around May 08 and May 13.

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

Upon looking at major shareholders, it appears that insiders hold 8.73% of Beyond Meat Inc shares, and 38.74% of them are in the hands of institutional investors. The stock currently has a share float of 42.45%. Beyond Meat Inc stock is held by 325 institutions, with Vanguard Group Inc being the largest institutional investor. By Jun 29, 2023, it held 9.72% of the shares, which is about 6.26 million shares worth $81.22 million.

Parkwood LLC, with 8.39% or 5.4 million shares worth $70.09 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 1.78 million shares worth $23.11 million, making up 2.77% of all outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held roughly 1.58 million shares worth around $20.45 million, which represents about 2.45% of the total shares outstanding.