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Monday, October 19, 2020

Investor Confidence is Falling for Beyond Meat Inc. (NASDAQ:BYND)

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Beyond Meat Inc. (BYND) shares are trading at lower $192.30 and the avg recommendation for the stock is Moderate Buy, while the current analyst price target stands at $126.26.

To add more color to this target, the company’s high over the last year is $197.50 and the low is $48.18. Over the last 52 weeks, BYND is up 46.36% while the S&P 500 is up 18.95%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, BYND reported a profit of $33.65 million. Beyond Meat Inc. also saw revenues increase to $113.34 million. In addition, BYND has free cash flow of -$72.65 million as of 06-2020. The company’s EBITDA came in at -$4.86 million which compares well with its peers.

BYND booked profit margins of -1.20%, its Return on Equity (ROE) is -1.20%, and its Return on Assets is -1.00%. All told, it is clear that, BYND needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. BYND has a short ratio of 1.46 and outstanding shares of 62.10M.

Company Outlook

BYND has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 4.96 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -0.08. Beyond Meat Inc. BYND also noted assets of $517.97 million at the end of the last quarter. Investors should also keep an eye on sector updates as BYND has historically followed its peers on positive news.

All told, Beyond Meat Inc. BYND has strung together solid data and demonstrated underlying fundamentals. At its current valuation, BYND represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Beyond Meat Inc. BYND is now commanding a market cap of 11.91B and a float of 54.58M. BYND is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of BYND stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in BYND, either long or short, and we have not been compensated for this article.

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