BYND Drops After Expanding Production to Europe

The equity is up 117% for the quarter, however

Digital Content Manager
Jun 11, 2020 at 3:27 PM
facebook twitter linkedin


The shares of Beyond Meat Co (NASDAQ: BYND) are down 6.9% at $143.72 this afternoon after the meat-alternative brand announced expanded local production capabilities in Europe through its first co-manufacturing facility in the Netherlands. The facility will produce the company's signature plant-based burgers and sausage products, which are to be more efficiently distributed across Europe, Asia, and the Middle East.

On the charts, BYND has fully recovered from the mid-March lows near the $48 level. In fact, shares are now considerably higher than they were in early February, before the coronavirus pandemic. The stock's 20-day moving average has helped keep the shares in check, though it still has a long way to go before it reaches its 2019 all-time-high of $239.71 again. Nonetheless, BYND is rallying support with a 117% lead for the quarter. 


Despite the positive price action, analysts are mostly hesitant toward BYND, with 11 of the 15 in question carrying a tepid "hold" or worse recommendation, while the remaining four consider it a "strong buy." Meanwhile, the 12-month consensus target price of $95.95 is a whopping 33.86% discount to current levels. 

In the options pits, however, the appetite for calls is exceptionally high. In the last 50 days, 2.37 calls were bought for every put at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). This ratio sits higher than all readings from the past year, meaning calls are being picked up at a faster-than-usual clip of late. 

 

Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 

 


 


 
Special Offers from Schaeffer's Trading Partners