Analyst Predicts a Rebound for Struggling BYND Stock

The analyst called it one of the "best positioned" plant-based brands

Digital Content Manager
Nov 14, 2019 at 9:50 AM
facebook X logo linkedin

Beyond Meat Inc (NASDAQ:BYND) just received yet another analyst note today, this time courtesy of Berenberg, which initiated coverage with a "buy" rating, and a $100 price target. The broker predicted that the faux-meat stock was on the precipice of "its second evolution," adding it can capture more market share. BYND is up 2.5% in response, to trade at $80.71. 

Despite the pop, BYND has a ways to go before getting back where it was on the charts only a few weeks ago. Since its all-time high above $230 in late July, the stock has been in a near continuous downward spiral, now roughly 66% off its peak. With several more recent attempts to break out capped by its 40-day moving average, BYND is now eyeing its fourth consecutive month in the red.

Most analysts are still approaching BYND with caution. Prior to today, seven "hold" or worse ratings were on the table, compared to only three "buys." The consensus 12-month target price of $115.82, on the other hand, is a roughly 43% premium to last night's close. 

Puts have been running slightly hotter than calls of late, too. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), BYND sports a 50-day put/call ratio of 1.11. There's still plenty of room to speculate on BYND's next move with options, however. The security's Schaeffer's Volatility Index (SVI) of 56% sits in the extremely low 4th percentile of its annual range, suggesting near-term options traders are pricing in relatively low volatility expectations. 



How to collect 1 dividend check every day for LIFE

Did you know you could collect 1 dividend check every day the market is open? You could also do it starting with just $605! For me, I'm collecting 70 dividend checks every quarter…which averages around 1.1 dividend checks every business day. There's no trading behind this... no penny stocks or high-risk investments. All you do is buy and hold and you're set. There's no set up required either. If you start buying the dividend stocks I show you today... you could collect 1 dividend per day starting as early as this week. Click here for all the details.