Q2 STOCKS TO BUY

Beyond Meat Stock Sours on Analyst Bear Note

The firm noted increasing competition for plant-based meat substitutes

Deputy Editor
Mar 28, 2022 at 10:37 AM
facebook X logo linkedin


The shares of Beyond Meat Inc (NASDAQ:BYND) are down 1.8% at $47.75 this morning, following a downgrade from Piper Sandler to "neutral" from "underweight." The analyst also cut its price target to $29 from $50, saying the the competition for plant-based meat substitutes is heating up, while the rollout of the company's products at McDonald's (MCD) across the U.S. is seeing lukewarm expectations.

Piper Sandler is joining a pessimistic brokerage bunch. Coming into today, 10 of the 13 covering analysts considered Beyond Meat stock a "hold," while two more said "sell" or worse. Meanwhile, the 12-month consensus target price of $48.13 is a slim 1% discount to BYND's Friday close.

The options pits are similarly bearish, per the equity's 10-day put/call volume ratio of 1.52 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which stands higher than 98% of readings from the past 12 months. This shows puts outpacing calls overall, with an unusually healthy appetite for the bearish bets.

Options traders today are following suit. Already, 4,745 puts have crossed the tape, which is double the intraday average and more than the 3,074 calls. Most popular by far is the weekly 4/1 47-strike put, where new positions are being opened.

On the charts, March 15 saw BYND log an all-time low of $35.74. While it's distanced itself slightly from this low, the 50-day moving average continues to be a trendline to watch, as it just rejected a rally last week. Beyond Meat stock has shed more than 25% year-to-date.  

 
 

“Buy This Stock Now!” - Expert Who Called 11x On TSLA

He called a rare 11x on Tesla…

But now, thanks to Elon & Trump’s new alliance…

He says there’s a new opportunity that could be 1,000x BIGGER than Tesla – and it could completely revolutionize a $23 Trillion market.

It’s trading for less than $5 per share right now…

But it won’t be under the radar for long.

Discover The 1,000x Bigger Elon Opportunity Here

GRAND SLAM COUNTDOWN

 
 

Featured Articles from Trusted Partners:

👀Learn How Dividends Create Passive Income for Life
Receive $200 Off Motley Fool Epic. The Motley Fool Epic $299 discounted offer is based on $499/year list price. Introductory promotion for new members only. Take control of your money and your portfolio with Motley Fool Epic.

💵New Income System Could Pay You $4,243 Monthly
You could collect an average of $4,243 per month starting as early as next week with a new payout system for income investors. New registrations are being accepted for investors who want to be in a position to start with their first payout next week.

🚀Easy 92% Crypto Dividends (No Coins Required)
COIN stock doesn't pay a dividend... But there's actually a new way to collect a massive dividend that's indirectly based on the stock and offers a terrific monthly income (currently yielding nearly 92% on a forward basis).

🤝Free Advisor Match with Wiseradvisor.com
Don't leave your retirement to chance! Get matched with a trusted financial expert for FREE and make the most of your tax refund. Get started now.

⚠️Dennis Quaid's #1 Warning for Americans
Here's the thing: life doesn't come with guarantees. The economy shifts, markets stumble, and years of hard work could slip through your fingers like sand. But it doesn't have to be that way for you. So request a free copy of this Gold & Silver Guide that will arrive right to your doorstep when you act now.

 

 
 

Follow us on X, Follow us on Twitter