Beyond Meat Stock Lower After Investor Reveals Stake

There is a great deal of pessimism surrounding the stock

Deputy Editor
Sep 2, 2022 at 10:55 AM
facebook twitter linkedin

Beyond Meat Inc (NASDAQ:BYND) is down 4.4% at $23.50 at last glance, after Baillie Gifford reported a 6.61% passive stake in the plant-based giant as of August 31. The investment firm had previously reported a 13.38% stake on December 31, 2021. 

On the charts, BYND is on track for its fourth-straight week of losses. Currently below all key short- and long-term daily moving averages, the 10-day trendline is providing immediate pressure as of late. Year-to-date, the equity is down 62.1%.

Both analysts and options traders are extremely pessimistic towards Beyond Meat stock. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock sports a 50-day put/call volume ratio of 1.29. This ratio ranks higher than 94% of readings from the past year, showing puts being picked up at a much faster-than-usual clip. 

Of the 13 analysts in coverage, 10 carry a tepid "hold" rating, with three a "sell" or worse. Plus, the 12-month consensus price target of $23.27 is roughly in line with current levels, despite the stock's recent underperformance. 

Though short interest has started to unwind, it still makes up a hefty 33.6% of the stock's available float. It's also worth noting that BYND's 14-day relative strength index (RSI) of 8.3 sits firmly in "oversold" territory. 


Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

Schaeffer's Daily Bulletin Offer


Special Offers from Schaeffer's Trading Partners