Beyond Meat Inc BYND shares are trading lower in Monday’s after-hours session after the company filed for a mixed securities shelf offering.

What Happened: After the market close on Monday, Beyond Meat said it may offer and sell up to $250 million of securities from time to time in one or more offerings. The securities available may include common stock, preferred stock, debt securities, warrants, purchase contracts or units.

Beyond Meat just reported earnings at the end of February. The company said it had $205.9 million in cash, cash equivalents and restricted cash and $1.1 billion in debt as of Dec. 31.

Beyond Meat shares have underperformed the broader market in recent years. The stock got a lift from earnings last month, but it had already given back most of its gains. Beyond Meat shares are down about 45% over a one-year period.

Check This Out: Is Reddit’s IPO Another ‘Moon Right Away’ Story Like Rivian, Beyond Meat?

BYND Stock Prediction 2024

Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.

Shares of Beyond Meat have an average one-year price target of $8.50, representing an expected upside of 2.29% from current levels.

Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. The street high price target from BMO Capital is $10, while the street low from Mizuho is $7.

BYND Price Action: Beyond Meat shares were down 6.14% after hours at $7.80 at the time of publication Monday, according to Benzinga Pro.

Read Next: AI Stocks Rally Ahead Of Nvidia’s ‘Woodstock’: Analysts Eye Next Phases For Growth

Photo: Courtesy of Beyond Meat.