Beyond Meat Trades Lower As Analysts Remain Cautious: What's Going On?

Beyond Meat, Inc. BYND is seeing its stock fall Monday. Here’s what you need to know.

What To Know: In its second-quarter financial results, released last week, Beyond Meat reported a revenue decline of 8.8% year-over-year.

But the company managed to beat Wall Street expectations with $93.2 million in revenue compared to the expected $87.81 million.

However, the plant-based, vegan meat company reported a slightly larger-than-expected adjusted loss of 53 cents per share, missing estimates of a 51-cent loss.

CEO Ethan Brown expressed optimism, highlighting the company’s progress in 2024 as a pivotal year toward sustainable operations and profitability. Beyond Meat ended the quarter with $158 million in cash but also reported $1.1 billion in total outstanding debt as of June 29.

What Else: Beyond Meat expects full-year revenue to range between $320 million to $340 million, with a gross margin in the mid-teens range.

Additionally, the stock has caught the attention of options traders, with significant bullish activity spotted. Although analysts remain cautious, with BMO Capital lowering the price target from $9 to $6, the options market has shown a split sentiment, with 50% bullish and 41% bearish trades.

BYND Price Action: As of the latest update, Beyond Meat shares were down 7.12% trading at $5.94, according to Benzinga Pro.

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Image: courtesy of Beyond Meat.