BYND Stock Summary and Trading Ideas (Beyond Meat | NASDAQ:BYND)

Beyond Meat Inc is a provider of plant-based meat company offering a portfolio of revolutionary plant-based meats. It builds meat directly from plants, an innovation that enables consumers to experience the taste, texture and other sensory attributes of popular animal-based meat products while enjoying the nutritional and environmental benefits of eating plant-based meat product It has products such as burgers, sausage, ground beef, jerky, meatballs and chicken. The company generates revenue from sales of its products to the customers across mainstream grocery, mass merchandiser, club store, convenience store and natural retailer channels, and various food-away-from-home channels, including restaurants, foodservice outlets and schools, mainly in the United States.

Beyond Meat trades on the NASDAQ stock market under the symbol BYND.

As of May 6, 2024, BYND stock price was flat at $8.23 with 3,927,666 million shares trading.

BYND has a beta of 2.61, meaning it tends to be more sensitive to market movements. BYND has a correlation of 0.17 to the broad based SPY ETF.

BYND has a market cap of $531.17 million. This is considered a Small Cap stock.

Last quarter Beyond Meat reported $74 million in Revenue and -$.92 earnings per share. This beat revenue expectation by $7 million and missed earnings estimates by -$.04.

In the last 3 years, BYND stock traded as high as $160.28 and as low as $5.58.

The top ETF exchange traded funds that BYND belongs to (by Net Assets): VTI, IWM, VXF, VB, VDC.

BYND stock has underperformed the market in the last year with a return of -35.4%, while SPY returned +28.3%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in BYND shares. However, BYND has outperformed the market in the last 3 month and 2 week periods, returning +28.0% and +28.4%, while SPY returned +4.8% and +4.3%, respectively. This indicates BYND has been having a stronger performance recently.

BYND support price is $7.89 and resistance is $8.57 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that BYND stock will trade within this expected range on the day.