Beyond Meat (NASDAQ: BYND) finished the day up by 6.03%, leading the cohort; however, the company will need to deliver big on its promises in the next quarters to be considered a household name in the packaged food business for the next decade. Meanwhile, on May 11, the company reported its Q1 earnings, showing revenue and gross margins below the industry’s expectations. The net revenues were $109.5 million compared to the expected $112.3 million. Though falling short of the expectations, the revenues moderately increased by $1.3 million, up 1.2% year-on-year (YoY).
BYND chart and analysis
Despite ending yesterday’s session up 6.03% and closing above the 20-day and 50-day Simple Moving Averages (SMAs), the shares are down 55% YTD. Over the last month, the trading range seems to be set between $24.79 and $29, with a slight increase in trading volume. Meanwhile, analysts rate the shares a moderate sell, with the next 12 months’ average price prediction at $24.38, -16.02% lower than the current trading price of $29.03. Plant-based meat (PBM) products industry is still unknown since the demand for the products can disappear as changing consumer demands will determine the need for such products. Furthermore, with rising food prices, PBM products tend to become more pricey, possibly hurting demand even more. Investors with high-risk appetites can keep the stock on their watchlist as the drop in the share price was quite steep, possibly offering solid gains if the stock returns to its former glory days. Buy stocks now with Interactive Broker – the most advanced investment platform Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
