Beyond Meat (BYND, $94.48) shares plummet, on larger-than-expected Q3 loss
Beyond Meat shares on plunged on Wednesday in after-hours trading, after the plant-based meat company posted a wider-than-expected third-quarter loss .
Beyond Meat’s loss for the quarter came in at -87 cents a share, compared to -39 cents a share loss anticipated by analysts polled by Refinitiv.. The los was also larger than the year-ago quarter’s -31 cents a share.
The company’s revenue was $106.4 million in the quarter, which was lower than $109.2 million expected by analysts.
"Our third quarter results reflect variability as we saw a decline from record net revenues just a quarter ago," Beyond Meat CEO Ethan Brown said in a statement. "Despite current disruptions, we remain focused on rapidly advancing key building blocks of long-term growth.
"Whether scaling products and infrastructure for our strategic quick serve restaurant partners, bringing new product to retail markets, or investing in innovation, commercialization, and production capabilities here in the U.S., EU, and China, we believe we are steadily executing against our vision of being tomorrow’s global protein company," Brown said.
Looking ahead, Beyond Meat expects fourth quarter net revenues in the range of $85 million to $110 million, incorporating near-term uncertainty related to Covid-19 pandemic.
BYND sees MACD Histogram crosses below signal line
BYND saw its Moving Average Convergence Divergence Histogram (MACD) turn negative on May 09, 2022. This is a bearish signal that suggests the stock could decline going forward. Tickeron's A.I.dvisor looked at 23 instances where the indicator turned negative. In 20 of the 23 cases the stock moved lower in the days that followed. This puts the odds of a downward move at 87%.
Current price $31.24 crossed the resistance line at $55.44 and is trading between $55.44 resistance and $-44.54 support lines. Throughout the month of 04/12/22 - 05/13/22, the price experienced a -28% Downtrend. During the week of 05/06/22 - 05/13/22, the stock fell -13%.
The Momentum Indicator moved below the 0 level on May 05, 2022. You may want to consider selling the stock, shorting the stock, or exploring put options on BYND as a result. In 45 of 53 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 85%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where BYND declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 86%.
The Aroon Indicator for BYND entered a downward trend on May 11, 2022. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where BYND's RSI Indicator exited the oversold zone, 25 of 28 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 89%.
The Stochastic Indicator shows that the ticker has stayed in the oversold zone for 5 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
Following a +8.95% 3-day Advance, the price is estimated to grow further. Considering data from situations where BYND advanced for three days, in 125 of 166 cases, the price rose further within the following month. The odds of a continued upward trend are 75%.
BYND may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Tickeron has a negative outlook on this ticker and predicts a further decline by more than 4.00% within the next month with a likelihood of 54%. During the last month, the daily ratio of advancing to declining volumes was 1.08 to 1.
The Tickeron PE Growth Rating for this company is 100 (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is 100 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. BYND’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 81, placing this stock worse than average.
The Tickeron Price Growth Rating for this company is 94 (best 1 - 100 worst), indicating slightly worse than average price growth. BYND’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of 90 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (14.970) is normal, around the industry mean (6.682). P/E Ratio (0.000) is within average values for comparable stocks, (57.546). BYND's Projected Growth (PEG Ratio) (0.000) is slightly lower than the industry average of (3.152). Dividend Yield (0.000) settles around the average of (0.034) among similar stocks. P/S Ratio (4.246) is also within normal values, averaging (5.941).
The Tickeron SMR rating for this company is 88 (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
A specialty/candy manufacturer specializes in one or more of the following: chocolate, candies, pasta, condiments, seasonings, among other items. Hershey Company, McCormick & Company and J.M. Smucker Company are some of the major firms in this segment. Demand for this industry’s products comes from both institutions/restaurants as well as households.
The average market capitalization across the Food: Specialty/Candy Industry is 7.2B. The market cap for tickers in the group ranges from 22.7K to 337B. NSRGF holds the highest valuation in this group at 337B. The lowest valued company is BTHR at 22.7K.
The average weekly price growth across all stocks in the Food: Specialty/Candy Industry was -1.52%. For the same Industry, the average monthly price growth was 1.53%, and the average quarterly price growth was -3.59%. STKL experienced the highest price growth at 35.69%, while LNLHF experienced the biggest fall at -44.36%.
- 5/4/22 8:26 AM: Beyond Meat (BYND, $38.9) was a top weekly gainer, with a +9.48% jump
- 3/25/22 6:10 AM: Beyond Meat (BYND, $50.58) was a top weekly gainer, with a +8.1% jump
- 3/18/22 7:14 AM: Beyond Meat (BYND, $46.79) was a top weekly gainer, with a +9.89% jump
The average weekly volume growth across all stocks in the Food: Specialty/Candy Industry was 7.36%. For the same stocks of the Industry, the average monthly volume growth was 67.38% and the average quarterly volume growth was -26.31%
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Stocks in the group have a Negative Outlook today, backed by the MA200MA50 Indicator. Tickeron has a negative outlook on this group and predicts a further decline by more than 4.00% within the next month with a likelihood of 30%. During the last month, the daily ratio of advancing to declining volumes was 1.22 to 1.
42 stocks in the group of tickers exhibit a similar negative trend based on the Aroon indicator with an average likelihood of 76%.
The most notable companies in this group are Mondelez International (NASDAQ:MDLZ), Kraft Heinz Company (The) (NASDAQ:KHC), General Mills (NYSE:GIS), Campbell Soup Company (NYSE:CPB), Beyond Meat (NASDAQ:BYND).
The average market capitalization across the group is 5B. The market cap for tickers in the group ranges from 403K to 91.9B. MDLZ holds the highest valuation in this group at 91.9B. The lowest valued company is RRRT at 403K.
The average weekly price growth across all stocks in the group was -0.58%. For the same group, the average monthly price growth was 9.21%, and the average quarterly price growth was -4.54%. STKL experienced the highest price growth at 35.69%, while LNLHF experienced the biggest fall at -44.36%.
- 5/14/22 4:23 AM: Hostess Brands (TWNK, $23.56) was a top weekly gainer, with a +7.43% jump
- 5/14/22 4:23 AM: Nomad Foods (NOMD, $21.05) was a top weekly gainer, with a +19.26% jump. Expect an Uptrend continuation
- 5/14/22 4:23 AM: Hain Celestial Group (HAIN, $27.66) was a top weekly gainer, with a +9.67% jump
The average weekly volume growth across all stocks in the group was 162.9%. For the same stocks of the group, the average monthly volume growth was 222.35% and the average quarterly volume growth was 500.36%
- 5/14/22 4:17 AM: The volume for RiceBran Technologies stock increased for a consecutive 5 days, with an average daily gain of 191%
- 5/14/22 4:16 AM: The volume for Calyxt stock increased for four consecutive days, resulting in a record-breaking daily growth of 136% of the 65-Day Volume Moving Average
- 5/13/22 4:50 AM: The volume for Else Nutrition Holdings stock increased for a consecutive 5 days, with an average daily gain of 255%
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows