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 in downward trend: price dove below 50-day moving average on April 02, 2024
BYND moved below its 50-day moving average on April 02, 2024 date and that indicates a change from an upward trend to a downward trend. In of 18 similar past instances, the stock price decreased further within the following month. The odds of a continued downward trend are .
Technical Analysis (Indicators)
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on April 01, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on BYND as a result. In of 88 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The 10-day moving average for BYND crossed bearishly below the 50-day moving average on April 10, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 11 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
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 of 62 cases within the following month. The odds of a continued downward trend are .
The Aroon Indicator for BYND entered a downward trend on April 26, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Bullish Trend Analysis
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where BYND's RSI Indicator exited the oversold zone, of 49 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 63 cases where BYND's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where BYND advanced for three days, in of 276 cases, the price rose further within the following month. The odds of a continued upward trend are .
Fundamental Analysis (Ratings)
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady 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 (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: BYND's P/B Ratio (59.524) is very high in comparison to the industry average of (8.292). P/E Ratio (0.000) is within average values for comparable stocks, (26.814). BYND's Projected Growth (PEG Ratio) (0.000) is slightly lower than the industry average of (2.471). Dividend Yield (0.000) settles around the average of (0.043) among similar stocks. P/S Ratio (1.455) is also within normal values, averaging (62.729).
The Tickeron PE Growth Rating for this company is (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 SMR rating for this company is (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.
The Tickeron Profit vs. Risk Rating rating for this company is (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 79, placing this stock worse than average.
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General Information
a company, which offers plant-based meat products
Industry FoodSpecialtyCandy