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's Indicator enters downward trend
The Aroon Indicator for BYND entered a downward trend on May 23, 2023. Tickeron's A.I.dvisor identified a pattern where the AroonDown red line was above 70 while the AroonUp green line was below 30 for three straight days. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options. A.I.dvisor looked at 248 similar instances where the Aroon Indicator formed such a pattern. In of the 248 cases the stock moved lower. This puts the odds of a downward move at .
Technical Analysis (Indicators)
Bearish Trend Analysis
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 .
Bullish Trend Analysis
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where BYND's RSI Oscillator exited the oversold zone, of 38 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Stochastic Oscillator is in the oversold zone. Keep an eye out for a move up in the foreseeable future.
The Momentum Indicator moved above the 0 level on May 31, 2023. You may want to consider a long position or call options on BYND as a result. In of 74 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for BYND just turned positive on May 23, 2023. Looking at past instances where BYND's MACD turned positive, the stock continued to rise in of 32 cases over the following month. 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 220 cases, the price rose further within the following month. The odds of a continued upward trend are .
BYND may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
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 slightly higher than the industry average of (10.025). P/E Ratio (0.000) is within average values for comparable stocks, (34.816). BYND's Projected Growth (PEG Ratio) (0.000) is slightly lower than the industry average of (2.676). Dividend Yield (0.000) settles around the average of (0.057) among similar stocks. P/S Ratio (1.610) is also within normal values, averaging (7.242).
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 80, placing this stock worse than average.
Notable companies
Industry description
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
a company, which offers plant-based meat products
Industry FoodSpecialtyCandy
BYND and
Correlation & Price change
A.I.dvisor indicates that over the last year, BYND has been loosely correlated with HAIN. These tickers have moved in lockstep 46% of the time. This A.I.-generated data suggests there is some statistical probability that if BYND jumps, then HAIN could also see price increases.
| Ticker / NAME | Correlation To BYND | 1D Price Change % | ||
|---|---|---|---|---|
| BYND | 100% | -1.46% | ||
| HAIN - BYND | 46% Loosely correlated | -3.63% | ||
| UTZ - BYND | 40% Loosely correlated | -1.02% | ||
| FRPT - BYND | 40% Loosely correlated | -5.70% | ||
| TTCF - BYND | 40% Loosely correlated | +3.98% | ||
| CENTA - BYND | 38% Loosely correlated | -0.95% | ||
More | ||||
