Beyond Meat (NASDAQ: BYND), a producer of plant-based meat substitutes, has seen its inventory wort
Beyond Meat (NASDAQ: BYND), a producer of plant-based meat substitutes, has seen its inventory worth decline by about 13% during the last week and by roughly 30% during the last month, at present buying and selling at round $110. There are a number of components driving the decline. Firstly, analysts have been slicing their worth targets for the corporate, on account of mounting competitors within the plant-based meats area, with the likes of Unattainable Meals, Kroger (“Easy Fact” model), and Kellogg’s ( “Incogmeato”) doubling down in the marketplace. Bernstein lately reduce its goal from $172 to $130, whereas Wells Fargo initiated protection with a worth goal of $125 per share. Individually, the corporate’s post-IPO share lockup interval expires on October 29, making 80% of its excellent shares accessible for commerce. This might trigger early buyers to ebook earnings on the inventory, which presently trades at over 4x its IPO worth of $25 per share. Beneath, we check out the corporate’s efficiency over the previous few years and its outlook over the subsequent two years.
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