Beyond Meat Inc (NASDAQ:BYND) shares are trading lower Tuesday afternoon after TD Cowen analyst Robert Moskow lowered the firm’s price target on the stock to 80 cents from $2, while maintaining a Sell rating. Here’s what investors need to know.
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What To Know: The plant-based meat company’s stock has been under pressure following the Monday announcement of a debt restructuring plan that will significantly dilute shareholders.
Beyond Meat said it had reached an agreement with a majority of its creditors to swap convertible notes due in 2027 for new ones due in 2030. The plan also includes the issuance of up to 326 million new shares of common stock.
The move, which aims to reduce debt by over $800 million, caused the stock to be cut in half on Monday. The company has been struggling with poor performance in the plant-based meat market, reporting a 19.6% year-over-year decrease in net revenue in its second-quarter results.
Benzinga Edge Rankings: Reflecting the stock’s recent sharp decline, Benzinga Edge rankings show Beyond Meat has a low Momentum score of 1.78.
BYND Price Action: Beyond Meat shares closed Tuesday down 24.56% at 78 cents. The stock is trading near its 52-week low of 77 cents.
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How To Buy BYND Stock
Besides going to a brokerage platform to purchase a share — or fractional share — of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For Beyond Meat, it is in the Consumer Staples sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
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