Beyond Meat (NASDAQ:BYND) shares snapped six straight sessions of losses on Friday, as the stock closed 2.5% higher at $2.45.
The company, which produces plant-based meat substitutes, lost about 14% in the preceding six sessions. The stock has lost more than 30% so far this year, compared to the over 8% rise in the broader S&P 500 Index.
BYND is down 40% over the past month. The stock closed 0.8% lower on Thursday at $2.39.
Analysts are mostly bearish on the stock. Looking at Seeking Alpha’s Quant Rating, BYND has a Strong Sell rating with a score of 1.14 out of 5. The company received a B+ for growth, while it got an F in the prospect of profitability and momentum.
Turning to the Wall Street community, no analyst gave BYND a Buy or above. Four analysts have given the stock a Hold recommendation, and five have recommended Sell or lower.
Seeking Alpha analysts also see the stock as a Sell.
Beyond Meat in May posted quarterly results that showed another decline in sales and further deterioration in profitability. The gloomy results also led the company to withdraw its FY25 guidance and warn of the “uncertainty within its operating environment.”
“Management may need to sell some equity here just to offset ongoing cash burn, and that will dilute investors quite a bit at this ever-decreasing market cap. At a time when Beyond Meat needed to start showing some good results to potentially help discussions with lenders, the latest results definitely put the company in an even bigger hole,” noted Seeking Alpha analyst Bill Maurer.