Beyond Meat shares slipped for the seventh consecutive session

Beyond Meat (NASDAQ:BYND) shares dropped for seven straight sessions, as the stock ended 3.7% lower at $4.49 on Thursday.

The plant-based meat company lost 9.9% in the preceding seven sessions. The stock has tumbled nearly 48.7% so far this year, compared to an over 27% rise in the broader S&P 500 Index.

WPC is down 30% over the past one month.

Looking at Seeking Alpha’s Quant Rating, BYND has a Hold rating with a score of 3 out of 5. The company received D- in the prospect of profitability, F+ in momentum, while it got a C+ growth factor.

Turning to the Wall Street community, no analysts gave BYND a Buy, while six gave it a Hold rating. Five analysts recommended the stock as Sell or lower.

Seeking Alpha analysts are also cautious and see the stock as a Hold.

Earlier in November, the company reported third quarter results above analyst estimates. For 2024, BYND expects net revenues to be in the range of $320M to $330M, vs. consensus of $325.44M.

“Despite Q3 revenue growth and improved gross margins, Beyond Meat’s limited liquidity and high debt pose significant risks. The company struggles with taste, health perceptions, and high prices, leading to reduced consumer demand and fewer points of sale,” pointed out a recent Seeking Alpha analysis.