Beyond Meat, Inc. (NASDAQ:BYND) is one of the best performers on the stock market today. At current price of $110.35, the shares have already added 3.27 points (3.05% higher) from its previous close of $107.08. Should you buy or avoid them? The stock sets an active trading volume day with a reported 6490003 contracts so far this session. BYND shares had a relatively better volume day versus average trading capacity of 6.89 million shares, but with a 49.66 million float and a 31.42% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for BYND stock indicates that the average analyst price target is $105.13 per share. This means the stock has a potential decrease of -4.73% from where the BYND share price has been trading recently.
Looking at the current readings for Beyond Meat, Inc., the two-week RSI stands at 71.73. This figure suggests that BYND stock, for now, is oversold, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current BYND readings is similarly very revealing as it has a stochastic reading of 61.05% at this stage. This figure means that BYND share price today is being neutral.
Technical chart claims that Beyond Meat, Inc. (BYND) would settle between $112.85/share to $118.62/share level. However, if the stock price goes below the $103.71 mark, then the market for Beyond Meat, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $100.34 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 13.98. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Bernstein lowered their recommendation on shares of BYND from Outperform to Mkt Perform in their opinion released on January 15. Oppenheimer, analysts launched coverage of Beyond Meat, Inc. (NASDAQ:BYND) stock with a Perform recommendation, according to their flash note issued to investors on December 03. Analysts at Exane BNP Paribas are sticking to their Underperform stance. However, on November 20, they lifted price target for these shares to $50 from $70.
BYND equity has an average rating of 3, with the figure leaning towards a bullish end. 14 analysts who tracked the company were contacted by Reuters. Amongst them, 7 rated the stock as a hold while the remaining 7 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 5 analysts rated Beyond Meat, Inc. (NASDAQ:BYND) as a buy or a strong buy while 2 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.