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Is Beyond Meat Inc (BYND) Stock About to Get Hot Friday?

Friday, December 01, 2023 11:48 AM | InvestorsObserver Analysts

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Is Beyond Meat Inc (BYND) Stock About to Get Hot Friday?

Beyond Meat Inc (BYND) stock is up 10.95% over the past week and gets a Bullish rating from InvestorsObserver Sentiment Indicator.

Sentiment Score - ,bullish
Beyond Meat Inc has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on BYND!

What is Stock Sentiment?

Sentiment uses short term technical analysis to gauge whether a stock is desired by investors. As a technical indicator, it focuses on recent trends as opposed to the long term health of the underlying company. Updates for the company such as a earnings release can move the stock away from current trends. Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor. InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon. The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.

What's Happening With BYND Stock Today?

Beyond Meat Inc (BYND) stock is trading at $7.50 as of 11:44 AM on Friday, Dec 1, a rise of $0.21, or 2.88% from the previous closing price of $7.29. The stock has traded between $7.11 and $7.60 so far today. Volume today is below average. So far 1,156,870 shares have traded compared to average volume of 2,647,612 shares. To screen for more stocks like Beyond Meat Inc click here.

More About Beyond Meat Inc

Beyond Meat is a provider of plant-based meats, such as burgers, sausage, ground beef, and chicken. Unlike other vegetarian products, Beyond Meat seeks to replicate the look, cook, and taste of meat, is targeted to omnivores and vegetarians alike, and is sold in the meat case. The products are widely available across the U.S. and Canada and in 83 additional countries as well. International revenue represented 31% of 2021 sales. The firm's products are available in retail stores and the food-service channel. In 2019, before the pandemic struck, sales were evenly split between these two channels, although mix stood at 70% retail/30% food service in 2021. We think the recovery from the crisis and new deals with McDonald's and Yum Brands will return food-service sales to 50% in time. Click Here to get the full Stock Report for Beyond Meat Inc stock.

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