Here's Why Beyond Meat Stock Got Crushed Today
Shares of plant-based meat company Beyond Meat (NASDAQ: BYND) got crushed on Monday. The company already reported financial results for the first quarter of 2021 last week. But today, analysts were giving their thoughts on the stock -- and it wasn't bullish commentary. As a result, Beyond Meat stock was down 6% as of 11 a.m. EDT.
According to The Fly, two prominent analysts downgraded their outlooks on the stock today. One is from Canaccord and the other from D.A. Davidson. The latter lowered their price target for Beyond Meat stock from $145 per share to $95, a sharp 34% cut. The analyst from Canaccord lowered Beyond Meat's price target from $155 to $125, a 19% decrease.
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Source Fool.com