Why Beyond Meat Stock Dropped Today
Shares of Beyond Meat (NASDAQ: BYND) declined on Thursday following bearish analyst commentary. By the close of trading, the plant-based food-provider's stock price was down 2.3% after falling as much as 6.1% earlier in the day.
Piper Sandler analyst Michael Lavery cut his rating on Beyond Meat's stock from neutral to underweight and slashed his price forecast from $120 to $95. Lavery's new estimate implies potential losses for investors of roughly 12% from the stock's current price near $108.25.
Analysts at Piper Sandler placed the equivalent of a sell rating on Beyond Meat's shares. Image source: Getty Images.
Source Fool.com