Book Profit on this NASDAQ-Listed Consumer Non-Durable Stock: Beyond Meat, Inc.

Aug 08, 2022 12:00 AM PDT | Team Kalkine
Book Profit on this NASDAQ-Listed Consumer Non-Durable Stock: Beyond Meat, Inc.


Beyond Meat, Inc.

Company Overview Beyond Meat, Inc. (NASDAQ: BYND) is a plant-based meat company. The Company sells a range of plant-based meat products across the three core platforms of beef, pork, and poultry. It is offered in ready-to-cook or ready-to-heat formats. The Company’s product offerings include Beyond Burger, Cookout Classic, Beyond Sausage, Beyond Beef, Beyond Meatballs, Beyond Breakfast Sausage Patties, Beyond Breakfast Sausage Links, Beyond Beef Crumbles, Beyond Italian Sausage Crumbles, and Beyond Chicken Tenders.

As per our previous ‘Report published on BYND on 20th July 2022, Kalkine provided a ‘HOLD’ stance on the stock at USD 37.49 based on ‘top-line performance, continued product launches, and upside indicated based on Valuation done, and the stock price has now moved by ~18.48% since then and the price is now moved above the Resistance 1 level and now crossed even its resistance R2.

Noted below are the details of support and resistance levels provided in our previous report:

 BYND’s Daily Chart

(Source: Refinitiv, Analysis done by Kalkine Group)

Considering the resistance, target level attainment, current trading levels, risks associated, and volatile market condition on the back of rising interest rates, a ‘Sell’ rating is assigned to the “BYND” at the current market price of USD 44.42 (as of 08 August 2022 at 07:10 AM PDT). 

Note: This report may be updated with details around fundamental and technical analysis, price/ chart in due course, as appropriate 

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 21 July 2022. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level which the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the New York Stock Exchange (NYSE), NASDAQ Capital Markets (NASDAQ), and or REFINITIV. Typically, all sources (NYSE, NASDAQ, or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’