Beyond Meat, Inc.

Beyond Meat, Inc. (NASDAQ: BYND) offers plant-based meats. Its product offerings include burgers, sausages, ground beef, and chicken. As of June 2021, BYND's products were available in over 119,000 retail and foodservice outlets in more than 80 countries, including mainstream supermarkets, mass merchandisers, club stores, convenience stores, and retailer shops.

Key Highlights

• The company reported YoY growth of 22.42% in net revenues to USD 257.59 million in H1FY21 (ended July 03, 2021) compared to USD 210.41 million in H1FY20 (ended June 27, 2020).
• However, due to increased operational expenses, BYND's net loss expanded to USD 46.92 million during H1FY21 vs. USD 8.39 million in H1FY20.
• As of July 03, 2021, the company had cash and cash equivalents of USD 1.01 billion and total debt of USD 1.13 billion.
• BYND's Q2FY21 cash cycle of 124 days is significantly higher than the industry median of 45 days.
• Its ROE was -7.6% in Q2FY21 vs. the industry median of 2.6%.
• On October 22, 2021, the company updated its Q3FY21 outlook and reduced its revenue estimate to USD 106 million from its anticipated prior range of USD 120 to 140 million.
• On September 29, 2021, BYND launched the plant-based Beyond Breakfast Sausage in grocery stores across Canada, marking its first foray into the retail breakfast sector.
• Stock is currently trading below its crucial short-term (50-day) and long-term (200-day) SMA support levels, a bearish indicator.
• The stock is leaning towards the lower end of its 52-week range of USD 91.55 to USD 221.00.
• BYND's stock price decreased 5.61% and 19.06% in the past one and three months, respectively.

Technical Price Chart (as of November 02, 2021). Analysis by Kalkine

Conclusion: Considering the topline growth, long-term profitability issues, technical indicators, and associated risks, we recommend a "Watch" rating on the stock at the closing price of USD 99.19, down 0.38%, as of November 02, 2021.

*The reference data in this report has been partly sourced from REFINITIV.