Beyond Meat Inc (NASDAQ:BYND) shares are trading lower Monday afternoon, giving back part of last week’s rally after the plant-based food maker announced an expansion of its new Beyond Immerse sparkling protein drink line. Here’s what investors need to know.
- Beyond Meat stock is feeling bearish pressure. What’s pressuring BYND stock?
Low-Calorie Protein Drinks Target Health Consumers
The El Segundo, California–based company said late last week that it is rolling out four limited-time flavors — Cherry Berry, Strawberry Lemonade, Piña Colada and Cucumber Grapefruit — for the functional beverage, which blends plant protein, fiber, antioxidants and electrolytes.
The drinks are offered in 10-gram and 20-gram protein varieties with 7 grams of fiber and 60 or 100 calories, and are sold exclusively through the company’s Beyond Test Kitchen platform.
The product news sent the stock surging more than 20% last week as traders bet the beverage initiative could help refresh the Beyond Meat brand and open a new revenue stream alongside its core meat-alternative offerings.
Beyond Meat Earnings Due March 10
Investors are now shifting focus to Beyond Meat’s next earnings report, scheduled for March 10. Wall Street expects a quarterly loss of 11 cents per share on $63 million in revenue, with trailing 12-month sales sitting near $291 million.
The upcoming report will offer an updated look at consumer demand, progress on new products such as Beyond Immerse and management’s outlook for the rest of the year.
BYND Shares Trade Below Key Averages
The stock is currently trading 9.8% below its 20-day simple moving average (SMA) and 4.1% below its 100-day SMA, indicating a bearish trend.
Over the past 12 months, shares have decreased significantly and are currently positioned closer to their 52-week lows than highs.
BYND Shares Slide Monday Afternoon
BYND Price Action: Beyond Meat shares were down 8.76% at 86 cents at the time of publication on Monday, according to Benzinga Pro data.
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