BYND stock was down -3% in early morning trade on January 28, 2022, as the news circulates that the California Assembly has passed a bill requiring plant-based foods in schools.
Bill Promoting Nutrition Plant-Based School Meals Passes California Assembly
On January 28, 2022, the Child Nutrition Act of 2022 (AB 558), a bill co-sponsored by the Physicians Committee for Responsible Medicine, passed the California Assembly. The bill incentivizes K-12 public schools across the state to offer healthier, climate-friendly plant-based meals and beverages.
“As the country continues to fight the COVID-19 pandemic, ensuring that California’s students have access to healthy plant-based meals that promote overall wellness and help support their immunity is a more urgent need than ever,” says Maggie Neola, RD, a dietitian with the Physicians Committee for Responsible Medicine.
Diet-related conditions worsen COVID-19 cases, and children experiencing the effects of unhealthy eating that used to be reserved for adults—obesity, high blood pressure, high cholesterol, and type 2 diabetes—can benefit greatly from reducing meat and dairy consumption and increasing the amount of plant-based foods they eat. A better diet will improve children’s lives not only in the pandemic but for years to come.
California Assemblymember Adrin Nazarian (D-46) authored the Child Nutrition Act of 2022. The bill will now move to the California State Senate for further consideration.
“Children in California need the nutritious plant-based meals that this legislation will provide,” adds Neola. “The Physicians Committee urges the California Senate to swiftly pass this bill and send it to Governor Newsom’s desk.”
Besides AB 558, the Physicians Committee advocates to expand access to plant-based school meals across the country, including working to pass New York bill A.301 / S.1726, which would give every student in New York public schools options for healthy plant-based foods.
Beyond Meat initiated with a Neutral at Mizuho
On January 26, 2022, Mizuho analyst John Baumgartner initiated coverage of Beyond Meat with a Neutral rating and $59 price target. Shares have exhibited “extreme volatility” since the company came public in May 2019 and he believes long-term expectations are too high, Baumgartner said. He also argues that high-beta equities “appear poised for near-term market resistance” and with the valuation approaching his fair value estimate for Beyond Meat he is “content on the sidelines.”
Beyond Meat sales at McDonald’s three-times estimates, says Piper Sandler
On January 26, 2022, Piper Sandler analyst Michael Lavery remains bearish on key fundamentals for Beyond Meat (BYND) but he believes a continued U.S. McPlant rollout at McDonald’s (MCD) is likely a near-term catalyst. While a national launch may come later than initially estimated, sell-through at test locations was three-times Piper’s expectations, and much closer to burgers than expected, “suggesting a strong initial trial,” Lavery tells investors in a research note. The analyst says Beyond Meat’s early days at McDonald’s could have more upside than he have been assuming, even if sales slow afterwards. Nonetheless, he keeps an Underweight rating on the shares with a $64 price target.
Beyond Meat up to Hold at HSBC following ‘interesting’ foodservice developments
On January 21, 2022, HSBC analyst Jeremy Fialko upgraded Beyond Meat to Hold from Reduce. While his caution on fundamentals is unchanged, he thinks these are factored into the valuation with the shares having reached his unchanged $62 price target, Fialko said. Meanwhile, the company has seen some “interesting” developments on the foodservice side in recent months, most notably the European rollout of the McPlant burger with McDonald’s (MCD) and the nationwide presence of Beyond Fried Chicken at Yum’s (YUM) KFC, said Fialko, who thinks these “high profile expansions may inject some life into what is a heavily shorted” stock.
Beyond Meat, PepsiCo to partner on plant-based jerky, Bloomberg reports
On January 19, 2022, PepsiCo (PEP) and Beyond Meat (BYND) are targeting a vegan jerky snack as the first product in their joint venture, Bloomberg’s Deena Shanker and Leslie Patton report, citing people familiar with the matter. The companies announced the creation of the Planet Partnership last January, saying that it would focus on creating, producing and marketing new plant-based snacks and drinks. Beyond Meat and PepsiCo declined to comment, the authors note. Source: https://www.bloomberg.com/news/articles/2022-01-19/beyond-meat-pepsico-venture-to-start-with-plant-based-jerky?utm_content=pursuits&cmpid%3D=socialflow-twitter-pursuits&utm_medium=social&utm_campaign=socialflow-organic&utm_source=twitter&sref=8QBk7toa
📺💥 Beyond Meat Stock (BYND Stock) – Down 70%, Short Squeeze Potential? Business & valuation analysis!
📉 BYND Stock Technical Analysis
Both the long and short-term trends are negative. It is better to avoid buying stocks with negative trends. BYND is part of the Food Products industry. There are 104 other stocks in this industry, of which 74% are performing better than BYND. BYND is currently trading near the lower end of its 52-week range, which is not a good sign. BYND is lagging the S&P500 Index which is trading in the middle of its 52-week range. Prices have been falling strongly lately, it is better to avoid new long positions here.
There is a resistance zone ranging from 56.55 to 56.57. This zone is formed by a combination of multiple trend lines in multiple time frames. There is also a resistance zone ranging from 64.23 to 64.64. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame. Finally, there is a resistance zone ranging from 69.59 to 70.23. This zone is formed by a combination of multiple trend lines in the daily time frame.
The technical rating of BYND is bad and it also does not present a quality setup at the moment. BYND stock has a Setup Rating of 3 out of 10. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first. Click here to sign up for email alerts on when BYND stock consolidates and has a Setup Rating of 8 or higher.