Why Beyond Meat's Stock Is Trading Lower Today

Beyond Meat, Inc. BYND shares are trading lower after Citigroup analyst Wendy Nicholson initiated coverage on the company's stock with a Sell rating and announced a $123 price target.

Beyond Meat is a food company that engages in the provision of revolutionary plant-based meats in the United States and internationally. It offers its products in plant-based platforms of beef, pork, and poultry in ready-to-cook and ready-to-heat formats.

Beyond Meat's stock was trading down 2.78% at $137.30 per share on Friday at the time of publication. The company has a 52-week high of $239.71 and has a 52-week low of $48.18.