Beyond Meat Stock Is Moving Higher Tuesday: What's Going On?

Zinger Key Points
  • Beyond Meat announced that its new burger is now available exclusively at Costco stores nationwide.
  • Beyond Meat shares were up more than 8% on Tuesday.

Beyond Meat Inc BYND shares are trading higher Tuesday. The company launched a new Beyond Burger exclusively with Costco Wholesale Corp COST

What To Know: Beyond Meat said its new burger is now available exclusively at Costco stores nationwide. The Beyond Burger is made from clean, simple, non-GMO plant-based ingredients and offers 19 grams of protein per patty with 35% less saturated fat than a typical beef burger. 

Beyond Meat has been trending over the last month as the stock has rallied more than 58% on heavy volume. Tuesday's trading volume of 3.74 million had already exceeded the 100-day average of 2.59 million at last check. per Benzinga Pro. Beyond Meat was also among the top trending tickers on Stocktwits at publication time.

Of the analysts that cover Beyond Meat, two have positive ratings, six have neutral ratings and 10 have negative ratings. The average price target on the stock is $27.91.

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BYND Price Action: Beyond Meat shares were up 2.67% at $10.21 at the time of publication, according to Benzinga Pro.

Photo: courtesy of Beyond Meat.

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