Beyond Meat Stock Breaches $1 Amid Launch Of New Flavors In Beverage Line

• Beyond Meat launched its beverage line Beyond Immerse in mid-January.
• According to data from Koyfin, three of the seven analysts covering BYND rate it a ‘Hold’ while two each rate it ‘Sell’ or ‘Strong Sell'.
• The stock has an average 12-month price target of $1.61, indicating a potential upside of around 70%.

Shares of Beyond Meat, Inc. (BYND) rallied 23% on Friday on the heels of the company launching four new flavor variations of its beverage line, Beyond Immerse.

The company’s stock hit an intraday high of $1.05 on Friday, before paring back some gains to touch $1.

How Did Stocktwits Users React?

On Stocktwits, retail sentiment around BYND jumped from ‘bullish’ to ‘extremely bullish’ territory over the past 24 hours, while message volume rose from ‘high’ to ‘extremely high’ levels.  

A Stocktwits user expressed disappointment at the stock breaching the $1 mark only to dip below at the time of writing.

Another, however, dismissed the dip as a “normal correction” and added that the stock will rally again.

According to data from Koyfin, three of the seven analysts covering BYND rate it a ‘Hold’, while two each rate it ‘Sell’ or ‘Strong Sell'. The stock has an average 12-month price target of $1.61, indicating a potential upside of around 70%.

New Flavors Lift Sentiment

The plant-based meat company added four flavors to its beverage lineup on Thursday: Cherry Berry, Strawberry Lemonade, Piña Colada, and Cucumber Grapefruit, noting that the new flavor launch follows “strong consumer response.” The new flavors will join the current flavor lineup of Peach Mango, Lemon Lime, and Orange Tangerine, and will be available for a limited time at the company’s direct-to-consumer site, it said.

“Beyond Immerse represents a meaningful next chapter for our brand as we expand beyond center-of-the-plate protein,” said CEO Ethan Brown. The company launched the beverage line mid-January.  

BYND stock has lost 69% of its value over the past 12 months. 

Read More: CoreWeave CEO Justifies Capex Spend Amid Stock Price Plummet, Touts High Demand: ‘Our Backlog Is Enormous’

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