Beyond Meat (BYND), the plant-based meat company, is seeing its shares surge again, rising more than 15% in pre-market trading on Friday. This comes after a strong surge on Thursday, when the penny stock jumped 20.7% to close at $0.98.
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The main trigger behind the rally is a calendar update about its earnings release. Beyond Meat has set a date for its Q1 earnings report, which will be released after the market closes on May 6.
While scheduling earnings is usually a routine task for all companies, it matters for BYND investors. The company has a recent history of delaying results or releasing preliminary figures unexpectedly while trying to fix inventory issues. This time, giving a firm date is seen as a positive step and brings some clarity for investors.
Short Squeeze Talk and New Hopes
Beyond the earnings date, retail traders on platforms like Reddit are adding fuel to the rally.
Many are focusing on the high level of short interest in the stock, hoping it could lead to a “short squeeze” and push prices higher. There is also buzz around reports that the U.S. Army is looking into meatless protein options, which could open the door for a large contract.
After a volatile year, traders are taking the confirmed earnings date as a sign that things may be stabilizing for Beyond Meat.
What to Watch on May 6
When Beyond Meat reports its Q1 results on May 6, investors will mainly look at whether the company is burning less cash. They also want to see if recent cost cuts are helping margins. After past issues with delays and inventory, a clear and well-managed report would help rebuild confidence.
Beyond that, the focus will be on whether sales are starting to stabilize after last year’s drop. In Q4, sales fell 19.7% year over year to $61.6 million, missing estimates of $63 million. The decline was mainly due to weaker demand across retail and foodservice.
Is BYND Stock a Good Buy?
Turning to Wall Street, analysts have a Moderate Sell consensus rating on BYND stock based on three Holds and three Sells assigned in the past three months. Further, the average BYND price target of $0.66 per share implies 32.93% downside potential.
