Beyond Meat Inc (NASDAQ:BYND) shares traded higher Thursday before moving lower in the afternoon, and remain down 56.6% year-to-date after the company reported a larger-than-expected first-quarter net loss following the launch of its new plant-based jerky.
On Wednesday, Beyond Meat reported a first-quarter adjusted EPS loss of $1.58 on revenue of $109.5 million. Both numbers fell short of consensus analyst estimates of a $1.01 per-share loss and $112.3 million in revenue. Revenue was up 1.2% from a year ago.
