12 Reddit Stocks That Will Go to the Moon

4. Beyond Meat Inc. (NASDAQ:BYND)

Number of Hedge Fund Holders: 10

Average Upside Potential as of October 17: 284.62%

Beyond Meat Inc. (NASDAQ:BYND) is one of the Reddit stocks that will go to the moon. On October 14, TD Cowen analyst Robert Moskow lowered the firm’s price target on Beyond Meat to $0.8 from $2 and kept a Sell rating on the shares. This sentiment was announced as the firm updated its model to account for significant shareholder dilution caused by the recent exchange offer for the company’s convertible notes.

While this transaction reduced Beyond Meat’s debt principal by a substantial 83%, it also resulted in a massive 413% increase in the share count. The company remains financially and operationally challenged. Earlier on September 15 as well, Argus downgraded Beyond Meat to Sell from Hold, without setting a price target on the company’s shares. Beyond Meat’s growth has been hit by increased competition, adverse changes in consumers’ perceptions about the health attributes of the company’s products and by termination fees from co-manufacturers.

Beyond Meat Inc. (NASDAQ:BYND) is a plant-based meat company that develops, manufactures, markets, and sells plant-based meat products under the Beyond brand name in the US and internationally.