Stock Price Movement of Foot Locker, and Beyond Meat
Foot Locker – 1% Dip
The share prices for Foot Locker have reportedly experienced over 1% dip in the premarket trading. The share price dip for Foot Locker was observed after the analysts at Morgan Stanley downgraded the stock status for the athletic apparel retailer.
The reports reveal that the stock status for Foot Locker has been downgraded by the analysts to “perform”. Previously, the analysts at Morgan Stanley had set the stock status for Foot Locker to “outperform”.
The analysts have even lowered the stock price rating for Foot Locker that they had set in the past. Initially, the analysts had set the stock price rating for Foot Locke to $42 per share. However, they moved the stock rating of Foot Locker’s price to $34 per share.
The analysts at Morgan Stanley even warned their investors about the current market situation of Foot Locker. They asked them not to proceed with making many investments in Foot Locker’s stocks and be very cautious while investing.
Beyond Meat Stocks Slid by 2.5%
The stock prices for Beyond Meat have experienced a 2.5% dip in the post-market trading action. The report has revealed that the reason behind the loss was the decision made by Piper Sandler investors in regards to the meat alternative producer’s stocks.
The analysts reportedly downgraded the stock status for Beyond Meat. After the downgrade, the stock status for Beyond Meat is now down to “underweight”. Previously, the stock status for Beyond Meat at Piper Sandler was “neutral”.
The analysts at Piper Sandler stated that Beyond Meat hasn’t been able to perform well in recent quarters. The sales it has generated in the past quarter are less than the estimations that the analysts made. Therefore, the analysts are being very cautious about the future performance of Beyond Meat.
For now, the analysts do not see Beyond Meat making much progress or development in the upcoming quarters. The meat alternative producers haven’t been able to introduce many or appealing products recently, which is a major letdown for the company and its decision-makers.