Image by Sean Hayes from Pixabay
 

There are only 3 pure-play plant-based food stocks with market caps in excess of $100M and they are tracked in our munKNEE Plant-based Food Stocks Index. They are presented below their:

• stock performances so far in April (i.e. MTD) and YTD;
• likelihood of Financial Distress within the next 2 years (according to data from macroaxis.com), 
• average Wall Street Analyst 12-month Price Targets,
• extent of Short Interest, 
• degree of Insider Ownership (from SeekingAlpha.com),
• percentage of Institutional Ownership, and
• Market Capitalization.

1. Tattooed Chef (TTCF): DOWN 0.7% MTD; still UP 13.7% YTD
   • Offers a broad portfolio of plant-based food products that are available in the frozen food sections of national retail food stores across the United States.
   • 3 analysts:
     • have an average 12-month price target representing a 54% increase from their current prices and
     • have a consensus Hold rating (all 3 analysts).
   • In addition, TTCF has:
     • 26% chance of Financial Distress within 2 years,
     • very high 35.4% Short Interest,
     • 41% Insider Ownership,
     • 18% Institutional Ownership, and 
     • $125M Market Capitalization.
   • Read: Tattooed Chef: Insolvency Risk And Speculative Growth
     • Tattooed Chef: One More Hurdle To Entry Point, Wait For The Greenlight
2. Oatly Group (OTLY): DOWN 7.0% MTD; still UP 28.3% YTD
   • The world’s largest oat drink company catering primarily to customers in Sweden, Germany, the United Kingdom, Netherlands, Finland, and North America.
   • 12 analysts:
     • have an average 12-month price target representing a 106% increase from its current price and
     • have a consensus Buy rating (9 Buy, 3 Hold).
   • In addition, OTLY has:
     • 30% chance of Financial Distress within 2 years,
     • 8.1% Short Interest,
     • only 1.6% Insider Ownership,
     • 15.3% Institutional Ownership, and
     • $1.35B Market Capitalization.
   • Read: Oatly stock is defended at BofA with liquidity on the mend
3. Beyond Meat (BYND): DOWN 9.8% MTD; still UP 19.1% YTD
   • Seeks to replicate the look, "cook", and taste of meat. Its products are sold in the meat case of retail food stores across the U.S. and Canada and 83 other countries.
   • 16 analysts:
     • have an average 12-month price target representing a 15.4% DECREASE from its current price and
     • have a consensus Hold rating (9 Hold, 6 Sell, 1 Strong Sell).
   • In addition, BYND has:
     • 46% chance of Financial Distress within 2 years,
     • very high Short Interest of 35.7%,
     • 4.5% Insider Ownership and 
     • Market Capitalization of $967M
   • Read: Beyond Meat is viewed cautiously by BTIG with cash flow still a concern
     • Beyond Meat: Latest Results Provide Little Clarity
     • Beyond Meat Keeps Shrinking And Burning Cash
     • Beyond Meat's Survival Is Unlikely, But May Be Too Dangerous To Short
        

Summary

The munKNEE Plant-Based Food Stocks Index is DOWN 8.8% MTD but is still UP 19.8% YTD and its constituents have an average 12-month Wall Street price target which only represents a 4.8% increase from their current prices as a result of the negative 12-month forecast for Beyond Meat.

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