In its short term at the stock market, Beyond Meat (NASDAQ: BYND) has joined the elite league of companies that constantly leave the Wall Street astounded with its performance. Despite its unprofitability, over-the-top valuation, and high short interest, the stock continues its stoic upward trajectory.

Today, the stock once again gained over 15% before the opening bell, adding to yesterday’s gains on reports that it would start selling its plant-based ground beef products at Kroger, Whole Foods and HEB stores. The stock gain has once again left shorts burning.

beyond meat
Courtesy: Beyond Meat / Facebook post

Credit Suisse has the highest price target of $125 on the stock. BYND stock is, meanwhile, currently trading 36% above this price. The most bearish rating firm is Goldman Sachs, with a price target of $76, way below the current trading price.  

Even as there is a wide variation in the price targets set by different analysts, all of them converge on their neutral ratings. J.P. Morgan and Bernstein were the only two firms with a Buy rating, but they also downgraded last week and joined the neutral squad.

READ: Beyond Meat Q1 loss widens but guides 2019 revenue above consensus

The market and customers are pretty happy about Beyond Meat’s products. The investments into R&D have paid off and its products taste pretty much like real meat. However, with a price to sales ratio at close to 90, the market is pretty worried about the company’s valuation.

Short sellers have suffered mark to market losses of as much as $560 million since BYND IPO. Over the last week, this has somewhat cut down the short interest on the stock.

Beyond Meat stock has increased 580% since its IPO in May.

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