RTTNews | Oct 22, 2021 10:08AM EDT

10:08 Friday, October 22, 2021 (RTTNews.com) - Shares of Beyond Meat, Inc. (BYND) are down more than 15% in the morning trade on Friday after the company lowered its third-quarter revenue outlook.

Beyond Meat said demand was hurt by macro and micro-economic factors including impacts of Covid-19 Delta variant, among others.

The Company currently sees third quarter net revenues of about $106 million as compared with prior guidance of $120 million - $140 million. Analysts polled by Thomson Reuters expect the company to report revenue of $133.1 million for the quarter.

BYND touched a new low of $91.55 this morning before edging up to $92.18 currently.

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