eResearch | The 4 stocks in the munKNEE Plant-Based Food Stocks Index are focused exclusively on the research, development, sales, distribution, and marketing of fake meat, dairy, egg, and seafood products and trade for a minimum of US$1/share.
About Plant-Based Foods
According to the Good Food Institute, grocery sales of plant-based foods that directly replace animal products have grown 27% in the past year to $7 billion with 98% of those Americans who are buying plant-based meat also purchasing conventional meat. The total plant-based food market is expected to grow at a CAGR of 11.9% going forward and reach $74.2 billion by 2027.
The munKNEE Plant-Based Food Stocks Index
Below are the updated performances of the constituents in the Index since the end of March in descending order, along with their performances year-to-date and from their 2021 highs. In addition, the Chance of Financial Distress numbers are sourced from macroaxis.com and the Analyst Consensus data from stockanalysis.com.
- Guru Organic (GUROF): N/C month-to-date; (DOWN 19.1% YTD); DOWN 42.3% from 2021 high
- a Montreal, Canada beverage company launched in 1999, when it pioneered the world’s first natural, plant-based energy drink.
- Chance of Financial Distress in the next 2 years: 24%
- Analyst Consensus: No analysts following GUROF
- a Montreal, Canada beverage company launched in 1999, when it pioneered the world’s first natural, plant-based energy drink.
- Else Nutrition (BABYF): DOWN 11.2%; (UP 24.7% YTD); DOWN 68.3% from 2021 high
- an Israel-based food and nutrition company focused on developing innovative, clean, and plant-based food and nutrition products for infants, toddlers, children, and adults.
- Chance of Financial Distress in the next 2 years: 25%
- Analyst Consensus: No analysts following BABYF
- an Israel-based food and nutrition company focused on developing innovative, clean, and plant-based food and nutrition products for infants, toddlers, children, and adults.
- Tattooed Chef (TTCF): DOWN 27.7%; (DOWN 41.5% YTD); DOWN 62.2% from 2021 high
- 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.
- Chance of Financial Distress in the next 2 years: 26%
- Analyst Consensus: 9 stock analysts currently rate TTCF as a BUY
- 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.
- Laird Superfood (LSF): DOWN 31.3%; (DOWN 81.0% YTD); DOWN 95.5% from 2021 high
- Chance of Financial Distress in the next 2 years: 58%
- Analyst Consensus: 7 stock analysts currently rate LSF as a BUY.
The average market capitalization of the above 4 stocks is $173M with an average stock price of US$5.64/share.
The munKNEE Pure-Play Plant-Based Food Stocks Index has gone DOWN 17.4% so far this month and is now DOWN 45.9% YTD and DOWN 77.5% from its peak in 2021.
Not included in the Index are two huge companies with market capitalizations in excess of $2.5B which have performed, as follow, so far in April along with their percentage changes YTD and from their 2021 highs:
- Beyond Meat (BYND): DOWN 22.2% so far in April; (DOWN 42.3% YTD); DOWN 80.4% from 2021 high
- Chance of Financial Distress in next 2 years: 10%
- Analyst Consensus: 26 stock analysts currently rate BYND as a HOLD.
- Oatly Group (OTLY): DOWN 23.4%; (DOWN 51.9% YTD); DOWN 86.8% from 2021 high
- Chance of Financial Distress in next 2 years: 24%
- Analyst Consensus: 25 stock analysts currently rate OTLY as a BUY.
We think the above Index reflects the true health of the plant-based food sector in the U.S. and Canada.
Notes: All numbers in CAD unless otherwise stated. The author of this report, and employees, consultants, and family of eResearch may own stock positions in companies mentioned in this article and may have been paid by a company mentioned in the article or research report. eResearch offers no representations or warranties that any of the information contained in this article is accurate or complete. Articles on eresearch.com are provided for general informational purposes only and do not constitute financial, investment, tax, legal, or accounting advice nor does it constitute an offer or solicitation to buy or sell any securities referred to. Individual circumstances and current events are critical to sound investment planning; anyone wishing to act on this information should consult with a financial advisor. The article may contain “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements are based on the opinions and assumptions of the Company’s management as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein. Any projections given are principally intended for use as objectives and are not intended, and should not be taken, as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. Please read eResearch’s full disclaimer.
