London — Beyond Meat lost more than a fifth of its value on Tuesday as analysts cut their price targets following results that raised questions about rising competition, slowing growth and higher operational costs.

The stock’s lockup expiry also contributed to the weakness.

A boost to the company’s sales outlook might not be enough to impress investors with already elevated expectations for the plant-based burger maker, ahead of a likely increase in near-term competitive pressures, analysts said. The low-end of the revised forecast may also suggest fourth-quarter sales could slow from the third quarter pace, Jefferies analysts said.

Jefferies, Wells Fargo and JPMorgan were among banks that lowered price targets on the stock, according to Bloomberg data.

Results were also overshadowed by Tuesday’s expiration of insider-selling restrictions. Under the arrangement, about 75% of shares outstanding become eligible for sale on Monday, according to an October 28 note from Sanford C Bernstein. Beyond Meat was already down 29% month-to-date ahead of the expiry.

Beyond Meat shares fell as much as 24% to $80 per share in intraday trading in New York on Tuesday. The stock has not traded that low since May 24. Shares have trimmed their post-IPO gains to 237%.

With James Cone.