Beyond Meat - the plant-based 'meat' maker - recently reported disappointing third-quarter results.
The company has also issued a gloomy outlook that indicates sales won't snap back immediately.
Financial analysts like JP Morgan and Credit Suisse are now backing off their earlier calls to invest in Beyond Meat, downgrading the stock and telling investors to not buy.
"We view the results as further evidence that Beyond's business is reaching market saturation faster than expected and that the company has deeper problems that won't be easy to fix," Credit Suisse analyst Robert Moskow wrote in a not to clients.
JP Morgan's Ken Goldman told investors that "it's hard to be completely confident about the future of the category".
