5 Best Short Squeeze Stocks to Buy Now

3. Beyond Meat, Inc. (NASDAQ:BYND)

Number of Hedge Fund Holders: 20

Short Interest as of September 14: 40.47%

Beyond Meat, Inc. (NASDAQ:BYND) is a California-based company that manufactures and markets plant-based meat products in the United States and internationally. In late September, the company suspended its COO after he was arrested, and a few days later, Beyond Meat, Inc. (NASDAQ:BYND)’s chief supply officer also left to pursue another opportunity after less than a year on the job. As of September 14, the short float came in at about 40.5%. 

On September 22, Canaccord analyst Bobby Burleson lowered the price target on Beyond Meat, Inc. (NASDAQ:BYND) to $22 from $30 and maintained a Hold rating on the shares. The analyst acknowledged the suspension of Beyond Meat, Inc. (NASDAQ:BYND)’s COO but trimmed his target due to ongoing elevated competition and slow demand for plant-based meat, which challenged the company’s growth.

According to Insider Monkey’s database, 20 hedge funds held stakes worth $73 million in Beyond Meat, Inc. (NASDAQ:BYND) at the end of June 2022, compared to 23 funds in the prior quarter worth $121.8 million. D E Shaw is a significant stakeholder of the company, with 970,537 shares valued at $23.2 million. 

Here is what Horos Asset Management has to say about Beyond Meat, Inc. (NASDAQ:BYND) in its Q1 2022 investor letter:

“What about the other asset class that has attracted the most attention from the investment community in recent times? Beyond Meat is the other company whose valuations we did not understand and whose share price has also declined drastically in the last year and a half.”