5 Most Shorted Stocks Hedge Funds Are Buying

4. Wayfair Inc. (NYSE:W)

Short % of Float (Nov 29, 2022): 38.45%

Number of Hedge Fund Holders: 31

Headquartered in Boston, Massachusetts., Wayfair Inc. (NYSE:W) is an e-commerce company that operates a website and mobile app that offers a wide range of home goods, including furniture, home decor, and home improvement products.  Wayfair Inc. (NYSE:W) has a large selection of products available on its website, with more than 18 million items offered by over 10,000 suppliers.

Ygal Arounian, an analyst at Citi, started covering Wayfair Inc. (NYSE:W) on December 13, 2022, with a Buy rating and a price target of $50. The analyst is bullish on the company as he sees a good risk/reward at current levels. While Adrienne Yih, an analyst at Barclays, keeps an Underweight rating on the company with a price target of $34.  The analyst keeps a bearish view on the company, given the consistent decline in active customers.

According to Insider Monkey’s database, 31 hedge funds held stakes in Wayfair Inc. (NYSE:W) at the end of the third quarter.  Spruce House Investment Management remained the leading stakeholder in the company at the end of Q3 2022.