5 Most Shorted Stocks Hedge Funds Are Buying

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1. Carvana Co. (NYSE:CVNA)

Short % of Float (Nov 29, 2022): 68.86%

Number of Hedge Fund Holders: 43

Carvana Co. (NYSE:CVNA) operates an e-commerce platform for buying and selling used cars. Carvana Co. (NYSE:CVNA) is known for its innovative business model, which includes the use of automated car vending machines.

Colin Sebastian, an analyst at Baird, keeps a price target of $30 on Carvana Co. (NYSE:CVNA) with an Outperform rating on the stock. The analyst has a bullish view due to the company’s significant long-term upside, given its massive TAM. On the other hand, Taylor Conrad, an analyst at Argus, downgraded his rating on the stock to Sell from Hold. The analyst has a bearish view of the company as he believes that with a debt-to-capital ratio of 95%, Carvana Co. (NYSE:CVNA) is likewise highly leveraged, and the stock is overvalued at its current price.

At the end of Q3 2022, 43 hedge funds in Insider Monkey’s database were long Carvana Co. (NYSE:CVNA). CAS Investment Partners remained the leading stakeholder of the company at the end of Q3 2022.

You can also take a look at 16 Biggest Hardware Companies in the World and 13 Best New Tech Stocks To Buy.

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