Singular Research, an investment management firm, published its October 2021 investor letter – a copy of which can be seen here. For the month of October, the Singular coverage list underperformed the S&P 500 and outperformed the Russell 2000 by (128) and 142 basis points, respectively. Over the last twelve months, the Singular coverage list outperformed the S&P 500 and Russell 2000 by 6,625 and 5,777 basis points, respectively. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.
Singular Research, in its Q3 2021 investor letter, mentioned Beyond Meat, Inc. (NASDAQ: BYND) and discussed its stance on the firm. Beyond Meat, Inc. is an El Segundo, California-based global plant-based protein company with a $4.3 million market capitalization. BYND delivered a -45.07% return since the beginning of the year, while its 12-month returns are down by -50.93%. The stock closed at $68.66 per share on December 21, 2021.
Here is what Singular Research has to say about Beyond Meat, Inc. in its Q3 2021 investor letter:
“BYND also was a low performer as the company warned of lower sales in the third quarter due to the delta variant and supply chain disruptions. The firm was also downgraded by Credit Suisse to Underperform from Neutral.”
Based on our calculations, Beyond Meat, Inc. (NASDAQ: BYND) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. BYND was in 16 hedge fund portfolios at the end of the third quarter of 2021, compared to 17 funds in the previous quarter. Beyond Meat, Inc. (NASDAQ: BYND) delivered a -39.66% return in the past 3 months.
In August 2021, we also shared another hedge fund’s views on BYND in another article. You can find more than 100 investor letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q3 page.
Disclosure: None. This article is originally published at Insider Monkey.