In this article, we discuss the 5 stocks that Jim Cramer is bearish on. If you want to read our detailed analysis of these stocks, go directly to Jim Cramer is Bearish on These 10 Stocks.
5. Insmed Incorporated (NASDAQ:INSM)
Number of Hedge Fund Holders: 18
Insmed Incorporated (NASDAQ:INSM) is a biopharma firm that develops therapies for rare diseases. On December 1, while answering a question on the Lightning Round of his show, Cramer gave the stock a negative mention.
Insmed Incorporated (NASDAQ:INSM) missed market estimates on earnings per share and revenue for the third quarter by $0.10 and $2.4 million respectively. The stock has slumped in value by over 31% in the past twelve months.
Among the hedge funds being tracked by Insider Monkey, California-based investment firm Palo Alto Investors is a leading shareholder in Insmed Incorporated (NASDAQ:INSM) with 6 million shares worth more than $165 million.
4. Matterport, Inc. (NASDAQ:MTTR)
Number of Hedge Fund Holders: 22
Matterport, Inc. (NASDAQ:MTTR) is a spatial data company based in California. The stock was given a Sell rating by the journalist investor on November 29 during the Lightning Round of Mad Money on CNBC.
Matterport, Inc. (NASDAQ:MTTR) posted earnings for the third quarter on November 3, reporting earnings per share of -$0.06, beating estimates by $0.01. The revenue over the period was $27 million, missing estimates by $1.4 million.
At the end of the third quarter of 2021, 22 hedge funds in the database of Insider Monkey held stakes worth $371 million in Matterport, Inc. (NASDAQ:MTTR).
In its Q3 2021 investor letter, Miller Value Partners, an asset management firm, highlighted a few stocks and Matterport, Inc. (NASDAQ:MTTR) was one of them. Here is what the fund said:
“Matterport Inc. (MTTR) took off during the quarter climbing 78.90% following the company’s de-SPAC in July. The company announced they have expanded ‘Matterport Capture Services’, their on demand digitization service, to 22 new US cities and added four in the United Kingdom. This will allow customers to schedule a technician to digitize any commercial or residential property and is now available in 51 US cities in total. The company also announced a beta version of its Notes collaboration tool, a conversational, real-time team collaboration, communication and file sharing tool inside the Matterport digital twin.”
3. Allbirds, Inc. (NASDAQ:BIRD)
Number of Hedge Fund Holders: N/A
Allbirds, Inc. (NASDAQ:BIRD) markets footwear and apparel products. Cramer gave the stock a Sell rating during the Featured Stock segment of his show December 2.
Allbirds, Inc. (NASDAQ:BIRD) has been losing money since the IPO and also has negative cash flows from operations. The firm recently also missed market estimates on earnings per share for the third quarter by $0.14.
Morgan Stanley analyst Kimberly Greenberger has an Equal Weight rating on Allbirds, Inc. (NASDAQ:BIRD) stock with a price target of $23.
2. Carnival Corporation & plc (NYSE:CCL)
Number of Hedge Fund Holders: 36
Carnival Corporation & plc (NYSE:CCL) is a leisure travel company based in Florida. The former hedge fund manager gave the stock a Sell rating during the Lightning Round of his show on November 29.
The rise of a new variant of COVID-19 has hit travel stocks like Carnival Corporation & plc (NYSE:CCL) in the past few weeks. The share price of Carnival Corporation has fallen close to 10% in the last five days.
At the end of the third quarter of 2021, 36 hedge funds in the database of Insider Monkey held stakes worth $520 million in Carnival Corporation & plc (NYSE:CCL), up from 31 in the previous quarter worth $456 million.
In its Q1 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Carnival Corporation & plc (NYSE:CCL) was one of them. Here is what the fund said:
“Several of our better performers in the first quarter were purchased while their business models were under stress from COVID restrictions or the macro environment the pandemic created. What gave us confidence in purchasing Carnival was the actions the company took to extend out their balance sheets until travel resumed. Both should benefit as a broader vaccination rollout prompts cruise lines to resume operations and consumers to start traveling again and are positioned to deliver better margins and gain pricing power as the economy normalizes due to the cost controls implemented during the downturn.”
1. Robinhood Markets, Inc. (NASDAQ:HOOD)
Number of Hedge Fund Holders: 20
Robinhood Markets, Inc. (NASDAQ:HOOD) is a California-based financial services platform. The shares have slumped by more than 8% in the past few days as the stock lockup period after the IPO expired. Cramer gave the stock a Sell rating during the Lightning round of his show on December 2.
Deutsche Bank analyst Brian Bedel recently opened up a Sell Catalyst Call on Robinhood Markets, Inc. (NASDAQ:HOOD) stock, terming it a short-term investment idea. The analyst has a Hold rating on the stock with a price target of $32 and said in a recent investor note that the shares may continue to dive in the near-term as a security breach drives away customers.
At the end of the third quarter of 2021, 20 hedge funds in the database of Insider Monkey held stakes worth $4.6 billion in Robinhood Markets, Inc. (NASDAQ:HOOD).
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