Why These 5 Stocks Are Moving on Monday

2. Bed Bath & Beyond Inc. (NASDAQ:BBBY) has soared more than 40% after GameStop Corp. (NYSE:GME) Chairman Ryan Cohen revealed that he had taken a 9.8% stake in the stock of the homeware retail chain. Mr. Cohen wants the board to explore strategic alternatives to streamline its operations. He thinks that Bed Bath & Beyond Inc.’s (NASDAQ:BBBY) stock is undervalued and provides an attractive investment opportunity. Following this development, Zachary Fadem at Wells Fargo increased the target price on Bed Bath & Beyond Inc. (NASDAQ:BBBY) from $12 to $20. However, the analyst maintained an Underweight rating as he believes that the fundamentals are still weak and the company is operating in a structurally disadvantaged industry. Of the 924 hedge funds in Insider Monkey’s database, 17 held a stake in Bed Bath & Beyond Inc.’s (NASDAQ:BBBY) as of Q4 2021.