12 Most Shorted Stocks in 2025

3. Hims & Hers Health, Inc. (NYSE:HIMS)

Number of Hedge Fund Holders: 38

Short % of Shares Outstanding (as of February 28): ~23.3%

Hims & Hers Health, Inc. (NYSE:HIMS) operates a telehealth platform, connecting consumers to licensed healthcare professionals. Analyst Craig Hettenbach from Morgan Stanley gave a “Hold” rating, setting a price objective of $60.00. The company has been showcasing a differentiated and scalable platform, increased gross margins, and strong leadership, which are positive indicators. Furthermore, the analyst’s rating demonstrates a disciplined investment approach, acknowledging Hims & Hers Health, Inc. (NYSE:HIMS)’s solid business momentum and the expectations of future entry points becoming more favourable. Elsewhere, BTIG analyst David Larsen upped the company’s price target, setting it at $85.00, an increase from the prior target of $35.00, while reiterating a “Buy” rating.

Hims & Hers Health, Inc. (NYSE:HIMS)’s revenue excluding its GLP-1 offering went up by 43% YoY to more than $1.2 billion in 2024, meeting its previous 2025 revenue target a year early. Consolidated revenue rose 69% YoY to ~$1.5 billion as the company’s weight loss offering has been providing an accelerant to such trends. This demonstrates the platform’s growing ability to enter new specialties and scale rapidly. Therefore, Hims & Hers Health, Inc. (NYSE:HIMS) continues to focus on building a set of core capabilities that can scale with efficiency.

Cedar Grove Capital Management, an investment management company, released its Q4 2024 investor letter. Here is what the fund said:

“The point of a hedge fund is to quite literally hedge the portfolio (shocking). When done right, it can be a great strategy to boost returns and reduce the impact of drawdowns as they occur.

While our recent hedge had a great outcome, investing is a constant learning journey, and we recently had a learning lesson with Hims & Hers Health, Inc. (NYSE:HIMS). This wasn’t a learning lesson because we were wrong (we weren’t) but because our view, or lack thereof, of an irrational market, acected our timing.

Below is our shared takeaway. Throughout this year, we’ve been very vocal about HIMS, mainly because it’s our second-largest holding and also because the long-term potential of cash-pay telehealth is immense. The name has done quite well for us, and if you’ve been a paid investor in our research, you know how frequently we update our research and commentary as news headlines come out that could materially alter the long thesis…” (Click here to read the full text)