5 Most Shorted Stocks to Watch in June

1. Beyond Meat, Inc. (NASDAQ:BYND)

Number of Hedge Fund Holders: 23

Float Shorted: 43.52%

Stock Price as of June 14: $22.27

Beyond Meat, Inc. (NASDAQ:BYND) is a Los Angeles, California-based developer and manufacturer of plant-based meat alternatives. The company announced on June 14 that its Cookout Classic value pack is available across 10,000 stores of notable retailers nationwide.

Traders shorting Beyond Meat, Inc. (NASDAQ:BYND) stock have been encouraged by a research note issued by Michael Lavery at Piper Sandler on June 7. The analyst maintained an Underweight rating on Beyond Meat, Inc. (NASDAQ:BYND) with a $12 target price. He highlighted that the positive response to the recently launched jerky is masking the overall slowdown in demand for the company’s products. Lavery does not have a positive stance on the rollout of the jerky and its success as opposed to the company’s previous launches in different categories.

Here’s what Singular Research said about Beyond Meat, Inc. (NASDAQ:BYND) 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.”

Of the 912 hedge funds in Insider Monkey’s database, 23 funds held a stake in Beyond Meat, Inc. (NASDAQ:BYND) as of Q1 2022.

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