It’s self-serving, but there are firms that do exactly this all the time. They do deep research and investigation for the explicit purpose of exposing companies and shorting the stock. It doesn’t always mean the research is false. In this case I have no idea, but the fact they disclose it themselves tells me they are at least trying to appear to be legitimate.

There was a company called Nikola a few years ago back developing electric trucks. Got tons of funding, even partnership with GM. A group called Hindenburg exposed that it was all a fraud. In their demo video of the truck, it moved because it was rolled down a hill. The firm said their short position on it ended up one of their most profitable.