How Digirad Corporation (DRAD) Stacks Up Against Its Peers

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Digirad Corporation (NASDAQ:DRAD) has experienced an increase in enthusiasm from smart money recently. DRAD was in 7 hedge funds’ portfolios at the end of September. There were 5 hedge funds in our database with DRAD positions at the end of the previous quarter. At the end of this article we will also compare DRAD to other stocks including Hydra Industries Acquisition Corp. (NASDAQ:HDRA), Kindred Biosciences Inc (NASDAQ:KIN), and American Superconductor Corporation (NASDAQ:AMSC) to get a better sense of its popularity.

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A and N photography/Shutterstock.com

A and N photography/Shutterstock.com

Hedge fund activity in Digirad Corporation (NASDAQ:DRAD)

Heading into the fourth quarter of 2016, a total of 7 of the hedge funds tracked by Insider Monkey were long this stock, a jump of 40% from the second quarter of 2016. The graph below displays the number of hedge funds with bullish position in DRAD over the last 5 quarters. So, let’s find out which hedge funds were among the top holders of the stock and which hedge funds were making big moves.

HedgeFundSentimentChart

According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Jeffrey E. Eberwein’s Lone Star Value Management has the number one position in Digirad Corporation (NASDAQ:DRAD), worth close to $6 million, corresponding to 11.4% of its total 13F portfolio. The second largest stake is held by J. Carlo Cannell’s Cannell Capital which holds a $6 million position; 2.4% of its 13F portfolio is allocated to the stock. Some other hedge funds and institutional investors that hold long positions consist of Jim Simons’ Renaissance Technologies which is one of the largest hedge funds in the world, John Overdeck and David Siegel’s Two Sigma Advisors and Peter Algert and Kevin Coldiron’s Algert Coldiron Investors. We should note that none of these hedge funds are among our list of the 100 best performing hedge funds which is based on the performance of their 13F long positions in non-microcap stocks.

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