Hansen Medical, Inc. (HNSN): Hedge Funds Are Snapping Up

Now, some big names were leading the bulls’ herd. Firefly Value Partners established the most outsized position in Hansen Medical, Inc. (NASDAQ:HNSN). Firefly Value Partners had $0.7 million invested in the company at the end of the quarter.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Hansen Medical, Inc. (NASDAQ:HNSN) but similarly valued. These stocks are Perceptron, Inc. (NASDAQ:PRCP), Northern Technologies International Corp (NASDAQ:NTIC), Inuvo, Inc. (NYSEMKT:INUV), and TransAct Technologies Incorporated (NASDAQ:TACT). This group of stocks’ market valuations resemble HNSN’s market valuation.

As you can see these stocks had an average of 5 hedge funds with bullish positions and the average amount invested in these stocks was $10 million. That figure was $15 million in HNSN’s case. Perceptron, Inc. (NASDAQ:PRCP) is the most popular stock in this table while Northern Technologies International Corp (NASDAQ:NTIC) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks Hansen Medical, Inc. (NASDAQ:HNSN) registered the same level as Northern Technologies. Considering that hedge funds aren’t very bullish on this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case more research is warranted.