Hot Tuesday Stocks That Hedge Funds Avoided: Plug Power Inc (PLUG), Himax Technologies, Inc. (HIMX)

What have hedge funds been doing with Plug Power Inc (NASDAQ:PLUG) and Himax Technologies, Inc. (ADR) (NASDAQ:HIMX)?

According to hedge fund intelligence website Insider Monkey, D.E. Shaw & Co., L.P., managed by David E. Shaw, holds the largest position in Plug Power Inc (NASDAQ:PLUG). The firm has an $854,000 position in the stock held in 329,570 shares, comprising less than 0.1% of its 13F portfolio. Coming in second is Joseph A. Jolson of Harvest Capital Strategies, with a $518,000 position in 200,000 shares; the fund has less than 0.1% of its 13F portfolio invested in the stock as well. Some other members of the smart money that are bullish comprise Ken Griffin’s Citadel Investment Group, and Cliff Asness’ AQR Capital Management. It’s worth mentioning that William C. Martin‘s Raging Capital Management cut the largest stake of the 700 funds tracked by Insider Monkey, totaling over $5.0 million in stock.

Polar Capital, managed by Brian Ashford-Russell and Tim Woolley, holds the number one position in Himax Technologies, Inc. (ADR) (NASDAQ:HIMX). Polar Capital has a $10.6 million position in the stock comprised of 1.68 million shares, making up 0.2% of its 13F portfolio. Coming in second is Millennium Management, managed by Israel Englander, which held a $5.3 million position of 844,667 shares; the fund has less than 0.1% of its 13F portfolio invested in the stock. Some other members of the smart money that are bullish consist of David E. Shaw’s D.E. Shaw & Co., L.P., Jim Simons’ Renaissance Technologies, and Matthew Hulsizer’s PEAK6 Capital Management. At the top of the heap among those that dumped Himax shares in the first quarter, Dmitry Balyasny‘s Balyasny Asset Management cut the biggest stake of all the hedgies watched by Insider Monkey, dumping 2.95 million shares valued at an estimated $23.8 million in stock. Josh Resnick’s fund, Jericho Capital Asset Management, also dumped its holding of 1.23 million shares worth about $9.9 million.

Because of the substantial decrease in smart money ownership among funds, we don’t think going long in Plug Power Inc (NASDAQ:PLUG) or Himax Technologies, Inc. (ADR) (NASDAQ:HIMX) is a good idea at this time.

Disclosure: None