Is American Superconductor Corporation (AMSC) Worthy of Your Portfolio?

We already know that not all hedge funds are bullish on the stock and some hedge funds actually got rid of their positions entirely. It’s worth mentioning that GMT Capital got rid of the largest investment of all the investors followed by Insider Monkey, totaling close to $0.9 million in stock. Israel Englander’s fund, Millennium Management, also dropped its stock, about $0.4 million worth.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as American Superconductor Corporation (NASDAQ:AMSC) but similarly valued. These stocks are Ballantyne Strong Inc (NYSEAMEX:BTN), ASB Bancorp Inc (NASDAQ:ASBB), Carolina Bank Holding Inc. (NC) (NASDAQ:CLBH), and Aldeyra Therapeutics Inc (NASDAQ:ALDX). This group of stocks’ market values are similar to AMSC’s market value.

As you can see these stocks had an average of five hedge funds with bullish positions and the average amount invested in these stocks was $15 million. That figure was $4 million in AMSC’s case. Carolina Bank Holding Inc. (NC) (NASDAQ:CLBH) is the most popular stock in this table. On the other hand ASB Bancorp Inc (NASDAQ:ASBB) is the least popular one with only four bullish hedge fund positions. American Superconductor Corporation (NASDAQ:AMSC) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard CLBH might be a better candidate to consider taking a long position in.

Disclosure: None