Is Fluidigm Corporation (FLDM) A Good Stock To Buy?

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Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that dropped their entire stakes in the stock during the third quarter. Intriguingly, Vishal Saluja and Pham Quang’s Endurant Capital Management dropped the biggest position of the “upper crust” of funds watched by Insider Monkey, totaling an estimated $2.3 million in stock, and Ken Greenberg and David Kim’s Ghost Tree Capital was right behind this move, as the fund dumped about $1.4 million worth of shares.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Fluidigm Corporation (NASDAQ:FLDM) but similarly valued. These stocks are CSS Industries, Inc. (NYSE:CSS), Reis Inc (NASDAQ:REIS), Quotient Ltd (NASDAQ:QTNT), and Hallador Energy Co (NASDAQ:HNRG). All of these stocks’ market caps are closest to FLDM’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
CSS 4 38011 -1
REIS 4 29427 0
QTNT 9 73889 1
HNRG 7 4243 1

As you can see these stocks had an average of 6 hedge funds with bullish positions and the average amount invested in these stocks was $36 million. That figure was $61 million in FLDM’s case. Quotient Ltd (NASDAQ:QTNT) is the most popular stock in this table. On the other hand CSS Industries, Inc. (NYSE:CSS) is the least popular one with only 4 bullish hedge fund positions. Fluidigm Corporation (NASDAQ:FLDM) 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 QTNT might be a better candidate to consider taking a long position in.

Disclosure: None

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