Is Global Power Equipment Group Inc (GLPW) A Good Stock To Buy?

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Since Global Power Equipment Group Inc (NASDAQ:GLPW) has experienced falling interest from the aggregate hedge fund industry, we can see that there lies a certain “tier” of fund managers who were dropping their positions entirely by the end of the third quarter. At the top of the heap, Jim Simons’ Renaissance Technologies dropped the biggest stake of the “upper crust” of funds monitored by Insider Monkey, totaling about $0.5 million in stock. Ben Levine, Andrew Manuel and Stefan Renold’s fund, LMR Partners, also dropped its stock, about $0.1 million worth. These moves are important to note, as aggregate hedge fund interest fell by 1 funds by the end of the third quarter.

Let’s go over hedge fund activity in other stocks similar to Global Power Equipment Group Inc (NYSE:GLPW). These stocks are S&W Seed Company (NASDAQ:SANW), Ocera Therapeutics Inc (NASDAQ:OCRX), AXT Inc (NASDAQ:AXTI), and BlueLinx Holdings Inc. (NYSE:BXC). This group of stocks’ market values resemble GLPW’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
SANW 5 8106 -1
OCRX 9 15385 -1
AXTI 4 9351 0
BXC 7 45941 -3

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 $20 million. That figure was $22 million in GLPW’s case. Ocera Therapeutics Inc (NASDAQ:OCRX) is the most popular stock in this table. On the other hand AXT Inc (NASDAQ:AXTI) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks Global Power Equipment Group Inc (NASDAQ:GLPW) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

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