Potomac Capital Partners Opens Position in Meru Networks, Inc. (MERU)

Potomac Capital Partners III, L.P. is betting on Meru Networks, Inc. (NASDAQ:MERU). In a recent filing with the Securities and Exchange Commission, Potomac Capital revealed opening a position in Meru Networks. The fund currently holds 1,171,226 shares which account for 5.2% of the company’s common stock. The position is passive by nature, although Potomac Capital does not dismiss the possibility of interfering with Meru Networks management in the future.

Meru Networks, Inc. (MERU)

David E. Shaw and his fund, D E Shaw, are keeping an eye on Meru Networks, Inc. (NASDAQ:MERU), as they currently hold 1.4 million shares reportedly worth a little over $4.6 million. D E Shaw has not made any changes to its position during the third quarter of 2013. Mark N. Diker has increased his fund’s holding of the stock by 28% during Q3. Diker Management has reported in their latest 13F filing the ownership of 1.16 million shares valued at $3.8 million. Richard Driehaus has, on the other hand, been limiting his fund’s exposure to Meru Networks. During Q3, Driehaus Capital has decreased its investment to 729,288 shares valued at $2.4 million.

Meru Networks, Inc. (NASDAQ:MERU) provides wireless communication services. In 2013, the stock had advanced 162% to an April high of $6.96. It later fell considerably and has been trending sideways since August, in the range of $3-$4 per share. With a current share price of $3.52, the company has a market cap of $79.7 million. The stock has a beta of 1.54 and does not pay a dividend.

On November 1st, Meru Networks released its quarterly financial report. For the three months ended September 30, 2013, the company reported revenues of $19.6 million and a loss per share of $0.16. Analysts expect the company to post revenues of $27 million and a loss of $0.06 per share at the end of the current quarter.

Disclosure: none

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