SciQuest, Inc. (SQI): Are Hedge Funds Right About This Stock?

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These stocks are Hi-Crush Partners LP (NYSE:HCLP), Pacific Ethanol Inc (NASDAQ:PEIX), KemPharm Inc (NASDAQ:KMPH), and NeoPhotonics Corp (NYSE:NPTN). This group of stocks’ market valuations are closest to SQI’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
HCLP 11 14719 2
PEIX 13 22055 -5
KMPH 8 60941 -2
NPTN 13 59956 -5

As you can see these stocks had an average of 11.25 hedge funds with bullish positions and the average amount invested in these stocks was $39 million. That figure was $58 million in SQI’s case. Pacific Ethanol Inc (NASDAQ:PEIX) is the most popular stock in this table. On the other hand KemPharm Inc (NASDAQ:KMPH) is the least popular one with only 8 bullish hedge fund positions. SciQuest, Inc. (NASDAQ:SQI) 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 PEIX might be a better candidate to consider a long position.

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