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Should You Avoid API Technologies Corp (ATNY)?

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API Technologies Corp (NASDAQ:ATNY) has experienced a decrease in hedge fund interest of late.

At the moment, there are many indicators shareholders can use to monitor the equity markets. A duo of the most useful are hedge fund and insider trading sentiment. At Insider Monkey, our studies have shown that, historically, those who follow the best picks of the best investment managers can trounce the market by a healthy margin (see just how much).

Nelson Obus

Equally as integral, optimistic insider trading activity is a second way to parse down the investments you’re interested in. Obviously, there are a variety of incentives for an executive to drop shares of his or her company, but only one, very obvious reason why they would behave bullishly. Plenty of empirical studies have demonstrated the impressive potential of this method if you understand what to do (learn more here).

With these “truths” under our belt, it’s important to take a glance at the recent action surrounding API Technologies Corp (NASDAQ:ATNY).

What does the smart money think about API Technologies Corp (NASDAQ:ATNY)?

In preparation for this year, a total of 7 of the hedge funds we track held long positions in this stock, a change of -22% from one quarter earlier. With hedge funds’ capital changing hands, there exists an “upper tier” of noteworthy hedge fund managers who were boosting their holdings significantly.

When looking at the hedgies we track, Senator Investment Group, managed by Doug Silverman, holds the most valuable position in API Technologies Corp (NASDAQ:ATNY). Senator Investment Group has a $17.4 million position in the stock, comprising 0.4% of its 13F portfolio. Coming in second is Wynnefield Capital, managed by Nelson Obus, which held a $8.4 million position; the fund has 2.9% of its 13F portfolio invested in the stock. Some other hedgies with similar optimism include Kyle Bass’s Hayman Advisors, Phil Frohlich’s Prescott Group Capital Management and John Fichthorn’s Dialectic Capital Management.

Due to the fact that API Technologies Corp (NASDAQ:ATNY) has experienced falling interest from hedge fund managers, it’s safe to say that there was a specific group of fund managers that slashed their positions entirely at the end of the year. Interestingly, Brett Hendrickson’s Nokomis Capital sold off the biggest investment of the 450+ funds we monitor, comprising close to $1.7 million in stock., and Dale Chappell of Black Horse Capital was right behind this move, as the fund sold off about $0.5 million worth. These transactions are interesting, as aggregate hedge fund interest dropped by 2 funds at the end of the year.

What have insiders been doing with API Technologies Corp (NASDAQ:ATNY)?

Insider buying is particularly usable when the company in question has seen transactions within the past six months. Over the last half-year time frame, API Technologies Corp (NASDAQ:ATNY) has seen 2 unique insiders buying, and 2 insider sales (see the details of insider trades here).

Let’s check out hedge fund and insider activity in other stocks similar to API Technologies Corp (NASDAQ:ATNY). These stocks are Kopin Corporation (NASDAQ:KOPN), GSI Technology, Inc. (NASDAQ:GSIT), Alliance Fiber Optic Products Inc (NASDAQ:AFOP), NeoPhotonics Corp (NYSE:NPTN), and LDK Solar Co., Ltd (ADR) (NYSE:LDK). This group of stocks are in the semiconductor – broad line industry and their market caps resemble ATNY’s market cap.

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