Markets have inched down on Wednesday afternoon amid a weakening dollar and a drop in oil prices.
Among the stocks on investors’ radars are Skypeople Fruit Juice Inc (NASDAQ:SPU), Sunworks Inc (NASDAQ:SUNW), Actuant Corporation (NYSE:ATU), Inventergy Global Inc (NASDAQ:INVT) and Emerson Electric Co. (NYSE:EMR). Let’s examine the factors that put these stocks in the spotlight today and see what the funds from our database think about them.
The smart money sentiment is an important metric that can be used to assess the long-term profitability of a stock. While there are thousands of stocks trading daily on the market, taking a look at what hedge funds think about certain companies can narrow down the search significantly. At Insider Monkey, we track more than 700 hedge funds, whose 13F filings we analyze as part of our small-cap strategy. Our research has shown that imitating a portfolio that includes the 15 most popular small-cap stocks among hedge funds can outperform the market by as much as 95 basis points per month on average (see more details here).
Skypeople Fruit Juice Surges After Latest Filings
Skypeople Fruit Juice Inc (NASDAQ:SPU)’s stock surged by over 40% today after a SEC filing revealed that Hedetang Holdings Co., Ltd, a Skypeople Fruit Juice’s subsidiary entered into a Share Transfer Agreement with Shaanxi New Silk Road Kiwifruit Group Inc., a limited liability corporation registered in China on June 15, 2016. Pursuant to the Agreement, NSR will acquire 51% of the equity shares of Shaanxi Guoweiduomei Beverage Co, Limited, a wholly-owned subsidiary of Hedetang. Another Form 8-k filing shows that on May 31, Skypeople Fruit Juice’s China entity transferred its wholly owned subsidiary Hedetang Holdings Co., Ltd to Skypeople Foods China for approximately $7.69 million. Jim Simons’ Renaissance Technologies owns 17,051 shares of Skypeople Fruit Juice Inc (NASDAQ:SPU) at the end of the first quarter.
Sunworks Awarded New Orders
Shares of Sunworks Inc (NASDAQ:SUNW) have grown by 9% so far today after the company announced that its agricultural and commercial divisions have been awarded new commercial solar solution orders worth $24 million in aggregate. In a statement, the California-based photo voltaic power systems company said that the new orders and robust residential business increased the company’s backlog to over $50 million at the end of May, a record high. The company has also experienced strong sales in June. CEO of Sunworks, Jim Nelson, said that the latest gains depict the company’s continued ability to win market share. Only three funds from our database were bullish on Sunworks Inc (NASDAQ:SUNW) at the end of the first quarter of 2016.
We will discuss Actuant Corporation, Inventergy Global and Emerson Electric on the next page.