Why Are Skypeople Fruit Juice, Sunworks, Emerson Electric and Two Other Stocks on the Move Today?

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.

Actuant Corporation Posts Mixed Quarterly Results

Actuant Corporation (NYSE:ATU)’s stock has plunged even though the company posted better-than-expected fiscal third quarter financial results. The industrial products maker reported earnings per share of $0.40, above the estimates of $0.37, while revenue of $305.3 million topped analysts’ estimates of $294.2 million. However, consolidated sales declined by 5% on the year and core sales plummeted by 6% on a year-over-year basis, while profit slid by 44.2%. Actuant Corporation’s CEO Randal Baker said that “unfavorable” segment sales mix and manufacturing underabsorption dented margins in the quarter. For full fiscal year the company expects its adjusted EPS between $1.20 and $1.25 a share. Mason Hawkins’ Southeastern Asset Management is one of the nine investors tracked by us, which reported stakes in Actuant Corporation (NYSE:ATU) as of the end of March.

Inventergy Global Receives Patent Grants

Shares of Inventergy Global Inc (NASDAQ:INVT) have surged by more than 20% after the company announced on Monday that it had received grants and notices of allowance for 23 patents, 15 of which are regarding five families of the IMS/VoIP portfolios which were purchased from Nokia and Huawei, whereas the remaining eight patents in three families are included in the Mobile Broadband portfolio purchased from Panasonic. Joe Beyers, CEO of the intellectual property investment and licensing company, said that Inventergy Global Inc (NASDAQ:INVT) continues to broaden its monetization revenue stream by investing in its patent portfolio. Three hedge funds out of those tracked by us had positions in Inventergy Global Inc (NASDAQ:INVT) at the end of March.

Emerson Electric Suffers Due to Declining Spendings by Customers

Emerson Electric Co. (NYSE:EMR)’s stock inched down after the company said in a SEC filing that trailing three-month orders as of the end of May declined by 5% as the company continues to suffer due to lower general industrial capital spending and plummeting operational and capital spending by its global oil and gas customers. The Missouri-based manufacturer and engineering services provider now expects to increase its restructuring expenses to approximately $90 million to $100 million in fiscal 2016, up from its previous target of $70 million to $80 million. Charles De Vaulx’s International Value Advisers owns more than 1.27 million shares of Emerson Electric Co. (NYSE:EMR) as of the end of the first quarter. Overall, 34 funds from our database are bullish on the company.

Disclosure: none