Let’s start with Capstone Turbine Corporation (NASDAQ:CPST), in which there were nine investors holding shares at the end of September 2017. The stock is up by 33.40% since then and in October it traded mostly above $1 per share. Capstone Turbine Corporation manufactures microturbine technology solutions for power generation, including combined heat and power, renewable energy, natural resources and critical power supply. Back in 2014, Capstone Turbine Corporation (NASDAQ:CPST) traded at well above $30 per share, but the drop in oil prices that resulted in less demand for its products. However, the company has reshaped its business model to focus on renewables and in the last several quarters, its revenue has showed signs of growth. Capstone Turbine Corporation (NASDAQ:CPST) has also secured several contracts and embarked on a cost-cutting program over the last year.
Then there’s Seadrill Ltd (NYSE:SDRL), which saw 10 investors from our database holding shares heading into the last quarter of 2017. Once the largest drilling rig operator in terms of market value, Seadrill Ltd (NYSE:SDRL) was hit hard when oil prices went south. In September, the company filed for bankruptcy, but it has high hopes that it will get through bankruptcy in less than a year. The company’s current plan involves offering existing shareholders 2% of the company and 15% to unsecured bondholders, but two other groups have also submitted their plans. Recently, Seadrill Ltd (NYSE:SDRL) has postponed a hearing on its restructuring plan for the third time, leaving more time to consider alternative proposals.
Gastar Exploration Inc (NYSEAMERICAN:GST) is another oil & gas company that was hit by the slump in oil prices. However, the company has adjusted to the changes and has taken measures to stay afloat. Most recently, Gastar Exploration Inc (NYSEAMERICAN:GST) has sold its interest in the West Edmund Hunton Lime Unit for $107.5 million. The deal will allow Gastar to fund its core STACK acreage development and the company plans to drill and complete 20 wells this year. There were 10 funds tracked by us long Gastar Exploration Inc (NYSEAMERICAN:GST) at the end of September.
In Curis, Inc. (NASDAQ:CRIS), the number of funds holding shares stood at 10 at the end of September. Curis, Inc. (NASDAQ:CRIS) is a clinical-stage biopharmaceutical company that is seeking to develop drug candidates for the treatment of cancers. The company’s stock is down by 69% over the last year, as it continues to burn through cash to fund its R&D on several drug candidates. In January, Curis, Inc. (NASDAQ:CRIS) launched a Phase 1 clinical trial of small molecule IRAK4 kinase inhibitor CA-4948 in lymphoma patients. IRAK4 or Interleukin-1 receptor-associated kinase 4, is a molecule inhibitor used in precision oncology and there are several major pharmaceutical companies also working on IRAK4 inhibitors.
Finally, WMIH Corp. (NASDAQ:WMIH) is by far the most popular penny stock among the hedge funds we track, as 22 funds held shares of the reinsurance company at the end of the third quarter of 2017. In 2014, WMIH Corp. (NASDAQ:WMIH), formerly known as Washington Mutual, got a large investment from KKR & Co. L.P. (NYSE:KKR) and the company was supposed to be a special purpose acquisition vehicle, although it hasn’t made any acquisitions since 2014.
Disclosure: none
