Gregory A. Weaver, Invicta Capital Management Dump The Stake in American Electric Technologies, Inc. (AETI)

Gregory A. Weaver has closed his fund’s investment in American Electric Technologies, Inc. (NASDAQ:AETI). In a recent filing with the Securities and Exchange Commission, Invicta Capital Management revealed the sale of the 645,410 shares it had previously owned. According to the fund’s latest 13F report, the stake was worth approximately $6.4 million.

According to our database, only two other hedge funds that we track are invested in American Electric Technologies, Inc. (NASDAQ:AETI).  John W. Rogers‘ Ariel Investments holds over 1 million shares, up 29% during Q4 of 2013, reportedly worth $10.2 million. Jim Simons is also interested in this stock, with his fund increasing its stake by 14% last quarter. Renaissance Technologies owns 57,400 shares valued at $573,000.

American Electric Technologies, Inc. (NASDAQ:AETI) is a provider of power delivery solutions for the energy industry. The company has a market cap of $55 million and does not pay a dividend. Since the start of 2014, the stock has fallen 30% to a current price of $6.87. It is traded at a trailing Price to Earnings (P/E) ratio of 14.40, significantly lower than the industry average of 31.70. For the three months ended December 31, 2013, American Electric Technologies reported revenues of $18.1 million, a 20% year-over-year increase, and earnings of $0.07 per diluted share, up from $0.06 posted for the same period in 2012.

Weaver is also bullish on Himax Technologies, Inc. (ADR) (NASDAQ:HIMX). During the fourth quarter of 2013, Invicta Capital has added 94% to its previous holding, taking it to 900,000 shares worth approximately $13.2 million. Weaver has also added to the fund’s largest position – Infoblox Inc (NYSE:BLOX), in which it currently holds 825,000 shares valued at $27.2 million.

Disclosure: none.

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