Here is What Hedge Funds Think About Electro Scientific Industries, Inc. (ESIO)

As aggregate interest increased, key money managers were leading the bulls’ herd. Algert Coldiron Investors, led by Peter Algert and Kevin Coldiron, assembled the biggest position in Electro Scientific Industries, Inc. (NASDAQ:ESIO). Algert Coldiron Investors had $1.3 million invested in the company at the end of the quarter. Neil Chriss’s Hutchin Hill Capital also initiated a $0.2 million position during the quarter.

Let’s go over hedge fund activity in other stocks similar to Electro Scientific Industries, Inc. (NASDAQ:ESIO). These stocks are Real Industry Inc (NASDAQ:RELY), Bankwell Financial Group Inc (NASDAQ:BWFG), Commercial Vehicle Group, Inc. (NASDAQ:CVGI), and Allied Motion Technologies, Inc. (NASDAQ:AMOT). This group of stocks’ market caps match ESIO’s market cap.

As you can see these stocks had an average of 7.25 hedge funds with bullish positions and the average amount invested in these stocks was $13 million. That figure was $21 million in ESIO’s case. Commercial Vehicle Group, Inc. (NASDAQ:CVGI) is the most popular stock in this table. On the other hand Bankwell Financial Group Inc (NASDAQ:BWFG) is the least popular one with only 4 bullish hedge fund positions. Electro Scientific Industries, Inc. (NASDAQ:ESIO) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard CVGI might be a better candidate to consider taking a long position in.