Here Is What Hedge Funds Think Of Nano-Cap Stock Cosi Inc (COSI)

Earlier, we told you that the aggregate hedge fund interest in the stock was unchanged and we view this as a negative development. Even though there weren’t any hedge funds dumping their holdings during the third quarter, there weren’t any hedge funds initiating brand new positions either. This indicates that hedge funds, at the very best, perceive this stock as dead money and haven’t identified any viable catalysts to attract their attention.

Let’s check out hedge fund activity in other stocks similar to Cosi Inc (NASDAQ:COSI). We will take a look at CHC Group Ltd (NYSE:HELI), Eleven Biotherapeutics Inc (NASDAQ:EBIO), Zosano Pharma Corp (NASDAQ:ZSAN), and Network-1 Technologies Inc (NYSEMKT:NTIP). All of these stocks’ market caps are closes to Cosi Inc (NASDAQ:COSI)’s market cap.

As you can see, these stocks had an average of 5 hedge funds with bullish positions and the average amount invested in these stocks was $3 million. That figure was $6 million in Cosi Inc (NASDAQ:COSI)’s case. CHC Group Ltd (NYSE:HELI) is the most popular stock in this table. On the other hand, Eleven Biotherapeutics Inc (NASDAQ:EBIO) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks, Cosi Inc (NASDAQ:COSI) is tied for the least support, though it does have more money invested in it than any of the other stocks. Considering that the investors which do like it have $1.5 million invested in it on average, which is quite high for a nano-cap company, it may be worthwhile to look into why they like this stock.