Here’s What Hedge Funds Think About Energy Fuels Inc Ordinary Shares (Canada) (UUUU)

With a general bullishness amongst the heavyweights, some big names have jumped into Energy Fuels Inc Ordinary Shares (Canada) (NYSEMKT:UUUU) headfirst. Millennium Management initiated the most outsized position in Energy Fuels Inc Ordinary Shares (Canada) (NYSEMKT:UUUU). Millennium Management had $0.1 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also made an $0.1 million investment in the stock during the quarter.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Energy Fuels Inc Ordinary Shares (Canada) (NYSEMKT:UUUU) but similarly valued. We will take a look at Supercom Ltd (NASDAQ:SPCB), Consumer Portfolio Services, Inc. (NASDAQ:CPSS), Veracyte Inc (NASDAQ:VCYT), and Cadiz Inc (NASDAQ:CDZI). This group of stocks’ market values resemble UUUU’s market value.

As you can see these stocks had an average of 9 hedge funds with bullish positions and the average amount invested in these stocks was $19 million. That figure was $4 million in UUUU’s case. Consumer Portfolio Services, Inc. (NASDAQ:CPSS) is the most popular stock in this table. On the other hand Cadiz Inc (NASDAQ:CDZI) is the least popular one with only 6 bullish hedge fund positions. Compared to these stocks, Energy Fuels Inc Ordinary Shares (Canada) (NYSEMKT:UUUU) is even less popular than CDZI. Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case more research is warranted.