How Pioneer Energy Services Corp (PES) Stacks Up Against Its Peers

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Seeing as Pioneer Energy Services Corp (NYSE:PES) has faced bearish sentiment from the smart money, it’s easy to see that there lies a certain “tier” of hedgies that elected to cut their entire stakes in the third quarter. At the top of the heap, Paul Tudor Jones’ Tudor Investment Corp got rid of the largest investment of all the hedgies watched by Insider Monkey, valued at about $0.1 million in stock, and Mike Vranos’ Ellington was right behind this move, as the fund cut about $0.1 million worth of shares also.

Let’s go over hedge fund activity in other stocks similar to Pioneer Energy Services Corp (NYSE:PES). We will take a look at Ignyta Inc (NASDAQ:RXDX), Safeguard Scientifics, Inc (NYSE:SFE), Kandi Technolgies Corp. (NASDAQ:KNDI), and Selecta Biosciences Inc (NASDAQ:SELB). All of these stocks’ market caps resemble PES’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
RXDX 16 94094 0
SFE 5 3546 -1
KNDI 3 741 2
SELB 5 36428 -2

As you can see these stocks had an average of 7 hedge funds with bullish positions and the average amount invested in these stocks was $34 million. That figure was just $4 million in PES’s case. Ignyta Inc (NASDAQ:RXDX) is the most popular stock in this table. On the other hand Kandi Technolgies Corp. (NASDAQ:KNDI) is the least popular one with only 3 bullish hedge fund positions. Pioneer Energy Services Corp (NYSE:PES) 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 and pouring money into. In this regard RXDX might be a better candidate to consider taking a long position in.

Disclosure: None

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