Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Axcelis Technologies Inc (NASDAQ:ACLS) but similarly valued. These stocks are Fly Leasing Ltd(ADR) (NYSE:FLY), Audentes Therapeutics Inc (NASDAQ:BOLD), Beazer Homes USA, Inc. (NYSE:BZH), and Baldwin & Lyons Inc (NASDAQ:BWINB). This group of stocks’ market caps are closest to ACLS’s market cap.
|Ticker||No of HFs with positions||Total Value of HF Positions (x1000)||Change in HF Position|
As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $89 million. That figure was $58 million in ACLS’s case. Beazer Homes USA, Inc. (NYSE:BZH) is the most popular stock in this table. On the other hand Baldwin & Lyons Inc (NASDAQ:BWINB) is the least popular one with only 7 bullish hedge fund positions. Axcelis Technologies Inc (NASDAQ:ACLS) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard BZH might be a better candidate to consider taking a long position in.