Perlus Investment Management LLP has increased its position in Sutron Corporation (NASDAQ:STRN), a filing with the SEC revealed. The fund currently holds around 545,900 shares, up from 258,700 shares held earlier. The position amasses 10.8% of the company’s outstanding stock.
Currently, only one other hedge fund owns Sutron Corporation (NASDAQ:STRN) shares according to Insider Monkey database. Gregory Fraser, Rudolph Kluiber, And Timothy Krochuk’s Grt Capital Partners, has lowered the number of shares it holds to 47,204, valued at $236. The rest of the activity has largely been insider trading.
Sutron Corporation (NASDAQ:STRN) the Virginia based scientific testing and measuring equipment manufacturer has in the past seen a good third quarter in 2013. Revenue earnings for the quarter were well over 13% over the second quarter at $7.1 million. The net income was $486,975 making up for the loss of $53,170 the company made in the last quarter.
Typically, the instrument maker develops products on a need-basis, when requests are placed by government departments or others. The cycle is usually project-based and the instruments vary from testing as well as data measuring equipment for departments as diverse as meteorology, hydrology or aviation sectors.
Sutron Corporation (NASDAQ:STRN) is known to be one of the major players in this field, quite often innovating and setting the standards for global testing and measurement production and design. One of the best performers for the company, this quarter was the MeteoStar division. The company saw in increase to $1.5 million in revenue, from $1.2 million in the last quarter, thanks to some positive contractual sales.
Perlus Investment Management LLP, in addition to Sutron Corporation (NASDAQ:STRN) also holds an interest in Deep Down Inc. (OTCMKTS:DPDW), in which it owns 1.1 million shares, equal to 10.9% of the outstanding stock.