TCP International Holdings Ltd (TCPI): Are Hedge Funds Right About This Stock?

As industrywide interest jumped, key money managers have been driving this bullishness. Millennium Management, managed by Israel Englander, created the most outsized position in TCP International Holdings Ltd (NYSE:TCPI).

Let’s check out hedge fund activity in other stocks similar to TCP International Holdings Ltd (NYSE:TCPI). We will take a look at Cancer Genetics Inc (NASDAQ:CGIX), Petroquest Energy Inc (NYSE:PQ), Timberland Bancorp, Inc. (NASDAQ:TSBK), and Good Times Restaurants Inc. (NASDAQ:GTIM). This group of stocks’ market caps are similar to TCPI’s market cap.

As you can see these stocks had an average of 6.25 hedge funds with bullish positions and the average amount invested in these stocks was $9 million. That figure was $5 million in TCPI’s case. Petroquest Energy Inc (NYSE:PQ) is the most popular stock in this table. On the other hand Cancer Genetics Inc (NASDAQ:CGIX) is the least popular one with only 4 bullish hedge fund positions. TCP International Holdings Ltd (NYSE:TCPI) 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 PQ might be a better candidate to consider a long position.