Three Stocks Surge on Monday but See What Hedge Funds Say about Their Long-Term Run

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The stock of the producer of micro-acoustic solutions, Knowles Corp (NYSE:KN) has advanced by more than 8% in Monday intraday trading on a volume roughly double compared to average. The gains come on the back of FBR & Co. issuing a note in which it upgraded the stock to ‘Market Perform’ from ‘Underperform’ and increased the price target to $18 from $17. The stock overall has a consensus price target above $22, which represents a premium of roughly 35% to the current price. However, among the funds from our database, Knowles Corp (NYSE:KN) lost some popularity between April and June, as the number of funds with long positions slid by five to 16, while the total value of their holdings fell to $142.54 million from $153.06 million and accounted for 9.30% of the company’s market value at the end of June. Among these investors, the largest stake is held by David Goel and Paul Ferri’s Matrix Capital Management, which reported owning 2.69 million shares in its latest 13F.

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Finally, Ballard Power Systems Inc. (USA) (NASDAQ:BLDP)‘s stock opened higher but has retracted by around six percentage points to 7% in the green on huge trading volume, roughly four times more than average. The news that fueled today’s growth comes from China, where Ballard Power System inked a $6 million joint development and supply agreement  with the rolling stock manufacturer CRRC Qingdao Sifang. Ballard Power Systems Inc. (USA) (NASDAQ:BLDP), which develops proton exchange membrane fuel cells, will develop a fuel cell engine together with CRRC Sifang, which will be used in low-floor trams manufactured by the latter. The new deal could increase the confidence of investors in Ballard Power Systems Inc. (USA) (NASDAQ:BLDP), because so far it has been lagging with only three funds from our database owning shares with an aggregate value of $782,000. Among them, the largest stake is held by Jim Simons’ Renaissance Technologies, which owns 320,300 shares.

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Disclosure: None

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