A record-breaking week is set to conclude on a positive note, as the markets edge higher on Friday after a strong retail data report out of the U.S. Investors are closely watching Ocean Power Technologies Inc (NASDAQ:OPTT), MGT Capital Investments Inc. (NYSEMKT:MGT), Stereotaxis Inc (NASDAQ:STXS), Brainstorm Cell Therapeutics Inc (NASDAQ:BCLI), and Great Basin Scientific Inc (NASDAQ:GBSN) today. Let’s find out why these stocks are of importance to investors today and see what the elite funds in our database think about them.
Our research, which determined that following the small-cap stocks that hedge funds are collectively bullish on can help a smaller investor beat the S&P 500 by around 95 basis points per month (see more details here).
Ocean Power Deploys Commercial PB3 PowerBuoy
Ocean Power Technologies Inc (NASDAQ:OPTT)’s stock has skyrocketed by 49.02% today after the company announced the deployment of its first commercial design of the PB3 PowerBuoy, at about four miles off the coast of New Jersey. PB3 has a redesigned power take-off feature, a modular energy storage system, power management and distribution system, and a new auto-ballasting system. In a statement, Ocean Power’s CEO George Kirby said that the PB3 represents the “final validation” to its prior versions. Mr. Kirby added that the PB3 PowerBuoy commercial project will give a competitive advantage to the company in areas such as ocean observing, oil and gas, security and defense, and communications. Just two hedge funds in our database were long Ocean Power Technologies Inc (NASDAQ:OPTT) at the end of the first quarter of 2016.
MGT Capital Acquires New Security System
MGT Capital Investments Inc. (NYSEMKT:MGT) shares have moved up by more than 9% today after the company announced the acquisition of a new intrusion monitoring system, Sentinel MGT, designed to protect corporate and enterprise intranets from advanced and sophisticated hacking threats. The Harrison, New York-based company also revealed its plans for a product based on the same technology scheduled, to be launched in November. The tool’s underlying technology was bought from Cyberdonix, Inc. for 150,000 restricted shares of MGT stock. No funds in our database owned MGT Capital shares at the end of the first quarter.
Find out why investors are interested in Brainstorm Cell Therapeutics, Stereotaxis, and Great Basin Scientific today on the next page.
Stereotaxis’ System Deployed at the University of Chicago Medicine
Shares of Stereotaxis Inc (NASDAQ:STXS) continue to gain value after the company said on Wednesday that the University of Chicago Medicine will implement its Niobe ES remote magnetic navigation system as part of a plan to create a cutting-edge arrhythmia technology suite. A press release by the St. Louis, Missouri-based company said that the Niobe system is a revolutionary invention in the field of cardiac ablation which helps treat the difficult-to-reach arrhythmias with high precision. Last week, Stereotaxis announced that the Texas Children’s Hospital in Houston also installed its Niobe ES system. Shares are up by 7% today and have soared by 33% over the past six trading sessions. Only four funds tracked by us held long positions in Stereotaxis Inc (NASDAQ:STXS) at the end of the first quarter.
Brainstorm Cell Therapeutics Inc (NASDAQ:BCLI) is taking it on the chin today, nosediving by 13% so far today. Shares of the biotechnology company, which is set to announce the results of its Phase 2 Study of NurOwn in Patients with ALS on July 18, had skyrocketed by 33% on Thursday. At the end of March, three hedge funds in our system held shares of Brainstorm Cell Therapeutics Inc (NASDAQ:BCLI).
Great Basin Scientific Sinks on Preliminary Results
Great Basin Scientific Inc (NASDAQ:GBSN) has lost 17.86% of its value today following the release of its preliminary results for the second quarter of 2016. Revenue for the quarter came in at $728,957, a 38.7% increase compared to the same quarter of last year. The company added 38 new customers during the quarter, lifting its customer base to 260. It’s unclear why the market has reacted so negatively to the company’s press release, which appears to be relatively positive. No funds that we track were long Great Basin Scientific Inc (NASDAQ:GBSN) as of March 31, after John Overdeck and David Siegel’s Two Sigma Advisors sold out of their small position in the stock during the first quarter.