The most recent 13F reporting period has come and gone, and Insider Monkey is back on top when it comes to leveraging this goldmine of data. We have processed the filings of more than 866 top investment firms that we track and now have access to the aggregated insights of these filings, based on their holdings as of March 31, data not available anywhere else. Should you choose Fujian Blue Hat Interactive Entertainment Technology Ltd. (NASDAQ:BHAT) for your portfolio? We will use this invaluable collective wisdom to answer.
Is BHAT a good stock to buy? Fujian Blue Hat Interactive Entertainment Technology Ltd. (NASDAQ:BHAT) has seen a surge in interest in hedge funds recently. Fujian Blue Hat Interactive Entertainment Technology Ltd. (NASDAQ:BHAT) was in the portfolios of 3 hedge funds at the end of the first quarter of 2021. The all-time high for this statistic is 3. This means that the bullish number of hedge fund positions in this stock is currently at its all-time high. Our calculations also showed that BHAT is not one of the The 30 most popular stocks among hedge funds (Click for Q1 rankings).
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John Overdeck from Two Sigma
John Overdeck of Two Sigma Advisors
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Do hedge funds think BHAT is a good stock to buy now?
At the end of the first quarter, a total of 3 of the hedge funds tracked by Insider Monkey were long in this stock, up 50% from the previous quarter. The graph below shows the number of hedge funds with a bullish position in BHAT over the past 23 quarters. So let’s take a look at which hedge funds were among the top holders in the stock and which hedge funds were making big strides.
When looking at institutional investors, followed by Insider Monkey, Renaissance Technologies has the leading position at Fujian Blue Hat Interactive Entertainment Technology Ltd. (NASDAQ: BHAT) with a value of almost 0.9 million portfolio. On the heels of Renaissance Technologies is Two Sigma consultants, managed by John Overdeck and David Siegel, who has a position of $ 0.1 million; less than 0.1% of the 13F portfolio is allocated to the company. In relation to the portfolio weights assigned to each position Renaissance technologies the largest weighting Fujian Blue Hat Interactive Entertainment Technology Ltd. (NASDAQ: BHAT), with around 0.0011% of its 13F portfolio. Two Sigma Advisors is also relatively bullish on the stock, referring to 0.0003 percent of its 13F stock portfolio for BHAT.
As industry interest skyrocketed, certain asset managers drove this upward trend. Two Sigma Advisors, led by John Overdeck and David Siegel, hold the largest position in Fujian Blue Hat Interactive Entertainment Technology Ltd. (NASDAQ: BHAT) initiated. Two Sigma Advisors had invested $ 0.1 million in the company at the end of the quarter. Ken Griffins Citadel investment group also made a $ 0.1 million investment in the stock during the quarter.
Let’s look at the hedge fund activity in other stocks that Fujian Blue Hat Interactive Entertainment Technology Ltd. (NASDAQ: BHAT) are similar. We will join PHX Minerals Inc. (NYSE:PHX), TESSCO Technologies, Inc. (NASDAQ:TESS), Biomerica, Inc. (NASDAQ:BMRA), EZGO Technologies Ltd. (NASDAQ:EZGO), NXT-ID Inc. (NASDAQ:NXTD), Ocuphire Pharma, Inc. (NASDAQ:deal) and Monaker Group, Inc. (NASDAQ:MKGI). The market capitalization of this group of stocks is similar to BHAT’s market capitalization.
[table] Ticker, number of HRs with positions, total value of HR positions (x1000), change in HR position PHX, 5.6822, -1 TESS, 2.4116, -1 BMRA, 1.153.0 EZGO, 2,372.2 NXTD, 1 , 21.1 OCUP, 4.1761.3 MKGI, 1.74, -1 average, 2.3.1903.0.4 [/table]
See table here when formatting problems occur.
As you can see, these stocks had an average of 2.3 hedge funds with bullish positions and the average amount invested in these stocks was $ 2 million. That number was $ 1 million in the case of BHAT. PHX Minerals Inc. (NYSE:PHX) is the most popular stock in this table. On the other hand, Biomerica, Inc. (NASDAQ:BMRA) is the least popular with only 1 bullish hedge fund positions. Fujian Blue Hat Interactive Entertainment Technology Ltd. (NASDAQ: BHAT) isn’t the most popular stock in this group, but interest in hedge funds is still above average. Our overall hedge fund sentiment score for BHAT is 61. Stocks with a higher number of hedge fund positions compared to other stocks and relative to their historical range receive a higher sentiment score. This is a slightly positive sign, but we prefer to spend our time researching stocks that are amassed by hedge funds. Our calculations have shown that Top 5 most popular stocks among hedge funds returned 95.8% in 2019 and 2020, outperforming the S&P 500 ETF (SPY) by 40 percentage points. These stocks rose 17.2% through June 11, 2021, again beating the market 3.3 percentage points. Unfortunately, BHAT wasn’t nearly as popular as these 5 stocks and hedge funds that bet on BHAT were disappointed as the stock returned -35.3% since late March (through 11/6) and lagged the market. If you’re interested in investing in large-cap stocks with big upside potential, this is the place to go Top 5 most popular stocks among hedge funds, as many of these stocks have already outperformed the market since 2019.
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Disclosure: None. This article was originally published at Insider monkey.