(This is the first in what is intended to be an irregular series about micro-cap stocks that have attracted hedge fund interest.)
PowerFleet (Nasdaq:PWFL), which makes RFID devices to track delivery vans, loaded in truckloads of money from nine different hedge funds last month. The stock was a savvy investor's back door into the logistics industry, which skyrocketed during the pandemic lockdown. PWFL, though, struggled in April and was ripe pickings in May.
Meantime, eight hedge funds bought into Catalyst Biosciences (Nasdaq:CBIO), which develops hemophilia treatments. Maybe those fund managers know something the rest of us don't because, judging by CBIO's performance the past six months, this company should really be focused on anemia.