In a series of recent filings with the Securities and Exchange Commission, Archon Capital Management has disclosed an increase in its holding of iCAD Inc (NASDAQ:ICAD) and Procera Networks Inc (NASDAQ:PKT) stocks. The fund’s manager, Constantinos J. Christofilis has added approximately 385,000 shares of iCAD to the equity portfolio, taking the position to 983,800 shares which account for 7.14% of the company’s common stock. In another move, Christofilis has increased his fund’s stake in Procera Networks, taking it to 2.02 million shares or 9.78% of the total number of shares outstanding.
Jim Simons is also a fan of iCAD Inc (NASDAQ:ICAD), having increased his fund’s holding of the stock by 28% during the last quarter of 2013. In its latest 13F filing, Renaissance Technologies reported ownership of approximately 347,100 shares. Andy Redleaf, the manager of Whitebox Advisors, has, on the other hand, reduced his fund’s exposure to this stock, taking it to approximately 111,300 shares.
A provider of software and services for healthcare professionals, iCAD Inc (NASDAQ:ICAD) has a market cap of $113 million. So far in 2014, the stock has depreciated by approximately 30% and is currently trending down. The company posted $9.13 million in revenues and a loss of $0.41 per share. Analysts estimate $7.95 million in revenues and a loss per share of $0.41.
Procera Networks
Procera Networks Inc (NASDAQ:PKT) stock has been trending down since July 2012 and has fallen 39% so far this year. With a current share price of $9.10, the company is valued at approximately $188 million. Procera Networks provides policy enforcement solutions for mobile and broadband network operators and has reported revenues of $21.3 million and a loss per share of $0.16, for the last quarter of 2013. 2014 first quarter is expected to bring $15.3 million in revenues and a loss per share of $0.12. The stock is mainly touted as a Buy.
Chuck Royce also likes Procera Networks Inc (NASDAQ:PKT) and has increased his investment in the stock during the fourth quarter of 2013. His fund, Royce & Associates, holds approximately 261,500 shares, according to its latest 13F report. Mark Broach is also keeping an eye on this stock with his fund, Manatuck Hill Partners, holding 478,000 shares in its latest 13F filing.
Christofilis is a big fan of 8×8, Inc. (NASDAQ:EGHT) and has built an important position, which accounts for approximately 12% of his fund’s equity portfolio. In its latest 13F filing, Archon Capital has reported ownership of 3.03 million shares. The fund has also revealed a massive, 629% increase in its holding of Rackspace Hosting, Inc.(NYSE:RAX) during the 2013 fourth quarter and it now holds 574,600 shares. Christofilis is also optimistic about the potential of Incontact Inc ,(NASDAQ:SAAS), having increased his stake by 69% to 3.07 million shares.
Disclosure: none.
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