Should You Hold Helios Technologies (HLIO)?

Wasatch Global Investors, an asset management company, released its “Wasatch Small Cap Growth Strategy” third-quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy underperformed its benchmark indexes, the Russell 2000 Growth Index and the Russell 2000 Index. The weakness of investments in health care, information technology (IT), and industrials was responsible for the underperformance of the strategy in the quarter relative to the Russell 2000 Growth Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Wasatch Global Investors highlighted stocks like Helios Technologies, Inc. (NYSE:HLIO) in the Q3 2022 investor letter. Headquartered in Sarasota, Florida, Helios Technologies, Inc. (NYSE:HLIO) is an industrial technology company that operates in  Hydraulics and Electronics segments. On December 8, 2022, Helios Technologies, Inc. (NYSE:HLIO) stock closed at $53.99 per share. One-month return of Helios Technologies, Inc. (NYSE:HLIO) was 0.00%, and its shares lost 46.70% of their value over the last 52 weeks. Helios Technologies, Inc. (NYSE:HLIO) has a market capitalization of $1.758 billion.

Wasatch Global Investors made the following comment about Helios Technologies, Inc. (NYSE:HLIO) in its Q3 2022 investor letter:

“The stock of Helios Technologies, Inc. (NYSE:HLIO) was down, too. The company develops and manufactures hydraulic and electronic control products including cartridge valves and manifolds that regulate force, speed and motion in fluid power systems. The stock had been an especially good performer in 2021. And we still like the company. But the stock has been down substantially in 2022 on fears regarding a slowing economy and consumers’ budgets being pinched.”

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Helios Technologies, Inc. (NYSE:HLIO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 14 hedge fund portfolios held Helios Technologies, Inc. (NYSE:HLIO) at the end of the third quarter, which was 8 in the previous quarter. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.