Sophrosyne Capital, LLC added APPY to their holding for 9.15% on 11/27/12. By the time the next quarterly holdings report comes out, institutional ownership could increase substantially due to their just concluded offering last Nov 20.
With 7m shares O/S and 6m shares in the float, and with only 4% short interest, APPY could do a BMGD move if it obtains the anticipated CE Mark by year end.