5 Investors Betting Big on Camber Energy (CEI) Stock

  • Camber Energy (NYSEMKT:CEI) expects to complete a 1-for-50 reverse stock split on Dec. 21.
  • Antilles Family Office is the largest shareholder of the company, although its stake is only accurate as of May.
  • Shares of CEI stock are down by over 85% year to date.
CEI stock - 5 Investors Betting Big on Camber Energy (CEI) Stock

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Shares of Camber Energy (NYSEMKT:CEI) closed higher by about 77% following last week’s announcement that the company’s board had approved a 1-for-50 reverse stock split. Camber originally expected the consolidation to be active on the morning of Dec. 30. However, a press release published last Friday shows that the consolidation date will now be active on the morning of Dec. 21.

Following the reverse split, there will be a total of 20 million authorized shares, down from 1 billion. Furthermore, there will be about 16.3 million shares of outstanding common stock, down from 814.4 million. So, why exactly is Camber pursuing a reverse split?

Last month, the energy company received a compliance notice from the NYSE American Exchange. NYSE American pointed out that the average 30-day trading price of CEI stock was less than the minimum requirement price of 20 cents, which is a violation. As a result, Camber has until May 7, 2023 to regain compliance.

With a solution in store, pressure has been eased on CEI. Let’s take a look at the investors betting big on the company.

5 Investors Betting Big on CEI Stock

Tracking institutional ownership is important, as these large investors provide liquidity and support for stocks. During the third quarter, 52 funds reported owning CEI, which remained unchanged from Q2. Meanwhile the institutional put/call ratio sits at 0.09, down from 0.25. That’s equivalent to about 341,600 puts and 3.6 million calls, implying a bullish options stance. With that in mind, let’s dive into Camber’s top five investors. Please note that this list only includes investors who filed a Q3 position update. For example, Antilles Family Office owns 39.93 million shares, although that figure is only accurate as of May.

  1. Vanguard: 15.29 million shares. Vanguard sold 1.6 million shares during Q3.
  2. BlackRock (NYSE:BLK): 6.57 million shares. BlackRock purchased 19,410 shares during Q3.
  3. Geode Capital Management: 3.64 million shares. Geode purchased 755,640 shares during Q3.
  4. State Street (NYSE:STT): 1.11 million shares. State Street’s position remained unchanged during Q3.
  5. Two Sigma Investments: 817,743 shares. Two Sigma purchased its entire stake during Q3.

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On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Eddie Pan specializes in institutional investments and insider activity. He writes for InvestorPlace’s Today’s Market team, which centers on the latest news involving popular stocks.

Article printed from InvestorPlace Media, https://investorplace.com/2022/12/5-investors-betting-big-on-camber-energy-cei-stock/.

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